Global Air Based Defense Equipment Market
Dublin, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The "Air based Defense Equipment Global Market Report 2022, By Type, Operation, Component" report has been added to ResearchAndMarkets.com's offering.
The global air based defense equipment market is expected to grow from $ 178.46 billion in 2021 to $ 191.74 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $ 246.42 billion in 2026 at a CAGR of 6.5%.
The air-based defense equipment market consists of sales of air-based defense equipment by entities (organizations, sole traders, and partnerships) that produce air-based defense equipment including support and auxiliary equipment for the air-based defense such as radar, satellites, sonars and other auxiliary equipment.
The main types of air-based defense equipment are fighter aircraft; military helicopters military gliders and drones. A fighter aircraft is a fixed-wing aircraft designed for air-to-air combat against other aircraft. The various forms of ownership include private and public. The different components include weapon system, fire control system, command and control system, others.
Asia Pacific was the largest region in the air based defense equipment market in 2021. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) are expected to drive innovation in the air-based defense market, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins.
Uncertainty about government stabilities and policies affects the import of raw materials required for manufacturing aircraft parts, creating a negative impact on the air-based defense equipment market. Uncertainties about government policies brought about by the cancellation of trade agreements cause companies to decrease their import volumes to keep expenditures at the levels of previous years or to increase prices of finished products due to increased costs.
For instance, the withdrawal of the USA from the Trans-Pacific Partnership (TPP) trade deal and the $250 billion tariffs on imported products from China by the US government to protect the US steel industry, have pushed up the costs for all defense as well as for commercial aircraft parts. Therefore, hindering the growth of the air-based defense equipment market.
Companies in the air-based defense equipment manufacturing market are using 3D printing technology to develop lightweight structures as well as nonstructural military aircraft parts. 3D printing technology can be used to build three-dimensional objects using digital models by laying successive layers of material.
3D printing is used in air-based equipment manufacturing to create military aircraft parts with complex geometries quickly at a low cost. The technology creates three-dimensional models of aircraft parts using metals, plastics, polymers, ceramics, and other derivatives. For instance, in 2019, the U.S. Air force installed 17 3D printing parts on its C-5 Super Galaxy transport jet. The installed parts included crew bunk areas of the plane, overhead panels, reading, and emergency light covers, window reveals gasper panels and aluminum seal retention handles.
1) By Type: Fighter Aircrafts; Military Helicopters; Military Gliders and Drones
2) By Operation: Autonomous Air based Defense Equipment; Manual
3) By Component: Weapon System; Fire Control System; Command and Control System; Others
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Air based Defense Equipment Market Characteristics
4. Air based Defense Equipment Market Product Analysis
5. Air based Defense Equipment Market Supply Chain
6. Air based Defense Equipment Market Customer Information
7. Air based Defense Equipment Market Trends And Strategies
8. Impact Of COVID-19 On Air based Defense Equipment
9. Air based Defense Equipment Market Size And Growth
10. Air based Defense Equipment Market Regional Analysis
11. Air based Defense Equipment Market Segmentation
12. Air based Defense Equipment Market Segments
13. Air based Defense Equipment Market Metrics
14. Asia-Pacific Air based Defense Equipment Market
15. Western Europe Air based Defense Equipment Market
16. Eastern Europe Air based Defense Equipment Market
17. North America Air based Defense Equipment Market
18. South America Air based Defense Equipment Market
19. Middle East Air based Defense Equipment Market
20. Africa Air based Defense Equipment Market
21. Air based Defense Equipment Market Competitive Landscape
22. Key Mergers And Acquisitions In The Air based Defense Equipment Market
23. Market Background: Defense Market
26. Copyright And Disclaimer
Lockheed Martin Corporation
Airbus Group SE
The Boeing Company
Bae Systems plc.
Raytheon Technologies Corporation
Honeywell International Inc.
Northrop Grumman Corp.
Rostec State Corporation
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