Aerospace & Defense Global Market Sees Growth Rate Of 8% Through 2022
10 Mar, 2022
The global aerospace & defense market size is expected to grow from $700.30 billion in 2021 to $755.24 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The aerospace and defense market is expected to reach $1047.07 billion in 2026 at a CAGR of 8.5%.
What is the Global Aerospace & Defense Market?
The aerospace and defense market consists of sales of aircraft, aircraft components, weapons, artillery tanks, radar, and other military equipment by entities (organizations, sole traders or partnerships) that produce aircraft, aircraft components, weapons, artillery tanks, radar, and other military equipment for aerospace and defense purposes.
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What drives the Global Aerospace & Defense Market?
During the forecast period, developed countries will experience low-interest rates as monetary authorities are reducing the interest rates to stimulate economic growth and prevent deflation. This led to the flow of cheap money for investment in these economies. Low-interest rates encouraged borrowing for investment and helped drive spending. Major countries that had low-interest rates in the historic period include the USA, Germany, and Japan. The low-interest rates will boost the growth of the aerospace and defense market in the forecast period.
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Global Aerospace & Defense Market Segments
The global aerospace & defense market is segmented:
By Type: Aerospace, Defense
By Operation: Autonomous, Manual
By Component: Weapon System, Fire Control System, Command and Control System, Others
By Geography: The regions covered in the aerospace & defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aerospace & Defense Global Market Report 2022provides market size and growth forecasts for the global aerospace & defense market, global aerospace & defense market share, aerospace & defense market segments and geographies, aerospace & defense market competitive landscape including leading competitors’ revenues, profiles and market shares. The aerospace & defense market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Aerospace & Defense Industry Playersinclude Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, General Dynamics, General Electric Company, and Safran SA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.