LONDON, March 12, 2024 (GLOBE NEWSWIRE) -- Stay ahead of the competition by utilizing The Business Research Company's industry reports on the Aerospace & Defence sector. These reports offer crucial insights into market trends, growth factors, challenges, and opportunities. With thorough analysis, businesses can make informed decisions and develop strategic initiatives to maintain a competitive edge in the market.
Access the seven latest market reports in the Aerospace & Defence industry from The Business Research Company.
1. Defense Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/defense-global-market-report
The defense sector encompasses the production, maintenance, and support of air-based, sea-based, and land-based military equipment, along with auxiliary equipment like radar, satellites, and sonars. It includes various types such as air-based, sea-based, and land-based defense equipment, as well as maintenance, repair, and overhaul services, and auxiliary equipment support. Operations may involve autonomous or manual systems across airborne, land, and naval platforms.
The market is segmented by type, operation, and platform, with subsegments including fighter aircraft, military helicopters, submarines, armored vehicles, missiles, and more. It has seen strong growth, increasing from $575.33 billion in 2023 to $616.32 billion in 2024, with a CAGR of 7.1%. Factors driving this growth include the rising use of military drones, demand for helicopters, low-interest rates, increased military spending, and advancements in autonomous fighter jets.
Future projections estimate the market to continue its strong growth, reaching $772.49 billion by 2028, with a CAGR of 5.8%. This growth is driven by increasing military expenditure and technological advancements in defense equipment.
2. Aerospace Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aerospace-global-market-report
The aerospace market has experienced rapid growth, increasing from $308.67 billion in 2023 to $369.24 billion in 2024, with a CAGR of 19.6%. This growth is attributed to factors such as increased demand for air travel, technological advancements, emerging economies, changes in social behavior, and low interest rates.
Future projections estimate the market to continue its strong growth, reaching $461.93 billion by 2028, with a CAGR of 5.8%. Economic growth in emerging markets, rising disposable income, and stable growth in developed economies are expected to positively impact the commercial aircraft manufacturing market. Investments in national security are also projected to drive the aerospace market.
Major companies are focusing on introducing technology hubs like Izon to gain a competitive edge. Aerospace technology hubs serve as geographic locations that bring together technology-based companies, startups, and other organizations involved in the aerospace industry.
3. Aerospace And Defense Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aerospace-defense-global-market-report
The aerospace & defense market has witnessed rapid growth, increasing from $884 billion in 2023 to $985.56 billion in 2024, with a CAGR of 11.5%. This growth is attributed to factors such as emerging markets expansion, increased air travel demand, rising military expenditure, the proliferation of military drones, and advancements in autonomous fighter jets.
Future projections suggest continued strong growth, reaching $1234.42 billion by 2028, with a CAGR of 5.8%. Developed countries are expected to benefit from low-interest rates, stimulating economic growth and driving investment and spending.
North America led the aerospace & defense market in 2023 and is projected to be the fastest-growing region in the forecast period. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
4. Maritime Surveillance and Intervention Global Market Report 2024
The maritime surveillance and intervention market is segmented by system, services, and application, including detectors, combat management systems, surveillance and tracking, and geographic information systems (GIS). Services encompass risk assessment and investigation, maintenance and support, and security management, with applications spanning naval, coast guard, and other areas.
The market has seen rapid growth, increasing from $26.18 billion in 2023 to $29.06 billion in 2024, with a CAGR of 11.0%. Factors driving this growth include maritime security concerns, combating illegal activities and piracy, national defense initiatives, and search and rescue operations.
Future projections anticipate continued rapid growth, reaching $43.29 billion by 2028, with a CAGR of 10.5%. A key trend in the market is technological advancement, with major players focusing on developing solutions leveraging artificial intelligence, big data analytics, IoT, digital route management, surveillance satellites, and autonomous control systems to enhance market competitiveness.
5. Business Jets Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/business-jets-global-market-report
The business jets market has experienced strong growth, increasing from $22.98 billion in 2023 to $24.65 billion in 2024, with a CAGR of 7.3%. This growth is attributed to factors such as economic expansion, corporate globalization, increased business travel, and tax incentives driving productivity benefits.
Future projections anticipate continued strong growth, reaching $32.36 billion by 2028, with a CAGR of 7.0%. A key trend in the market is technological advancement, with key players focusing on incorporating advanced safety features, spacious cabins, innovative flight decks, and other cutting-edge technologies inspired by fighter jets.
North America led the market in 2023, while Asia-Pacific is expected to be the fastest-growing region in the forecast period. The market report covers regions including Western Europe, Eastern Europe, South America, the Middle East, and Africa, alongside North America and Asia-Pacific.
6. Search And Rescue Equipment Global Market Report 2024
The search and rescue (SAR) equipment market is segmented by equipment type, platform, and application. Equipment categories include rescue, search, communication, technical, planning, and others. Platforms consist of airborne, marine, and ground-based, while applications include combat SAR, urban SAR, and industrial.
The market size is projected to grow from $86.92 billion in 2023 to $91.62 billion in 2024 at a CAGR of 5.4%, attributed to factors like natural disasters, defense needs, and government funding. By 2028, it's expected to reach $115.07 billion at a CAGR of 5.9%. North America led the market in 2023, with Asia-Pacific forecasted as the fastest-growing region. Regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
7. Military Helicopters Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/military-helicopters-global-market-report
The military helicopters market has seen strong growth, rising from $59.69 billion in 2023 to $63.65 billion in 2024, with a CAGR of 6.6%. This growth is attributed to increasing military expenditure, demand for lightweight helicopters, and the need for attack and transport helicopters, supported by low interest rates.
Future projections indicate continued robust growth, reaching $77.9 billion by 2028, with a CAGR of 5.2%. Major players in the market include The Boeing Company, Airbus, Russian Helicopters, Lockheed Martin, and others.
A key trend shaping the market is technological advancements in helicopter manufacturing processes. These advancements include additive manufacturing, computational structural dynamics modeling, advanced CBM, fly-by-wire controls, HUMS, and advanced turbine engine programs, promising significant improvements in rotorcraft capabilities.
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