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Defense Market size predicted to exceed USD 10.5 billion by 2023

Defense Market Size, Industry Outlook, Regional Analysis, Application Development, Competitive Landscape & Forecast, 2016 – 2023

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Defense Market size predicted to exceed USD 10.5 billion by 2023

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  1. Defense Market size is predicted to grow with 6.1% CAGR to hit USD 10.5 billion by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Regional Analysis of Defense Market: • Countries namely UAE, Saudi Arabia, India, South Korea, Japan, China and Russia exhibit potential growth prospects owing to threat from other countries. Defense companies are expected to witness huge growth opportunities owing to increasing investment in next generation ISR, unmanned combat land and sea vehicles, cognition & data analytics as well as improved precision strike with the assistance of non kinetic weapons. • U.S. MDA (Missile Defense Agency) and Raytheon are jointly working on development of MOKV (Multi-Object Kill Vehicle) concept. These are specialized equipments that are likely to steer itself to the target and destroy the objects in space. In addition, India has test fired its AAD (advanced air defense) interceptor missile developed by DRDO (Defense Research and Development Organisation).

  3. Application Analysis of Defense Market : • Countries such as China, Israel and Russia defense market see significant spending in improvising their resistance systems. As of 2015, U.S spends around 54% of its fiscal budget for military utilities and accounted for 37% of the overall industry share. • It spends as much as USD 610 billion and ranks first in case of defense expenditure across the globe. Japan, China, United Kingdom, Russia, Germany, South Korea, France, Saudi Arabia and India collectively valued for USD 601 billion in 2015. • The global defense market is estimated to face two major challenges over the forecast period namely, profitability growth and cost cutting to maintain financial performance. In order to tackle these conditions several counties namely India is now focusing on defense foreign investments and technology platforms for increasing production operations in the country. As of 2015,

  4. Competitive Market Share of Defense Market: • Key industry participants in defense market share include Boeing, EADS/Airbus, United Technologies, Raytheon, Northrop Grumman and General Atomics Aeronautical Systems, ABG Shipyard Limited (ABG), Adcom Military Industries, Bharat Dynamics Limited, Brazilian Company Avionics Services, CADES Engineering Technologies Ltd, Cassidian Cyber Security, EBV Explosives Environmental Company,Direction des Constructions Navales Services (DCNS), BAE Systems Information and Electronic Systems Integration Inc. (US), EUREST Raytheon Support Services , European Advanced Technology S.A., Hispano-Suiza, HCL Aerospace & Defense and Advance Tech Control Pvt Ltd.

  5. Browse Full Market Research Report On Defense Market @ https://www.gminsights.com/industry-analysis/defense-market Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/223 Gaming Console Market

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