The Europe Defense Market size is estimated at USD 10.45 billion in 2024, and is expected to reach USD 12.80 billion by 2029, growing at a CAGR of 0.04% during the forecast period (2024-2029).
The European defense industry is fragmented, with various players vying to increase their market share. Some prominent market players include Lockheed Martin Corporation, Northrop Grumman Corporation, General Dynamics Corporation, BAE Systems plc, and RTX Corporation.
The key players in the market are focusing on developing advanced defense systems for different countries in the European region. Growth in defense expenditures, as well as collaboration between defense companies and the governments of countries in the region, will help formulate new business opportunities, which will, in turn, lead to significant growth in the market during the forecast period.
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