The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Sept. 1, 2023 /PRNewswire/ — The market size for aerospace and defense is anticipated to reach an impressive $1076.56 billion by 2027, driven by a commendable Compound Annual Growth Rate (CAGR) of 5.9%. In the dynamic landscape of the aerospace and defense industry, where innovation and strategic insights are crucial, understanding market trends is paramount.
To navigate this evolving sector successfully, businesses need accurate and up-to-date information that can inform their decisions. TBRC’s comprehensive report on the aerospace and defense industry offers invaluable insights, analysis, and forecasts that equip businesses with the knowledge to seize opportunities, mitigate risks, and make well-informed choices to thrive in this dynamic market landscape.
View The Business Research Company’s top eleven market reports in the aerospace & defense industry:
- Airborne ISR Global Market Report 2023
The airborne Intelligence, Surveillance, and Reconnaissance (ISR) market is poised for substantial growth, projected to reach $30.29 billion by 2027 with a Compound Annual Growth Rate (CAGR) of 4.3%. This expansion is primarily attributed to the escalating concerns surrounding the potential for terror attacks. As the threat landscape evolves, the demand for advanced airborne ISR solutions is expected to surge, as these technologies play a pivotal role in enhancing situational awareness and enabling proactive security measures.
2. Autonomous Aircraft Global Market Report 2023
Anticipated at a Compound Annual Growth Rate (CAGR) of 6.9%, the global autonomous aircraft market is forecasted to expand and reach $1.09 billion by the year 2027.
The progression of artificial intelligence stands as a significant catalyst propelling the expansion of the autonomous aircraft market.
3. Commercial Radars Global Market Report 2023
The aerospace sector’s commercial radars market holds substantial potential through technological progress and inventive developments in surface movement and air surveillance radars. Surface movement radars, which oversee aircraft and vehicle movements within the maneuvering area, offer enhanced safety by furnishing guidance and support for the secure and effective navigation of aircraft and vehicles. This presents noteworthy prospects for the market, bolstered by these advancements, aiming to bolster safety and operational efficiency.
4. Military Helicopters Global Market Report 2023
The landscape of the military helicopter market is being molded by advancements in helicopter manufacturing processes. In recent times, the global helicopter industry has undergone a notable evolution driven by considerable technological progress. These advancements encompass a wide array of innovations, such as the widespread adoption of additive manufacturing, comprehensive computational structural dynamics modeling, advanced condition-based maintenance (CBM) techniques, fly-by-wire control systems, health and usage monitoring systems (HUMS), and sophisticated turbine engine programs.
5. Military Radars Global Market Report 2023
Projected at a Compound Annual Growth Rate (CAGR) of 6.1%, the global military radars market is poised to expand to $79.37 billion by 2027.
The augmentation in defense expenditure by emerging economies has played a pivotal role in fueling the expansion of the military radar market. This military spending encompasses various aspects such as operational activities, maintenance, procurement of weaponry and armored vehicles, as well as research and development endeavors in the military domain.
6. Missiles Global Market Report 2023
Artificial intelligence stands out as a prominent trend that is rapidly gaining traction within the missiles market. Nations worldwide are actively incorporating artificial intelligence into missile design to enable precision strikes on targets that are beyond human reach. This integration of artificial intelligence empowers missiles with the capability to engage moving targets and offers a level of accuracy surpassing that of alternative technologies.
7. Reusable Launch Vehicle Global Market Report 2023
Anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 12.0%, the global market for reusable launch vehicles is projected to expand to $3.38 billion by the year 2027.
The surge in satellite launches is poised to act as a driving force behind the forthcoming growth of the reusable launch vehicle market.
8. Aircraft Brake System Global Market Report 2023
The aircraft brake system market is anticipated to witness substantial growth, reaching a size of $12.44 billion by 2027, driven by a Compound Annual Growth Rate (CAGR) of 6.8%. This growth trajectory is significantly influenced by the expanding fleet size of both commercial and defense aircraft. As the global aviation sector experiences an increase in the number of aircraft, the demand for efficient and reliable aircraft brake systems is expected to rise, thereby fueling the growth of this market segment in the foreseeable future.
9. Aircraft Maintenance, Repair and Overhauling Services Global Market Report 2023
The aircraft maintenance, repair, and overhaul (MRO) services sector’s market size is projected to reach $76.87 billion by 2027, experiencing a Compound Annual Growth Rate (CAGR) of 3.3%.
Swift progressions in wireless technology and the practice of miniaturization—designing smaller equipment components—are anticipated to stimulate innovation within the defense market, consequently propelling the market’s growth throughout the forecast period.
10. Sea based Defense Equipment Global Market Report 2023
Enterprises engaged in the manufacturing of sea-based defense equipment are actively creating equipment that incorporates artificial intelligence and robotics. This integration of advanced technologies is particularly evident in sea-based defense systems like submarines and warships. By leveraging these innovations, such equipment gains the capability to execute offensive actions with reduced human intervention, while also enhancing its ability to detect and assess potential threats.
11. Airport Security Global Market Report 2023
One of the notable trends gaining traction in the airport security market is the integration of technological advancements. This trend encompasses various innovations such as RFID baggage reconciliation systems, remote check-in procedures, electronic gates (e-gates), and the advancement of sensor equipment. These technologies are increasingly gaining popularity as they play a crucial role in enhancing the efficiency and effectiveness of airport security measures. The adoption of these advanced solutions reflects the industry’s commitment to bolstering safety, streamlining processes, and ensuring a seamless travel experience for passengers.
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