In-depth Overview Of The Global Aerospace and Defense Industry: Key Players, Market Size, Growth Rates, Geographical Breakdown, and Projections.
LONDON, Aug. 18, 2023 /PRNewswire/ –Uncover comprehensive insights within the aerospace and defense market using The Global Market Model (GMM), the world’s most comprehensive database of integrated market information. The market intelligence platform, a flagship product of The Business Research Company, provides a thorough aerospace and defense industry analysis highlighting the key aerospace and defense industry trends and challenges.
Aerospace and Defense Industry Overview: Size and Growth Rate
Based on the latest projections, the aerospace and defense market is poised to experience robust expansion at an impressive Compound Annual Growth Rate (CAGR) of 6.3% from 2022 to 2032. The global aerospace and defense market achieved a significant value of $807.7 billion in 2022, contributing 0.8% to the global GDP. Factors fueling growth in this sector include technological advancements such as the Internet of Military Things, wireless technology, and miniaturization.
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Prominent Market Segment and Leading Region
According to The Global Market Model analysis, the defense market stood as the dominant segment in the aerospace and defense industry, capturing 65.9% of the total market share in 2022. Moreover, the United States asserted its leadership in the aerospace and defense landscape, commanding a substantial 29.2% of the total market share in the same year.
Aerospace and Defense Industry Outlook
As we delve into the future prospects of the aerospace and defense industry, the forecast remains steady when compared to the previous projections concluded in 2022. Geopolitical uncertainties stemming from events like the Russia–Ukraine conflict have prompted various countries to increase military expenditures, a facet that was previously factored into our forecasts. Therefore, our projections for the aerospace and defense sector remain consistent in this update cycle.
For aerospace and defense companies, corporations, and investors seeking exclusive insights into this industry, The Global Market Model offers thorough analysis of key industry metrics, encompassing:
- Government spending on defense
- Number of enterprises
- Number of employees
Secure a competitive edge and maintain prominence in the aerospace and defense market by leveraging the insights provided by The Global Market Model –
With coverage across over 7,000 markets, GMM presents thorough forecasts updated biannually, encompassing economic, geopolitical, and sector-specific elements across 27 industries and spanning more than 58 geographical regions. Keep a step ahead of competitors and make well-informed decisions supported by GMM’s extensive analysis and dependable market intelligence.
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SOURCE The Business Reseach Company