US Defense Industry Size & Share Analysis – Growth Trends & Forecasts (2024 – 2032)

WAR RACKET--CATASTROPHE CAPITALISM, 6 May 2024

Mordor Intelligence - TRANSCEND Media Service

The US Defense Market is Segmented by Armed Forces (Army, Navy, and Air Force) and Type (Fixed-Wing Aircraft, Rotorcraft, Ground Vehicles, Naval Vessels, C4isr, Weapons and Ammunition, Protection and Training Equipment, and Unmanned Systems). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

US Defense Market Analysis

The US Defense Market size is estimated at USD 309.77 billion in 2024, and is expected to reach USD 367.30 billion by 2029, growing at a CAGR of 3.58% during the forecast period (2024-2029).

The US defense market is expected to grow primarily due to the armed forces’ procurement and upgrade activities to counter emerging threats. Several contracts from the military, air force, and naval force are currently underway, and many new contracts are anticipated to be dispersed during the forecast period, creating a parallel demand for defense equipment.

The US military uses multiple aircraft for usage across Air Force and Navy. Owing to the increasing international conflict with China over its aggression in the South China Sea, the United States is gearing up to tackle any potential issues China may create for countries with close ties with the United States, like Taiwan and Japan. As a result, significant investments into upgrading the existing fleet and/or purchasing a new fleet equipped with efficient technologies have been witnessed over the past years.

While the US aerospace and defense sector stands on the cusp of significant growth, it faces formidable challenges in supply chain vulnerabilities. The industry’s supply chains, often global and intricate, are susceptible to disruptions, as evidenced by the impact of the pandemic on production and logistics. In addition, the increasing integration of digital technologies and connectivity in defense systems opens up new fronts in cybersecurity risks. State-sponsored cyber threats targeting defense contractors and critical infrastructure are becoming more sophisticated, posing a serious concern. For instance, in 2022, the number of cybersecurity attacks on federal agencies in the US was 30,659.

However, addressing these challenges presents opportunities for resilience and innovation within the industry. Strengthening supply chain resilience through localized production and diversification strategies may mitigate risks associated with global disruptions. Simultaneously, investing in robust cybersecurity measures and collaboration with cybersecurity experts may fortify the industry against evolving cyber threats, ensuring the continued integrity of critical defense systems.

US Defense Market Trends

Continue reading in the Original


Tags: , , , , , , , , , , ,

This article originally appeared on Transcend Media Service (TMS) on 6 May 2024.

Anticopyright: Editorials and articles originated on TMS may be freely reprinted, disseminated, translated and used as background material, provided an acknowledgement and link to the source, TMS: US Defense Industry Size & Share Analysis – Growth Trends & Forecasts (2024 – 2032), is included. Thank you.

If you enjoyed this article, please donate to TMS to join the growing list of TMS Supporters.

Share this article:

Creative Commons License
This work is licensed under a CC BY-NC 4.0 License.

There are no comments so far.

Join the discussion!

We welcome debate and dissent, but personal — ad hominem — attacks (on authors, other users or any individual), abuse and defamatory language will not be tolerated. Nor will we tolerate attempts to deliberately disrupt discussions. We aim to maintain an inviting space to focus on intelligent interactions and debates.

1 + 4 =

Note: we try to save your comment in your browser when there are technical problems. Still, for long comments we recommend that you copy them somewhere else as a backup before you submit them.

This site uses Akismet to reduce spam. Learn how your comment data is processed.