$250.9bn
$XX.Xbn
506k
1,778
$XX.Xbn
Recent fluctuations in US federal defense funding have created volatility within the defense industry. The US, as the largest defense market, significantly influences global trends. Though defense funding has generally risen, budget cuts in 2021 and 2022, partly due to the US's withdrawal from Afghanistan and a focus on pandemic response, resulted in industry declines. Despite slower growth in aircraft demand, rising geopolitical tensions and conflicts like those in Ukraine and the Middle East have driven significant increases in missile demand, resulting in overall industry growth. Missiles, due to their immediate and versatile response capabilities, have outpaced growth in aircraft demand. Overall, the industry is projected to grow at a CAGR of 2.7%, reaching $250.8 billion by 2024, with an anticipated 5.2% increase in 2024 alone.
Industry revenue has grown at a CAGR of 2.7 % over the past five years, to reach an estimated $250.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Lockheed Martin Corporation | 52,651.5 | 6,780.2 | 12.9 | |
Raytheon Technologies Corporation | 31,017.8 | 2,828.7 | 9.1 | |
The Boeing Company | 27,132.7 | -1,578.1 | -5.8 |
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Industry revenue is measured across several distinct product and services lines, including Military aircrafts, Complete guided missiles and Military aircraft engines. Military aircrafts is the largest segment of the Global Military Aircraft & Aerospace Manufacturing.
Military aircraft are sought for national defense strategies
Companies in the Global Military Aircraft and Aerospace Manufacturing industry manufacture complete military aircraft, missiles or space vehicles, along with associated parts and services. Industry operators also develop prototypes of aerospace products, convert aircraft (i.e. conduct major modifications to systems) and complete aircraft or propulsion system overhaul and rebuilding (i.e. periodically restoring aircraft to original design specifications).
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Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Missile demand boosts industry. Missile systems have seen heightened demand, propelled by regional conflicts and their strategic advantages over aircraft in certain scenarios...
Learn about an industry's products and services, markets and trends in international trade.
Military aircraft form an essential part of national defense strategies. Demand for these aircraft is continually driven by the need for air superiority and technological adv...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The US continually invests in advanced military aviation technology to maintain global leadership and preparedness. Emphasis on innovation, significant budgets and partnershi...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
There is a moderate level of competition because of the global scope of aerospace and aircraft manufacturing. Most countries' governments prefer to hire domestic contractors ...
Learn about the performance of the top companies in the industry.
Lockheed Martin to Acquire Terran Orbital. On August 15, 2024, Lockheed Martin announced that it has signed a definitive agreement to acquire Terran Orbital, a satellite-base...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Aircraft and aerospace manufacturers turn to their nation’s government for assistance. This can come in the form of additional employment, negotiating export deals or long-te...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Technological innovation enhances profitability by attracting premium contracts and setting market leaders apart. Meanwhile, geopolitical stability or instability can drastic...
Including values and annual change:
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The market size of the Global Military Aircraft & Aerospace Manufacturing industry in Global is $250.9bn in 2024.
There are 1,778 businesses in the Global Military Aircraft & Aerospace Manufacturing industry in Global, which has grown at a CAGR of 8.9 % between 2019 and 2024.
The market size of the Global Military Aircraft & Aerospace Manufacturing industry in Global has been growing at a CAGR of 2.7 % between 2019 and 2024.
Over the next five years, the Global Military Aircraft & Aerospace Manufacturing industry in Global is expected to grow.
The biggest companies operating in the Global Military Aircraft & Aerospace Manufacturing market in Global are Lockheed Martin Corporation, Raytheon Technologies Corporation and The Boeing Company
Manufacturing military aircraft, missiles and space vehicles and Manufacturing military aerospace engines, propulsion units, auxiliary equipment or parts are part of the Global Military Aircraft & Aerospace Manufacturing industry.
The company holding the most market share in Global is Lockheed Martin Corporation.
The level of competition is moderate and steady in the Global Military Aircraft & Aerospace Manufacturing industry in Global.