Global Aerospace & Defense Market to Surge, Reaching $855.62 Billion in 2023

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, GREATER LONDON, UK, December 7, 2023 /EINPresswire.com/ — The global aerospace & defense market is set for substantial growth, with the market size expected to increase from $795.92 billion in 2022 to $855.62 billion in 2023, reflecting a noteworthy Compound Annual Growth Rate (CAGR) of 7.5%. the market is projected to continue its upward trajectory, reaching a market size of $1076.56 billion by 2027, sustaining a CAGR of 5.9%.

Influence of Low Interest Rates on Aerospace & Defense Market
Developed countries are expected to experience low interest rates during the forecast period as monetary authorities reduce rates to stimulate economic growth. The flow of cheap money for investment is expected to boost the aerospace and defense markets. Notably, major countries such as the USA, Germany, and Japan had low-interest rates in the historic period. This economic environment encourages borrowing for investment, driving spending and contributing to the growth of the aerospace and defense markets.

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Major Players in the Aerospace & Defense Market
Key players shaping the aerospace & defense market include Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, General Dynamics, General Electric Company, and Safran SA. These industry leaders contribute to innovation and play a crucial role in the global aerospace and defense landscape.

Segments of the Global Aerospace & Defense Market
1. Type:
• Aerospace
• Defense
2. Operation:
• Autonomous
• Manual
3. Component:
• Weapon System
• Fire Control System
• Command and Control System
• Others

Regional Insights: North America Leads, Expected to be the Fastest Growing
North America emerged as the largest region in the aerospace & defense market in 2022, and it is anticipated to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Aerospace And Defense Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Aerospace And Defense Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on aerospace and defense market size, aerospace and defense market drivers and aerospace and defense market trends, aerospace and defense market major players, aerospace and defense market competitors’ revenues, aerospace and defense market positioning, and aerospace and defense market growth across geographies. The aerospace and defense market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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