Future Outlook of the Defense Support and Auxiliary Equipment Market: Growth, Trends, and Emerging Opportunities Explored
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How has the defense support and auxiliary equipment market grown in recent years?
In recent years, there has been robust growth in the defense support and auxiliary equipment market. This market is anticipated to expand from $149.58 billion in 2024 to a substantial $158.91 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. The expansion during the historical period is due to various factors including defense budgets, global political tensions, maintenance and upgrade requirements, the global terrorism threat, and peacekeeping missions.
How is the defense support and auxiliary equipment market size expected to evolve during the forecast period?
The market size for defense support and auxiliary equipment is anticipated to witness robust growth in the coming years. It is projected to surge to $200.79 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this projected growth during the forecast period include the advent of new technologies, modernization initiatives, responses to climate change and disasters, worldwide security issues, and international alliances. Emerging trends during this forecast period encompass electrification and lightweighting, the use of advanced materials, additive manufacturing, increased digitalization and connectivity, and collaboration and partnerships.
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Which key drivers are propelling the defense support and auxiliary equipment market’s growth?
The anticipated surge in defense expenditure is predicted to drive the expansion of the defense support and auxiliary equipment market. This allocation of financial resources by governments is meant for the sustenance and operations of their military and armed forces. It finances governmental investments in R&D initiatives related to defense support and auxiliary equipment. It also pays for the upkeep, refurbishment, and enhancement of the existing defense support and auxiliary equipment. For instance, a projection by the UK Parliament’s House of Commons Library, a government body in the UK, mentions that the UK defense expenditure is likely to touch £56.9 billion (roughly $70.5 billion) in fiscal 2024/25, and then rise to £59.8 billion (around $73.9 billion) in 2025/26. Thus, the rise in defense expenditures is fuelling the expansion of the defense support and auxiliary equipment market.
What are the market segments in the defense support and auxiliary equipment industry?
The defense support and auxiliary equipment market covered in this report is segmented –
1) By Type: Military Radars, Military Satellites, Other Defense Support And Auxiliary Equipment
2) By Payload Type: Communication Payload, Navigation Payload, Imaging Payload, Others
3) By Application: Intelligence, Surveillance, And Reconnaissance (Isr), Communication, Navigation
Subsegments:
1) By Military Radars: Airborne Radars, Ground-Based Radars, Naval Radars, Space-Based Radars, Other Military Radars
2) By Military Satellites: Communication Satellites, Reconnaissance Satellites, Navigation Satellites, Earth Observation Satellites, Other Military Satellites
3) By Other Defense Support And Auxiliary Equipment: Military Communication Equipment, Military Sensors And Detectors, Defense Logistics Equipment, Military Transport Vehicles, Other Defense Support Equipment
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Which leading companies are shaping the growth of the defense support and auxiliary equipment market?
Major companies operating in the defense support and auxiliary equipment market include Raytheon Technologies Corporation, Thales Group, The Boeing Company, Leidos, Leonardo SpA, ManTech International Corp., L3 Technologies Inc., Rostec State Corporation, Bae Systems plc, RTX Corp, Lockheed Martin Corporation, General Dynamics Corporation, British Aerospace Engines Systems Plc, Northrop Grumman Corporation, Safran S.A, Honeywell International Inc., United Technologies Corporation, Elbit Systems Ltd., Rheinmetall AG, Harris Corporation, Cobham Ltd., Moog Inc., Meggitt Plc, Curtiss-Wright Corporation., Teledyne FLIR LLC, Ultra Electronics Holdings Plc, Esterline Technologies Corporation, Kongsberg Gruppen ASA, British Foreign & Colonial Automatic Light Controlling Company Ltd., QinetiQ Group Plc, Kratos Defense & Security Solutions Inc., AVAV – AeroVironment Inc., Textron Inc., Cubic Corp, Science Applications International Corporation.
What key trends are currently impacting the defense support and auxiliary equipment market’s development?
The primary companies in the defense support and auxiliary equipment market are turning their focus towards creating domestically built submarines in an attempt to gain a stronger foothold in the market. A domestically constructed submarine is one that is planned, developed, and built within the confines of the country, without dependence on overseas technology or expertise. Submarines play a crucial role in defense support equipment, serving to defend naval assets and vessels from attacks within the marine environment. In an noteworthy achievement for replenishing outmoded naval capacities, Taiwan, an East Asian nation, introduced its first domestically built submarine in September 2023. This diesel-electric attack submarine, named Hai Kun after a mythical Chinese fish, was launched in Kaohsiung, a southern city, at the CSBC (China Shipbuilding Corporation) Shipyard. Key features of this submarine include digital sonar systems, consolidated combat systems, and other auxiliary equipment systems, such as periscopes.
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Which geographic areas are influencing the growth of the defense support and auxiliary equipment market?
North America was the largest region in defense support and auxiliary equipment market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the defense support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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