Global Defense Support and Auxiliary Equipment Market Major Players 2024, Forecast To 2033
10 Jan, 2024
The market for defense support and auxiliary equipment has experienced strong growth, increasing from $154.35 billion in 2023 to $162.56 billion in 2024, with a 5.3% CAGR. Historical growth is linked to defense budgets, geopolitical tensions, the need for maintenance and upgrades, global terrorism concerns, and participation in peacekeeping missions. Steady growth is expected to continue, with the market projected to reach $196.56 billion in 2028, reflecting a 4.9% CAGR. Anticipated drivers include the adoption of emerging technologies, modernization programs, responses to climate change and disasters, addressing global security challenges, and international partnerships. Major trends include electrification, lightweighting, the adoption of advanced materials, additive manufacturing, digitalization, and connectivity, as well as collaborative partnerships.
Global Defense Support and Auxiliary Equipment Market Key Driver
The anticipated rise in defense spending is set to drive the future growth of the defense support and auxiliary equipment market. Defense spending involves the allocation of financial resources by governments to support armed forces and military activities, encompassing R&D programs, maintenance, repairs, and upgrades. In 2021, European defense spending reached a record $225 billion, indicating a 6% increase from the previous year, as reported in the annual Defense Data report by the European Defence Agency. This upward trend in defense spending serves as a key driver for the expansion of the defense support and auxiliary equipment market.
Get A Free Sample Of The Global Defense Support and Auxiliary Equipment Market ReportGlobal Defense Support and Auxiliary Equipment Market Segments
The defense support and auxiliary equipment market covered in this report is segmented –
1) By Type: Military Radars, Military Satellites, Other Defense Support and Auxiliary Equipment
2) By Payload Type: Communication Payload, Navigation Payload, Imaging Payload, Others
3) By Application: Intelligence, Surveillance, and Reconnaissance (Isr), Communication, Navigation
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
By Geography: The regions covered in the defense support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
North America was the largest region in defense support and auxiliary equipment market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the defense support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Defense Support and Auxiliary Equipment Industry Players
Raytheon Technologies Corporation, Thales Group, The Boeing Company, Leidos, Leonardo SpA, ManTech International Corp., L3 Technologies Inc., Rostec State Corporation, Bae Systems plc, RTX Corp, Lockheed Martin Corporation, General Dynamics Corporation, British Aerospace Engines Systems Plc, Northrop Grumman Corporation, Safran S.A, Honeywell International Inc., United Technologies Corporation, Elbit Systems Ltd., Rheinmetall AG, Harris Corporation, Cobham Ltd., Moog Inc., Meggitt Plc, Curtiss-Wright Corporation., Teledyne FLIR LLC, Ultra Electronics Holdings Plc, Esterline Technologies Corporation, Kongsberg Gruppen ASA, British Foreign & Colonial Automatic Light Controlling Company Ltd., QinetiQ Group Plc, Kratos Defense & Security Solutions Inc., AVAV - AeroVironment Inc., Textron Inc., Cubic Corp, Science Applications International Corporation
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Defense Support and Auxiliary Equipment Market Overview
The defense support and auxiliary equipment refer to support and auxiliary equipment used for defense operations, including equipment such as sonars. The defense support and auxiliary equipment include all mobile and fixed systems required to support the operation of the primary defense systems.
Defense Support and Auxiliary Equipment Global Market Report 2023 provides data on the global defense support and auxiliary equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The defense support and auxiliary equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.