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The defense market is expected to grow from$474.69 billion in 2021 to $513.57 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The market is expected to reach to $581.84 billion in 2026 at a CAGR of 3.2%.

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Defense Market Driver
Corner shot weapons are increasingly becoming popular due to the safety features they offer.

Defense Market Trends
The adoption of unmanned combat vehicles is one of the major trends in this market. An unmanned combat vehicle is a machine or motorised 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, brakes, and laser scanners, along with other autonomous features enabling remote or autonomous functioning of the vehicle. It is mostly used to inspect the surroundings and transfer the information to the operator through teleoperation or make autonomous decisions to deal with situations involving several technical challenges.

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Defense Market Segmentation By The Business Research Company

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

2) By Operation: Autonomous Defense Equipment, Manual

3) By Platform: Airborne, Land, Naval

Major Players And Regions Of The Defense Market
Major players in the defense market are Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, Airbus Group SE, Leonardo SpA, Thales group, and General Dynamics.

Asia Pacific was the largest region in the defense market in 2021 and Western Europe is expected to be the fastest-growing region in the forecast period.

The Defense Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the defense market.

View More Reports Related To The Defense Market –

Aerospace & Defense Global Market Report 2022

Air Based Defense Equipment Global Market Report 2022

Defense Support And Auxiliary Equipment Global Market Report 2022

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