Learn about the global defence market through The Business Research Company, which provides information on defence market size, defence market drivers and restraints, defence market players, the COVID-19 impact on the defence market, and more.

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The global defence market is expected to grow from $438.34 billion in 2020 to $446.59 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth 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 defence market is expected to reach $542.33 billion in 2025 at a CAGR of 5%.

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The defence market consists of sales of air-based, sea-based and land-based military equipment by entities (organizations, sole traders and partnerships) that produce air-based, sea-based and land-based military equipment including support and auxiliary equipment such as radar, satellites, sonars and other auxiliary equipment or maintain, repair and overhaul defence equipment.

Global defence market segments include:

By Type: Air based Defence Equipment, Sea based Defence Equipment, Land based Defence Equipment, Defence Equipment Maintenance, Repair and Overhauling Services, Defence Support and Auxiliary Equipment

By Operation: Autonomous Defence Equipment, Manual

Subsegments Covered: Fighter Aircrafts, Military Helicopters, Military Gliders and Drones, Battle Force Ships (Aircraft Carriers, Frigates, Destroyers, Corvettes, Torpedo Boats, Support crafts), Submarines (including Nuclear Submarines), Armoured Vehicles, Missiles, Tanks, Small Arms and Light Weapons, Air based Defence Equipment MRO Services, Water based Defence Equipment MRO Services, Land based Defence Equipment MRO Services, Military Radars, Military Satellites, Other Defence Support and Auxiliary Equipment

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global defence market, accounting for 34% of the market in 2020.

Adoption of unmanned combat vehicle is one of the major trends in this market. Unmanned combat vehicle is a machine or motorized vehicle that runs without any physical human intervention. These vehicles have a set of sensors for 360-degree situational awareness and for optical avoidance, steering actuators, brake, and laser scanner along with other autonomous features enabling remote or autonomous functioning of the vehicle. It is majorly used to inspect the surroundings and transfer the information to operator through teleoperation or make autonomous decisions to deal with situations involving several technical challenges.

TBRC’s defense market report covers:

Major Market Players: Lockheed Martin, Raytheon Company, BAE Systems, Northrop Grumman, Boeing.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Defence Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides defence market overviews, analyses and forecasts market size, share, defence market players, defence market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s defence market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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