2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

Which Major Market Drivers Are Expected to Boost the Growth Potential of the Defense Market?

One of the significant trends in the market is the increasing usage of unmanned combat vehicles. These motorized machines operate without any human intervention. They are equipped with sensors that provide a full 360-degree view, appliances for optical avoidance, steering mechanisms, brakes, laser scanners, and other autonomous features, allowing the vehicle to function remotely or independently. Their primary use is environmental observation and conveying the gathered information to the operator via teleoperation or making independent decisions when faced with multiple technical hurdles. For instance, in November 2022, the Indian army initiated a rash of emergency drone purchases, spending as much as 3 billion rupees ( About $36 million) on each operation. The new proposal includes the purchase of 1,000 unmanned surveillance helicopters, 163 high-altitude logistics drones, 750 remotely piloted aerial vehicles, and 80 miniature remotely piloted aircraft systems.

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#What is the Projected CAGR for the Defense Market Size from 2025 to 2034?

The size of the defense market has seen substantial growth in recent years. The market, which is set to rise from $491.06 billion in 2024 to $527.06 billion in 2025, projects a compound annual growth rate (CAGR) of 7.3%. The historical growth is due to a rise in the usage of military drones, heightened demand for assault and transport helicopters, low-interest rates, enhanced spending on military hardware, development of autonomous fighter planes, and a rise in military spending.

The valuation of the defense market is predicted to experience a significant increase in the coming years, expanding to $676.64 billion by 2029 at a compound annual growth rate (CAGR) of 6.4%. This expansion during the projection period can be credited to factors like government programs, development in technology, growing internal and external security issues, improving military helicopters, and escalating military modernization. Expectations for the forecast period also involve the rise in utilization of unmanned combat vehicles, pioneering military avionics update initiatives, augmented and virtual reality, edge computing in defense, application of 3D printing methods, strategic business mergers and acquisitions, implementation of artificial intelligence (AI) in defense apparatus like drones and helicopters, enhancements and modular designs for military-grade weapons, and advanced day/night decamouflage technology for handheld weaponry.

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What Are the Key Market Innovations in theDefense Market Over the Coming Years?

Corner shot firearms are gaining popularity due to their enhanced safety measures. A corner shot is a specific type of weapon accessory, often attached to a Glock pistol, a handgun, or a Beretta 92, which features a hinged structure. This framework allows the weapon’s body to curve around corners, thus enabling an attack on a target without risking the soldier’s exposure. In addition, it comes with a precision-aligned high-resolution video camera, an LCD display, and an integrated tactical light to aid in navigation and illumination. This type of weapon, whether a rifle or handgun, is extensively utilized in battlefield scenarios, within military vehicles like tanks, and atop turrets, offering a comprehensive 360-degree cover radius while ensuring the safety of the person operating the weapon inside the vehicle. The efficiency and accuracy of the weapon extend to a distance between 100 and 200 meters, contingent on the specific type of weapon.

Who Are the Top Companies Driving Innovation and Growth in theDefense Market?

Major companies operating in the defense market include Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corp, General Dynamics, The Boeing Company, BAE Systems plc, L3Harris Technologies, Leonardo SpA, Thales Group, Huntington Ingalls Industries Inc, Excel Laser Technology Private Limited, Acuity Laser Measurement, Prakash Laser, Infrared Optics, Kalaimakal Systems Private Limited, Baoding Triangel Rsd Electronics Technology Limited, Beijing Be-Better Technology Co., Ltd, Shanghai Zhangjiagang Baorui Machinery Co., Ltd, Guangzhou Blixun Electronics Co., Ltd, Xi’an Lonn M&E Equipment Co., Ltd, General Atomics Aeronautical Systems, Elbit Systems Ltd, AeroVironment, China South Industries Group (CSGC), China Aerospace Science and Industry Corporation (CASIC), China North Industries Group Corporation Limited (Norinco), Jilin Ruikd Medical Photoelectric Technology Co., Ltd, Changhe Aircraft Industries Corporation, Shenyang Aircraft Corporation, Babcock International, BMARC, BMT Group, CBI Explosives Industry Group, HSE explosives, Chemring Energetics UK Ltd, Orica UK Ltd, CES Advanced Composites UK Ltd, Conjay Collectors Ammunition Company Ltd, Societe Suisse des Explosifs, SSE Group, BIAZZI SA, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Russian Helicopters, Uralvagonzavod, United Shipbuilding Corporation, Advanced Composites Solutions, AEL Sistemas, Aeromot, Agrale, Airship do Brasil, Telespazio, ARSAT, Airbus SE, Saudi Arabian Military Industries (SAMI), Advanced Electronics Company, Abu Dhabi Ship Building (ADSB), DragonFly Aerospace, Armscor, Atlantis Diesel Engines, Atlas Aircraft Corporation, OneWeb

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Which Key Market Segments Comprise the Defense Market and Drive Its Revenue Growth?

The defense market covered in this report is segmented –

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

Subsegments:

1) By Air-Based Defense Equipment: Combat Aircraft, Unmanned Aerial Vehicles (UAVs) or Drones, Air Defense Systems, Helicopters, Surveillance And Reconnaissance Aircraft

2) By Sea-Based Defense Equipment: Naval Vessels, Amphibious Assault Ships, Maritime Patrol Aircraft, Naval Weapon Systems, Mine Countermeasure Vessels

3) By Land-Based Defense Equipment: Armored Vehicles, Artillery Systems, Infantry Fighting Vehicles (IFVs), Military Trucks and Logistics Vehicles, Ground-based Missile Systems

4) By Defense Equipment Maintenance: Scheduled Maintenance, Unscheduled Maintenance, Technical Support Services, Logistics Support, Fleet Management

5) By Repair and Overhauling Services: Component Repair, Engine Overhaul, Avionics Repair, Structural Repair, Systems Integration and Testing

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Which Regions Are Emerging as Leaders in the Defense Market?

Asia-Pacific was the largest region in the defense market in 2024. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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