Aerospace And Defense Market Size Forecast: $1102.16 Billion by 2029 | Global Outlook

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What Is the Projected Market Size Valuation of the Aerospace And Defense Market by 2025?
In recent times, the aerospace and defense market has been expanding with notable momentum. The market is predicted to grow from $796.24 billion in 2024 to $846.94 billion in 2025, manifesting a compound annual growth rate (CAGR) of 6.4%. Factors driving this robust growth during the historic period include growth in emerging markets, rising demand for air travel, escalation in military expenditures, an upsurge in the use of military drones, and an acceleration in the development of autonomous fighter jets.

What Is the Estimated Market Growth Value for the Aerospace And Defense Industry in 2029?
The aerospace and defense market is forecasted to experience a robust growth in the coming years, with its value expected to reach $1102.16 billion in 2029, growing at a compound annual growth rate (CAGR) of 6.8%. The uptick during the forecast period is likely due to factors such as government support, increased urbanization, use of lightweight materials, commercial use of drones, heightened demand for military helicopters and expanded military modernization programs. Key trends shaping this period include the adoption of 3D printing technology by drone manufacturers, digital thread and digital twin to enhance performance, strategic collaborations and acquisitions, and the utilisation of cloud-based technology. Further highlights include design upgrades and modularity for military-style weaponry, application of artificial intelligence (AI), decamouflage technology being used day or night for light weapons and implementation of aircraft health monitoring system (AHMS) to boost efficiency in the maintenance and repair procedures. The future will also see the rise in edge computing in defense, use of unmanned combat vehicles, augmented and virtual reality, laser technology, robotics and UAVs to reduce maintenance timelines, firms investing in electrically-powered aircraft and emphasis on blockchain for refining aircraft manufacturing processes.

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What Are the Growth Drivers and Opportunities in the Aerospace And Defense Market?
During the projected timeframe, a reduction in interest rates by monetary authorities in developed nations will result in low-interest rates, with the aim of stimulating economic expansion and averting deflation. This move makes cheap funds available for investing in these economies. This entices investment borrowing and stimulates spending, as low-interest rates are appealing. For example, the Mortgage Reports, a US-based media outlet that reports on mortgage news, revealed in September 2023 that mortgage rates reached unprecedented lows in 2020 and 2021 amid the Covid pandemic. The Federal Reserve's emergency interventions aided in reducing mortgage rates below 3% and maintaining them at that level. This lower interest rate environment is projected to spur growth in the aerospace and defense markets during the forecasted period.

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What Are the Primary Segments Covered in the Global Aerospace And Defense Market Report?
The aerospace and defense market covered in this report is segmented -

1) By Type: Aerospace, Defense
2) By Operation: Autonomous, Manual
3) By Component: Weapon System, Fire Control System, Command and Control System, Other Components

Subsegments:
1) By Aerospace: Commercial Aviation, Business Aviation, General Aviation, Space, Helicopters, Unmanned Aerial Vehicles (UAVs)
2) By Defense: Military Aircraft, Naval Defense, Land Defense, Missile Defense Systems, Cybersecurity, Military UAVs

What Are the Top Growth Trends in the Aerospace And Defense Market?
Drones are now incorporating 8K video capture technology to improve the quality of images and videos they capture. The 8K technology gives a superior horizontal display resolution, delivering images with more detail compared to standard HD. By integrating 8K cameras, drones can achieve higher precision and deliver high-resolution footage during autonomous flights. One notable example is Autel's EVO series, which comes equipped with 8K cameras.

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Which Companies Are Shaping the Future of the Aerospace And Defense Market?
Major companies operating in the aerospace and defense market include Airbus Group SE, Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Northrop Grumman Corp, General Dynamics, General Electric Company, Bae Systems plc, Safran SA, Thales, Hindustan Aeronautics Ltd, Team Indus, Rolls Royce India, Bharat Electronics Limited (BEL), Drone Aerospace Systems Pvt Ltd, Indian Rotorcraft, Mahindra Aerospace, Raj Hamsa Ultralights, Commercial Aircraft Corporation of China Ltd. (COMAC), Shanghai aircraft manufacturing factory, Aviation Industry Corporation of China, Superior Aviation Beijing Co., Honeywell International Inc., Bombardier Inc., Embraer, Cessna, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Textron Inc., Pilatus Aircraft Ltd, Leonardo SpA, Dassault Aviation SA, Piper Aircraft Inc, Honda Aircraft Company, Precision Castparts Corp, Spirit AeroSystems Inc, TransDigm Group Incorporated, Advanced Composites Solutions, AEL Sistemas, Airship do BrasilOneWeb, Telespazio, ARSAT, Cirrus Aircraft Corp., Israel Aerospace Industries, Iran Aircraft Manufacturing Industries, Saudi Arabian Military Industries (SAMI), Advanced Electronics Company, Abu Dhabi Ship Building (ADSB), DragonFly Aerospace, Armscor, Atlas Aircraft Corporation

Which Region Holds the Largest Market Share in the Aerospace And Defense Industry?
North America was the largest region in aerospace & defense market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace and defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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