General defense includes military, aerospace, and security segments. General defense industry is involved in manufacturing and selling of security weapons and equipment. It is divided into commercial industry and government departments. Commercial industry includes arms producing companies, which produce weapons mainly for state armed forces. Government departments are also involved in buying and selling of arms and ammunition. Some of the products in this category are guns, missiles, aircrafts, military vehicles & critical technology, ships, electronic systems and among others.
Defense industry has been declining, mainly because of defense budget cuts in the US which is the major buyer of defense weapons. However, increasing security threats is expected to result in an increased US Department of Defense (DoD) budget. As per defense experts, Middle East and India are the next most lucrative markets, which are expected to drive the future growth and performance of the industry.
Moreover, this industry is anticipated to grow as governments are modifying their defense weapons platforms, and next generation technologies, which includes cyber security, defense electronics, and precision strike capabilities. Cyber defense is trending as the most demanding component in this industry. Governments are ready to spend huge amounts to boost their cyber capabilities and to avoid any cyber-attack.
Top players in defense industry are Lockheed Martin (US), Boeing (US), BAE Systems (UK), Raytheon (US), General Dynamics (US), Northrop Grumman (US), and Airbus Group (EU) among others. Top defense weapon exporting countries are United States, Russia, China, Germany and France, and top importers are India, Saudi Arabia, China, UAE and Pakistan.
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