Global Defense Spending has been on a major upswing over the recent years spurred by the return of the great power competition amongst the leading global powers. The focus has been on equipment modernization, capabilities revitalization and increased R&D outlays towards development of next generation & game changer technologies with the traditional as well as the revisionist powers looking for a potential overmatch & that much vaunted military edge. The United States continues to maintain the traditional top spot driven by the nation’s significant focus & investments towards R&D while the Chinese ascension & the Russian resurgence, too, are being funded adequately.
Global Defense Spending, standing at just over 2% of the Global GDP for 2019, has been growing at a scorching pace since the onset of this great power competition with the growth rate, pegged at 3.6% for 2019, almost paralleling the Cold War era highs. The Middle East, Eastern Europe & the Asia-Pacific regions remain as the traditional battlefields for dominance & influence amongst the great powers of the world with political instability, ongoing conflicts & territorial disputes reigning supreme across these regions fuelling demand of military equipment by the regional powers & leading nations across these regions for both defense & offense purposes which has given huge propulsion to arms imports & initiation of indigenous, large scale defense programs over the recent years with the Asia-Pacific region bagging the top spot, a trend which is likely to be sustained over medium term.
This return to the age of multipolarity, marked by the onset of great power competition at the world stage stymieing the forces of globalization & marking the resurgence of the age of realism, has simultaneously been superimposed by the onset of the global outbreak of the COVID-19 pandemic in early 2020, opening the second front and making the entire concoction & the emerging scheme of things even more complicated. The economic impact of the pandemic & the funding of the relief efforts, underway across the globe, are likely to put pressure on government finances across most parts of the world. However, their impact on defense spending is likely to be limited to near term & non-strategic programs. Most strategic & long term, indigenous defense programs as well as technology development efforts are likely to be more or less immune in nature, even to the highly infectious & lethal Novel Coronavirus and the resulting COVID-19!
Against this backdrop, the report analyzes the Key Aspects of the Global Aerospace & Defense market in a post COVID-19 world, which include:-
Key Focus Areas
1. Defense Spending Trends, Analysis & the Road Ahead – Growth Areas, Markets & Opportunities
2. Key Growth Domains which are likely to form the core of the growth story over medium term – Potential Size & Scope of the Opportunities
3. Key Upcoming, Strategic Defense Programs – Factsheets from Origins to Scope to Latest Developments & Contract Awards
4. Emerging & Game Changer Technologies that are likely to Induce the Paradigm Shift – Outline of R&D Efforts, Investment Priorities & Latest Developments
The report would be quintessential for all those who need a futuristic perspective on the A&D market in a post-COVID-19 world with the contents being a niche, key and vital information resource on Aerospace & Defense with its unique disposition & focus. The report would be a must have for those belonging to the industry & having strategic interests as well as stakes in the Global Aerospace & Defense Market & its evolution going forward. The report will be extremely useful for Leaders & Key Decision-Makers, Top Management of Industry Players & Companies, Program Managers, Global Procurement Managers, Defense Contracting Executives & Departments, Industry OEMs, Suppliers, Vendors, Associated Equipment Manufacturers and other Key Players in the Industry Value Chain. The report will also be useful for existing & potential Investors, Industry & Company Analysts, M&A Advisory Firms, Strategy & Management Consulting Firms, PE Firms, Venture Capitalists, Financing & Leasing Companies, Researchers and all those associated with the industry.