PUBLISHER: MarketLine | PRODUCT CODE: 1930566
PUBLISHER: MarketLine | PRODUCT CODE: 1930566
Global Aerospace & Defense industry profile provides top-line qualitative and quantitative summary information including: market size (value , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Market size of the aerospace & defense sector includes the sum of the revenues generated from military signed deals that remain under contract and new contracts signed within a particular calendar year.
The market is segmented into military aircraft, military vehicles, naval vessels, and systems & ordnance. The military aircraft segment covers aircraft engines, aviation MRO, defense helicopters, military avionics, rotorcraft, satellites, UAVs, etc. The military vehicles segment includes armored vehicles and related MRO operations, unmanned ground vehicles, vehicle armour, etc. Naval vessels segment includes maritime and border security, naval engines, naval vessels and related MRO operations, submarines and related MRO operations, and any other undersea warfare. Systems & ordnance segment includes ammunition, artillery, biometric systems, body armor, communications equipment, cybersecurity, electronic warfare, navigational systems, radars, IT and computing systems, simulation systems, missiles and missile defense systems, all ordnance and guns, soldier modernization, communications, vetronics, INS GNSS, underwater warfare systems, etc.
All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global aerospace & defense sector recorded revenues of $420 billion in 2024, representing a compound annual growth rate (CAGR) of 6.2% between 2019 and 2024.
The systems & ordnance segment accounted for the sector's largest proportion in 2024, with total revenues of $175.7 billion, equivalent to 41.8% of the sector's overall value.
In 2024, North America accounted for 40.4% share of the global aerospace & defense sector, making it the largest region globally. It was followed by Europe with 26.1% and Asia-Pacific with 27.0%.