Global Market Research Reports

  Overview and Scope The defense refers to a range of activities including production of air-based, sea-based, and land-based military equipment, including support and auxiliary equipment such as radar, satellites, sonars, and other auxiliary equipment, or maintain, repair, and overhaul defense equipment.   Sizing and Forecast The defense market size has grown strongly in recent years. It will grow from $575.33 billion in 2023 to $616.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%.   The   growth in the historic period can be attributed to increasing the use of military drones, demand for attack and transport helicopters, low-interest rates, increasing spending on military equipment, increasing development of autonomous fighter jets and increasing military expenditure.   The defense market size is expected to see strong growth in the next few years. It will grow to $772.49 billion in 2028 at a compound annual growth rate (CAGR) of...