The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s Defense Support and Auxiliary Equipment Global Market Report 2023 offers crucial insights into the defense support and auxiliary equipment market help businesses analyse and build stronger strategies.

The defense support and auxiliary equipment market have demonstrated robust growth in recent years, with a commendable increase from $154.35 billion in 2023 to an estimated $162.56 billion in 2024. This signifies a substantial Compound Annual Growth Rate (CAGR) of 5.3%.

Catalysts for Growth

• Defense Budgets: Increased financial allocations for defense support and auxiliary equipment drive market expansion.
• Geopolitical Tensions: Rising global tensions prompt nations to invest in strengthening their defense capabilities.
• Maintenance and Upgrades: Continuous efforts in maintaining and upgrading existing equipment contribute to market growth.
• Global Terrorism: The persistent threat of global terrorism necessitates advanced defense support systems.
• Peacekeeping Missions: Participation in peacekeeping missions requires a robust defense infrastructure.

Steady Growth Ahead
Anticipating steady growth, the defense support and auxiliary equipment market are projected to reach $196.56 billion in 2028, boasting a CAGR of 4.9%.

Factors Driving Future Growth

• Emerging Technologies: Adoption of cutting-edge technologies enhances defense capabilities.
• Modernization Programs: Ongoing modernization initiatives contribute to sustained market expansion.
• Climate Change and Disaster Response: The need for swift response in disaster scenarios fuels demand for advanced defense support.
• Global Security Challenges: Evolving security challenges worldwide drive the demand for sophisticated equipment.
• International Partnerships: Collaborations and partnerships between nations contribute to market growth.

Noteworthy Trends

• Electrification and Lightweighting: Emphasis on lightweight and efficient defense equipment.
• Advanced Materials: Integration of advanced materials for enhanced durability and performance.
• Additive Manufacturing: Growing utilization of 3D printing for rapid prototyping and production.
• Digitalization and Connectivity: Enhanced connectivity and digital solutions for efficient defense operations.
• Collaboration and Partnerships: Increasing collaboration between industry players and governments.

Defense Spending Surge: A Key Driver
The surge in defense spending emerges as a key driver propelling the growth of the defense support and auxiliary equipment market. Governments worldwide allocate significant financial resources to support armed forces and military activities, covering research and development, maintenance, repair, and upgrades of defense equipment.

Financial Insights

• According to the European Defence Agency, European defense spending reached a record high of $225 billion (€214 billion) in 2021.
• An increase of 6% from the previous year highlights the growing emphasis on defense capabilities.

Market Players
Key industry players contributing to the defense support and auxiliary equipment market include:

• Raytheon Technologies Corporation
• Thales Group
• The Boeing Company
• Leidos
• Lockheed Martin Corporation
• and others.

Rise of Passive Radars

Passive Radars: Cost-Effective Surveillance

• Advantages Across Applications: Passive radars find application in diverse defense and civil scenarios.
• Cost-Effectiveness: Utilizing existing electromagnetic signals reduces operational costs.
• Examples of Systems: Lockheed Martin’s Silent Sentry, Roke Manor Research Limited’s Celldar, and Thales Group’s Homeland Alerter 100 showcase the versatility of passive radar systems.

Market Segmentation
The defense support and auxiliary equipment market are segmented for a comprehensive understanding.

By Type

1. Military Radars
2. Military Satellites
3. Other Defense Support and Auxiliary Equipment

By Payload Type

1. Communication Payload
2. Navigation Payload
3. Imaging Payload
4. Others

By Application

• Intelligence, Surveillance, and Reconnaissance (ISR)
• Communication
• Navigation

Regional Dynamics
In 2023, North America led the defense support and auxiliary equipment market, with Asia-Pacific expected to be the fastest-growing region in the forecast period.

In conclusion, the defense support and auxiliary equipment market stand poised for substantial growth, fueled by factors such as rising defense budgets, technological advancements, and the need to address global security challenges. As the industry evolves with trends like electrification and digitalization, stakeholders can expect a landscape characterized by enhanced defense capabilities and strategic partnerships.

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The Defense Support and Auxiliary Equipment Global Market Report 2023  provides a comprehensive outlook of the defense support and auxiliary equipment market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The defense support and auxiliary equipment market forecast offers a thorough analysis on defense support and auxiliary equipment market size, defense support and auxiliary equipment market share, prominent players and their strategies.

The Table Of Content For The Defense Support and Auxiliary Equipment Market Include:
1. Defense Support and Auxiliary Equipment Market Executive Summary
2. Defense Support and Auxiliary Equipment Market Segments
3. Defense Support and Auxiliary Equipment Market Size And Defense Support and Auxiliary Equipment Market Growth Rate
4. Key Defense Support and Auxiliary Equipment Market Trends
5. Major Defense Support and Auxiliary Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Defense Support and Auxiliary Equipment Market
26. Top Defense Support and Auxiliary Equipment Companies
27. Defense Support and Auxiliary Equipment Market Opportunities And Strategies
28. Defense Support and Auxiliary Equipment Market, Conclusions And Recommendations
29. Appendix

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