The global Aerospace & Defense (A&D) Industry is forecast to reach US$2.5 trillion by 2024, driven by a medley of factors encompassing recovery in global defense spending; healthy commercial aviation revenue potential; and myriad technology trends which are transforming the supply chain, lifecycle dynamics of A&D products and services and operating & business models of A&D companies. Noteworthy technologies underlying the ongoing transformation include smart wearable military technologies, innovations in avionics, 3D manufacturing/additive manufacturing, innovative battery technologies, cloud computing, internet of things (IoT), automation, and artificial intelligence (AI) and analytics for predictive insights and data for faster and accurate decision making. Innovation in defense technologies especially remains vibrant given its importance in influencing the future of military capabilities. A trend in this regard poised to benefit the industry is the emergence of multi-dimensional innovation. Unlike earlier, innovation in military-centric technologies no longer comes only from the defense communities, rather commercial firms, research institutes and academia are increasingly contributing to the innovation pool. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 8.2% over the analysis period led by factors such as the region’s potential to emerge as the world’s largest travel market led by China; escalating border tensions in South China Sea and among the Asian countries and the ensuing dedicated increase in defense and military budgets; growing role of electronic warfare systems; increased focus on missile development projects; rising investments in UAVs and drones armed with combat capabilities; and growing focus on C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) as the backbone of modern military operations; and growing spending on smart aerospace electronics/avionics.
DOMAIN EXPERT ENGAGEMENTS
Number of executives repeatedly engaged by snail & email outreach*
POOL + OUTREACH
Interactions with Platform & by Email *
Unique # Participated *
Responses Validated *