Global Defense Market Report And Strategies To 2032

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Defense Market 2023
Market Size, Trends and Global Forecast 2023-2032
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Point-of-Use Defense Market Segments
The Business Research Company segments its
Point-of-Use Defense Market report as
The air-based defense equipment market was the
largest segment of the defense market segmented
by type, accounting for 37.6 of the total in
2021. Going forward, the air-based defense
equipment market is expected to be the fastest
growing segment in the defense market segmented
by type, at a CAGR of 8.4 during 2021-2026.
By Type
The manual market was the largest segment of the
defense market segmented by operation, accounting
for 89.3 of the total in 2021. Going forward,
the autonomous defense equipment market is
expected to be the fastest growing segment in the
defense market segmented by operation, at a CAGR
of 8.0 during 2021-2026.
By Operation
The airborne market was the largest segment of
the defense market segmented by platform,
accounting for 52.3 of the total in 2021. Going
forward, the airborne market is expected to be
the fastest growing segment in the defense market
segmented by platform, at a CAGR of 8.1 during
2021-2026.
By Platform
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Point-of-Use Defense Market Statistics
The defense market size reached a value of nearly
474.69 billion in 2021, having grown at a
compound annual growth rate (CAGR) of 4.0 since
2016. The market is expected to grow from 474.69
billion in 2021 to 687.84 billion in 2026 at a
rate of 7.7. The defense market size is then
expected to grow at a CAGR of 4.0 from 2026 and
reach 838.03 billion in 2031.
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Key Market Drivers And Trends
Drivers
Government initiatives have been the major driver
in the forecast period.
Trends
The adoption of unmanned combat vehicles is one
of the major trends in the defense market. An
unmanned combat vehicle is a machine or motorized
vehicle that runs without any physical human
intervention.
Region
Asia Pacific was the largest region in the
defense market, accounting for 33.6 of the total
in 2022.
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Key Market Players

• Major players in the Point-of-Use Defense Market
  are
• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• Northrop Grumman Corp
• General Dynamics
• The Boeing Company

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