Global Defence Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Defence Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Defence market finds that the global Defence market reached a value of USD 76253.82 million in 2022. It’s expected that the market will achieve USD 131135.41 million by 2028, exhibiting a CAGR of 9.46% during the forecast period.

Impacts from the short term

In the short term, defence companies' orders are relatively stable, and the short-term impact of the epidemic is mainly reflected in production. The start of construction will be postponed appropriately due to the impact of the epidemic, but the impact is not expected to be large. However, the compression of valuation is inevitable. The epidemic has brought a decline in the overall risk appetite of the market, which has a greater impact on the valuation of the industry. Fiscal pressure may cause the growth rate of the defence budget to decline. Because of the epidemic situation, the financial pressure of various countries is greater, and after the epidemic situation, they are also facing the pressure of SMEs to reduce taxes and fees, and the defence budget may be affected.

Impacts from the long-term

Because of the high degree of stability in the performance of the national defence industry, it has a firm value. Controllable risk is an important prerequisite to adhere to. From a very long-term perspective, the risks of national defence are very limited. The steady growth of the national defence budget determines the steady growth of the industry's performance. There is no such thing as a sharp decline in performance and equity pledge risk. Neither the impact of short-term events nor the medium- and long-term impact on the macro economy will cause substantial damage to the defence industry.

Increased technological innovation and progress

As the country's overall strength continues to increase, people are paying more and more attention to national defence. National defence technological innovation plays an important role on the basis of improving the country's military strength. The state needs cash for defence technologies and systems to maintain and guarantee national security. Various countries and related companies are committed to developing new defence technologies. Improvements in defence technology and continuous innovation will promote the development of the defence market. Strengthening national defence technology innovation and accelerating the construction of the national defence system will be the objective law of national defence technology development.

Increased political uncertainty between countries

Modern national defence is a huge and complex system including many aspects such as armed construction, national defence system, military technology and industry, national defence engineering, military transportation and communication, manpower mobilization, national defence education, and national defence regulations. Modern national defence takes military power as the core, and also includes related non-military forces. It is a competition of comprehensive national strength based on economy and technology. Due to increased political uncertainty between countries, increasing security concerns in various countries and increasing government spending on R & D activities, this industry will be promoted.

The Asia-Pacific, Middle East and Russia market

The UAE, Saudi Arabia, India, South Korea, Japan, China and Russia have also shown potential growth prospects due to threats from other countries. In particularly, China, Japan, India and other countries have increased their investment in designing, developing, manufacturing, and providing various high-tech defence systems for air, land, ocean, and space applications. Therefore, it is expected that the investment and demand of the Asia-Pacific region in the defence market will continue to increase.
Among them, the strong military modernization plans of China and Russia, coupled with competition in the fields of cyber, electronic and information warfare, space, intelligence gathering and unmanned combat, will push forward major defence spending countries to invest forward. India and Saudi Arabia are also improving the innovation and production capacity of local industries, which in turn requires increased investment. Driven by strong markets in the Asia-Pacific region and the Middle East, the defence market will continue to develop.

Region Overview:

In 2022, the share of the Defence market in North America stood at 35.63%.

Company Overview:

Boeing is one of the major players operating in the Defence market, holding a share of 4.45% in 2023.

Boeing

The Boeing Company, together with its subsidiaries, develops, produces, and markets commercial jet aircraft, as well as provides related support services to the commercial airline industry worldwide. The Company also researches, develops, produces, modifies, and supports information, space, and defence systems, including military aircraft, helicopters and space and missile systems.

Siemens AG

Siemens AG is an engineering and manufacturing company. The Company focuses on areas of electrification, automation, and digitalization. Siemens also provides engineering solutions in automation and control, power, transportation, and medical diagnosis.

Segmentation Overview:

Among different product types, Sensors segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Ground defence segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Defence market covered in Chapter 3:

Boeing
Anritsu
STMicroelectronics
Verizon Communications
Teradyne
Emerson Electric Co.
Qualcomm Technologies, Inc.
ABB Ltd
Telefonica
AT&T
ROHDE&SCHWARZ
Agilent Technologies
Siemens AG
VIAVI Solutions
Vodafone
Keysight Technologies
Yokogawa Electric Co
Deutsche Telekom
Advantech Co. Ltd

In Chapter 4 and Chapter 14.2, on the basis of types, the Defence market from 2018 to 2029 is primarily split into:

Data Acquisition Modules and Computers
Sensors
Robotics
Spectrum Control
Wireless Communication

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Defence market from 2018 to 2029 covers:

Air Defence
Ground Defence
Sea Defence

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)