Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 750 billion | USD 1388 billion | 8.2% | 2022 |
FrequentlyAsked Questions
The industries that design, develop, produce, and maintain airplanes, spacecraft, missiles, and military systems are referred to as aerospace and defense industries. These sectors are essential to the evolution of technology, global economic growth, and national security. While the defense industry is mostly concerned with military capabilities and national security, the aerospace sector has both civilian and military uses.
The aerospace and defense market are driven by several factors including growing air travel demand, technological advancements, increasing space activities, rising military modernization and increasing investment in the aerospace and defense industry.
According to the report, the global market size was worth around USD 750 billion in 2022 and is predicted to grow to around USD 1388 billion by 2030.
The global aerospace and defense market is expected to grow at a CAGR of 8.2% during the forecast period.
The global aerospace and defense market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market due to the presence of major players.
The global aerospace and defense market is dominated by players like Northrop Grumman Corp, General Dynamics, Raytheon Technologies Corporation, Airbus Group SE, The Boeing Company, Lockheed Martin Corporation, Raytheon Co, Bae Systems plc, General Electric Company, and Safran SA among others.
The aerospace and defense market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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