The Global Defense spending has been on a major upswing led by the return to great power competition amongst leading geopolitical powers spearheaded by R&D led technological evolution. The realignment of U.S. defense spending focus on competing with near peer adversaries and maintaining the traditional overmatch over adversaries has accelerated the pace of replacement of ageing equipment with the award of several new defense contract awards over the recent years & many others in pipeline which remain a key focus area for the industry given their strategic nature, scale as well as scope & long term horizon. This shift in strategic focus entails fast tracked procurement of systems & hardware to maintain numerical superiority besides rapid development & deployment of next generation capabilities to plug existing & potential capabilities gaps and to retain the traditional, long standing strategic capabilities overmatch against adversaries along with continued R&D pursuits to maintain technological edge.
Defense spending has been on a sustained growth trajectory in the EU as well with the French defense budget for 2021 registering an increase over 2020 in line with France’s 2019-2025 military program law despite the pandemic and economic pressures. The German defense spending too is poised for a 3.9% increase for 2021 and is likely to remain stable through 2024 auguring well for the joint Franco-German defense programs going forward with the European Aerospace & Defense industry witnessing a growing trend towards pursuit of joint defense equipment development programs.
The demand side growth, led by changing geopolitical equations & dynamics, is being counterbalanced with the technological advancements & evolution by the supply side, led by the industry, which is incentivizing the replacement of legacy defense hardware worldwide with next generational equipment marking a quantum leap in performance & capabilities while offering an optimized total cost of ownership. The outbreak of COVID-19 pandemic globally in early 2020 has had an unprecedented impact on the world economy and has put tremendous pressure on government finances across most parts of the world, has decimated commercial aviation and the same is also likely to have an impact on defense spending over near term. However, strategic & long term programs are unlikely to be impacted by the same across most parts of the world going forward.
Against this backdrop, the report analyzes and provides insights into key industry, market & technology trends likely to shape the future of the global aerospace & defense market over near to medium term followed by outlining emerging, potential growth opportunities.
Relevance & Usefulness: The report will be useful for:
- - Strategic Planning & Decision-Making Processes
- - Identification of & Insights into Potential Growth Opportunities & Avenues
- - Market Evolution & Demand Growth Projections over Next Decade
- - Key Upcoming, Strategic Defense Programs - Overview
- - Global Defense Budgetary Trend and Defense Budgetary Spending Levels across Key Markets
- - Identifying & highlighting areas for making potential Strategic Changes, Adjustments & Realignment
- - Overview of Key, Emerging Technologies that are likely to Shape the future
For Whom: Key Decision-Makers across Industry Value Chain
The report would be quintessential for those having strategic interest in the Global Aerospace & Defense Industry. The report will be extremely useful for Key Decision-Makers, Program Managers, Global Procurement Managers, Defense Contracting Executives & Departments, Top Management of Industry Players & Other Companies, 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. The report is comprehensive yet concise & compact at the same time; is custom-built for meetings & presentations, being built on the Microsoft PowerPoint platform; in addition, to being a ready self-reckoner as well as a quick reference guide driving, enabling & ensuring prompt and informed decision making.