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United States Defense Market Size, Share, Growth, Analysis: By Armed Force: Army, Navy, Air Force; By Type: Weapons and Ammunition, Vehicles, Communication Systems, Personnel Training, Simulation, and Protection Equipment; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
United States Defense Market Outlook
The United States defense market size reached approximately USD 649.78 billion in 2023. The market is estimated to grow at a CAGR of 0.8% in the forecast period of 2024-2032, supported by growing geopolitical tensions.
Key Trends in the Market
Defense refers to a country’s armed forces such as the army, navy and airforce, which are responsible for military warfare and dealing with external threats. It also refers to a range of defensive activities and the utilisation of weapons such as aeroplanes, artillery guns, and tanks to combat an enemy attack.
- One of the prominent United States defense market trends is the enforcement of cyber defense solutions as well as the development of cyber warfare capabilities by the US government to protect the critical defense infrastructure against ever-growing cyberattacks.
- Increased production of advanced defense equipment such as directed energy weapons that can provide high precision attacks and high-speed travel during time-critical military threats is another crucial trend boosting the US market expansion.
- The defense sector of the country is harnessing the capabilities of AI to enhance reasoning abilities for intelligence, surveillance, and reconnaissance (ISR) missions, predict military equipment failure using real-time data, and train armed forces in AI-driven simulation.
- Favourable government incentives to promote the development of advanced armed forces also contribute to the United States defense market growth. For example, in November 2023, the US Air Force awarded a contract of $2.3 billion to Boeing company for the production of 15 KC-46A Pegasus refuelling tankers to carry out refuelling missions around the world.
Market Analysis
Based on armed force, the market is divided into army, navy, and air force. The United States defense market segmentation, on the basis of type, includes weapons and ammunition, vehicles, communication systems, and personnel training, simulation, and protection equipment.
The weapons and ammunition segment is further categorised based on type into artillery and mortar systems, infantry weapons, missile and missile defense systems, and ammunitions. The vehicles segment is further classified based on type into land-based vehicles, sea-based vehicles, and air-based vehicles. The major regional markets of defense in the United States are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States defense market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- The Boeing Company
- Lockheed Martin Corporation
- Northrop Grumman Corp.
- RTX Corporation
- Thales SA
- BAE Systems plc
- SAAB AB
- Airbus SE
- Leonardo S.p.A
- General Dynamics Corp.
- L3Harris Technologies Inc.
- Huntington Ingalls Industries Inc.
- Others
Market Share by Armed Force
As per the United States defense market analysis, air force occupies a significant share of the US market, owing to the growing efforts in the upgradation and replacement of ageing aircraft. The growing integration of the latest technologies in the airforce sector also supports the segment’s growth.
For example, in December 2023, Keysight Technologies, a manufacturer of electronic equipment, gained a contract of $18.5 million for the development of Electronic Warfare Threat Simulator (EWTS) systems for the US Air Force to analyse and create high-density threat environments. Moreover, the procurement of sophisticated military aircraft by the US government offers a positive market outlook.
Market Share by Type
Weapons and ammunition account for a substantial portion of the United States defense market share, due to factors such as surging combat operations, which require an effective weapon arsenal, as well as the rising partnership between the US and other countries for the production of weapons.
Increased deployment of high-end military weapons and ammunition in the country also supports the segment’s growth. Initiatives such as the Long Range Strike Bomber (LRS-B) programme of the US government aimed towards manufacturing stealth aircraft that can drop thermonuclear weapons in enemy territory without being detected are also propelling the market expansion.
Competitive Landscape
The Boeing Company, incorporated in 1916, is a manufacturer of aeroplanes, rotors, rockets, and satellites, among others. The company, based in Virginia, the United States, consists of four primary divisions such as Boeing Commercial Airplanes (BCZA), Boeing Capital, Boeing Global Services, and Boeing Defense, Space and Security (BDS). The company is accelerating the implementation of sustainable aviation fuels as a part of its sustainability initiative.
Lockheed Martin Corporation, established in 1995, is a leading provider of aerospace and defense solutions. It operates in the sectors of aeronautics, missile and fire control, rotary and mission systems, and space. It is headquartered in Maryland, the United States and focuses on integrating artificial intelligence, hypersonics, and other innovative technologies in its operation.
Northrop Grumman Corp., founded in 1994, is a global aerospace and defense company, with its headquarters in Virginia, the United States. Its comprehensive range of products includes engine components, unmanned aerial vehicles, hazardous-duty robots, and sensors, among others. The company is also known for offering services such as surveillance and reconnaissance, battle management, protected communication, and strike operations, among others.
Other United States defense market players include RTX Corporation, Thales SA, BAE Systems plc, SAAB AB, Airbus SE, Leonardo S.p.A, General Dynamics Corp., L3Harris Technologies Inc., and Huntington Ingalls Industries Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Armed Force |
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| Breakup by Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Defense Market Overview
8.1 Key Industry Highlights
8.2 North America Defense Historical Market (2018-2023)
8.3 North America Defense Market Forecast (2024-2032)
9 United States Defense Market Overview
9.1 Key Industry Highlights
9.2 United States Defense Historical Market (2018-2023)
9.3 United States Defense Market Forecast (2024-2032)
10 United States Defense Market by Armed Force
10.1 Army
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Navy
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Air Force
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United States Defense Market by Type
11.1 Weapons and Ammunition
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Type
11.1.3.1 Artillery and Mortar Systems
11.1.3.2 Infantry Weapons
11.1.3.3 Missile and Missile Defense Systems
11.1.3.4 Ammunitions
11.2 Vehicles
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Breakup by Type
11.2.3.1 Land-based Vehicles
11.2.3.2 Sea-based Vehicles
11.2.3.3 Air-based Vehicles
11.3 Communication Systems
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Personnel Training, Simulation, and Protection Equipment
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 United States Defense Market by Region
12.1 New England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mideast
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Great Lakes
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plains
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Southeast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Southwest
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Rocky Mountain
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Far West
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 The Boeing Company
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Lockheed Martin Corporation
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Northrop Grumman Corp.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 RTX Corporation
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Thales SA
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 BAE Systems plc
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 SAAB AB
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Airbus SE
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Leonardo S.p.A
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 General Dynamics Corp.
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 L3Harris Technologies Inc.
14.2.11.1 Company Overview
14.2.11.2 Product Portfolio
14.2.11.3 Demographic Reach and Achievements
14.2.11.4 Certifications
14.2.12 Huntington Ingalls Industries Inc.
14.2.12.1 Company Overview
14.2.12.2 Product Portfolio
14.2.12.3 Demographic Reach and Achievements
14.2.12.4 Certifications
14.2.13 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Defense Market: Key Industry Highlights, 2018 and 2032
2. United States Defense Market: Key Industry Highlights, 2018 and 2032
3. United States Defense Historical Market: Breakup by Armed Force (USD Billion), 2018-2023
4. United States Defense Market Forecast: Breakup by Armed Force (USD Billion), 2024-2032
5. United States Defense Historical Market: Breakup by Type (USD Billion), 2018-2023
6. United States Defense Market Forecast: Breakup by Type (USD Billion), 2024-2032
7. United States Defense Historical Market: Breakup by Region (USD Billion), 2018-2023
8. United States Defense Market Forecast: Breakup by Region (USD Billion), 2024-2032
9. United States Defense Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 649.78 billion.
The market is projected to grow at a CAGR of 0.8% between 2024 and 2032.
The major market drivers are increased investments in the aerospace and defense sector, growing geopolitical tension across the world, and the rising deployment of advanced military weapons.
The key trends of the market include the enforcement of cyber defense solutions as well as the development of cyber warfare capabilities, increased production of advanced defense equipment, and the rising utilisation of AI by defense sector.
The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Different armed forces are army, navy, and air force.
The various defense types considered in the market report are weapons and ammunition, vehicles, communication systems, and personnel training, simulation, and protection equipment.
The key players in the market are The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corp., RTX Corporation, Thales SA, BAE Systems plc, SAAB AB, Airbus SE, Leonardo S.p.A, General Dynamics Corp., L3Harris Technologies Inc., and Huntington Ingalls Industries Inc., among others.
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