Global Air Based Defense Equipment Market Strategies Forecast 2024 - 2033
19 Apr, 2024
The air-based defense equipment market has experienced robust growth, expanding from $219.61 billion in 2023 to $237.41 billion in 2024, with an 8.1% compound annual growth rate (CAGR). Historical growth is attributed to budget allocations, export opportunities, technological advancements, and geopolitical tensions. Forecasts indicate further growth, with the market expected to reach $302.47 billion by 2028, driven by budget priorities, modernization efforts, cybersecurity concerns, and regional dynamics. Notable trends include electrification, lightweighting, utilization of advanced materials, additive manufacturing, digitalization, and increased collaboration within the industry.
Major Driver In The Air Based Defense Equipment Market
The air-based defense market witnesses innovation fueled by rapid advances in wireless technology and miniaturization, with technologies like 3D printing, artificial intelligence, and big data analytics enhancing the manufacturing process, resulting in higher productivity, lower operating costs, and expanded product portfolios. Lower operating costs enable companies to drive the growth of the air-based defense equipment market. The market size for air-based defense equipment saw significant growth in 2023, continuing into 2024, with further expansion anticipated by 2028.
Request A Free Sample Of The Global Air Based Defense Equipment Market ReportAir Based Defense Equipment Market Competitive Landscape
Lockheed Martin Corporation, Airbus Group SE, The Boeing Company, Leonardo SpA, Bae Systems plc, Raytheon Technologies Corporation, Honeywell International Inc., Northrop Grumman Corp, Rostec State Corporation, Textron Inc, Aviation Industry Corporation of China Ltd., General Dynamics Corp, Thales SA, Almaz Antey Corporation, Safran S.A., PJSC United Aircraft Corporation, Mitsubishi Heavy Industries Ltd., United Shipbuilding Corporation, JSC Tactical Missiles Corporation, Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries Ltd., Bharat Electronics Ltd., Hindustan Aeronautics Ltd., Larsen & Toubro Ltd., JSC Rosoboronexport Ltd., Sukhoi Aviation Corporation, ANTK imeni A.N. Tupoleva, Brazilian multinational aerospace corporation, GE Aviation Systems Ltd., Pratt & Whitney Aircraft Company
Key Air Based Defense Equipment Market Trend
Companies in the air-based defense equipment manufacturing market leverage 3D printing for rapid and cost-effective production of complex components, enhancing operational readiness and reducing maintenance time for military aircraft. Saab AB's successful trial of 3D-printed aircraft parts exemplifies the technology's potential in advancing aerospace capabilities.
Get The Full Global Air Based Defense Equipment Market ReportAir Based Defense Equipment Market Segmentation
The air based defense equipment market covered in this report is segmented –
1) By Type: Fighter Aircrafts, Military Helicopters, Military Gliders and Drones
2) By Operation: Autonomous Air based Defense Equipment, Manual
3) By Component: Weapon System, Fire Control System, Command and Control System, Others
By Geography: The regions covered in the air based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the air-based defense equipment market in 2023. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the air-based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Air Based Defense Equipment Global Market Report 2024 furnishes information about the global air based defense equipmentmarket, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.