Aerospace, Defense & Security

Sonar systems will dominate global underwater warfare systems market by 2031

The growing adoption of integrated sonar suites (ISS) on technologically advanced surface ships and submarines is expected to propel the sonar segment to garner the largest share (49%) of global spending on underwater warfare systems (UWS) over the next decade. The sonar segment is expected to reach US$3.1bn by 2031, growing at a compound annual […]

German defense budget growth to -0.04% by 2026 despite pressure from NATO allies, says GlobalData

Germany’s defense budget growth is set to slow from 2022 in response to the pandemic to register a negative compound annual growth rate (CAGR) of -0.04% by 2026, says GlobalData. The leading data and analytics company notes that is will add to ongoing ill feeling among NATO members about levels of defense spending by the […]

Aerospace, Defense & Security

Development of maritime surveillance and tactical airlift capability to drive New Zealand’s defense expenditure, says GlobalData

Driven by the requirement to expand maritime surveillance and tactical airlift competence, New Zealand’s defense budget is set to grow at a compound annual growth rate (CAGR) of 1.76% from US$2.9bn in 2021 to US$3.3bn in 2026, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘New Zealand Defense Market – Attractiveness, Competitive […]

Aerospace, Defense & Security

Hungary unlikely to meet its Zrínyi 2026 spending target due to economic impact of COVID-19, says GlobalData

Hungary’s defense budget saw an increase over the 2017-2021 period due to the announcement of its modernization program, Zrínyi 2026. The government will develop its defense fleet through several important procurements and increase its defense expenditure to reach 2% of its overall GDP by 2024. However, Hungary is unlikely to meet its Zrínyi 2026 spending […]

Aerospace, Defense & Security

Chinese and North Korean threats to spur Japan’s defense expenditure through 2026, says GlobalData

Driven by the need to curtail the expanding influence of China along with its intention to change the global geo-strategic order in its favour, Japan has planned to increase its defense expenditure through 2026. Japan, China and Taiwan are party to the Senkaku Islands dispute, continuing to stake claim over the strategically important group of […]

Aerospace, Defense & Security

China and India likely to be pitched for Russia’s next-generation S-500 air defense system, says GlobalData

Following the news that the Russian Ministry of Defence released footage of the S-500 Prometey missile defense system in action; Sourabh Banik, Aerospace & Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “Apart from becoming the mainstay air defense system of Russian forces, the S-500 has potential to become a […]

Aerospace, Defense & Security

Swiss population’s desire to uphold self-defense capabilities is driving Switzerland’s defense expenditure

Switzerland’s defense budget is forecasted to continue to grow despite economic pressures from the COVID-19 pandemic, driven by the public to continue to fund self-defense acquisition programs. The Swiss defense expenditure is forecasted to grow from US$7.9bn in 2021 to US$8.6bn in 2026, registering a modest compound annual growth rate (CAGR) of 0.86%, says GlobalData, […]

Aerospace, Defense & Security

New fifth-generation Russian jet likely aimed at export market, says GlobalData

Following the news that a new claimed gen-5 military aircraft codenamed ‘Checkmate’ will be unveiled today (20 July), on the first day of the MAKS-2021 International Aviation and Space Salon; William Davies, Associate Defense Analyst at GlobalData, a leading data and analytics company, comments: “Sukhoi’s claimed fifth-generation platform is likely intended to compete with the […]

Aerospace, Defense & Security

Indian Navy’s US$6bn submarine program offers opportunities for foreign AIP providers, says GlobalData

Following the news that the Indian Navy has sidelined the indigenously developed DRDO’s air independent propulsion (AIP) system from its US$6bn submarine tender for the time-being; Sourabh Banik, Aerospace & Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “This US$6bn Indian Ministry of Defence project is expected to procure six […]

Aerospace, Defense & Security

Germany’s space command just latest in number of countries seeking to strengthen space defense, says GlobalData

Germany’s space command announcement puts it in a growing list of nations that are establishing divisions solely dedicated to space matters. This move follows recent decisions by France and the UK, which are also seeking to strengthen their defensive capabilities. Leading data and analytics company GlobalData notes that this shift illustrates the increasing recognition of […]

Aerospace, Defense & Security

Croatia’s future priorities lie in strategic defense collaboration, says GlobalData

The economic impact of COVID-19 led to a reduction of HRK541.7m ($81.9m) between Croatian Defense expenditure plans in 2019* and 2020. However, GlobalData forecasts an increase in spending by 2026, with a focus on developing soldier equipment and small arms. The leading data and analytics company also notes that Croatia’s future priorities lie in strategic […]

Aerospace, Defense & Security

Asia-Pacific global military-fixed wing market to be worth US$42.2bn by 2031, says GlobalData

Growing at a CAGR of 1.77%, the fixed-wing market in Asia-Pacific is projected to value US$42.2bn by 2031 compared to US$35.5bn in 2021. China and India are emerging as significant contributors in the military fixed-wing market owing to the geopolitical tensions, the need to replace the aging aircraft fleets, and to incorporate new technologies. The […]

Aerospace, Defense & Security

Nigeria’s defense expenditure to reach US$3.8bn in 2026 driven by militant groups and rising piracy incidents, says GlobalData

As one of the continent’s military powerhouses, Nigeria is seeking to strengthen and upgrade the capabilities of its armed forces between 2022 and 2026. Nigeria’s defense budget is expected to grow at a compound annual growth rate (CAGR) of 10.33% throughout the forecast period to reach a peak of US$3.8bn in 2026. Growth will be […]

Aerospace, Defense & Security

Global submarine market to reach $31.9bn by 2031 driven by advances in technology, says GlobalData

The global submarine market is valued at $20.8bn in 2021 and will grow at a compound annual growth rate (CAGR) of 4.36% to reach $31.9bn by 2031. Growth will be driven by navies across the world enhancing their undersea warfare capabilities, as countries are increasing their capital expenditure towards naval platform acquisition to commission advanced […]

Aerospace, Defense & Security

ISR satellite systems to attract more than 50% share of global military satellite market by 2031, says GlobalData

The growing importance of information-based warfare and a huge demand for real-time situational awareness is expected to propel the intelligence, surveillance and reconnaissance (ISR) satellites segment to garner the largest share (51%) of global spending on military satellites over the next decade, according to GlobalData, a leading data and analytics company. As most contemporary spy […]

Aerospace, Defense & Security

Unmanned underwater vehicle demand soaring as experiments turn to manufacture, says GlobalData

Advanced navies are expanding their range of unmanned underwater vehicles (UUVs) due to their enhanced autonomous mine countermeasure (MCM) capabilities and the distributed fleet structure initiatives undertaken by the US, China, Russia, the UK and France, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Thematic Research: Unmanned Underwater Vehicles’, reveals that […]

Aerospace, Defense & Security

India hopes to revamp domestic defense industry with Ordnance Factory Board split, says GlobalData

Following the announcement that the Ordnance Factory Board (OFB) will be dissolved and replaced by seven new defense public sector undertakings; Mathew George, Ph.D, Aerospace, Defense and Security Analyst at GlobalData, a leading data and analytics company, offers his view: “The move was earlier resisted by the workers, who have been now pacified by announcements […]

Aerospace, Defense & Security

NATO defense spending likely to increase as space conflicts added to Article 5, says GlobalData

Following the news that NATO leaders have declared that attacks in, to and from space against any member will now trigger the mutual defense agreement and obligate allied members to respond; Madeline Wild, Associate Defense Analyst at GlobalData, a leading data and analytics company, comments: “While military expansion into space has been imagined since the […]

Aerospace, Defense & Security

AI likely to be integrated into naval vessels in the next five years, finds GlobalData

Artificial intelligence (AI) has the potential to make major improvements to modern ships, including decreasing the number of crew required for operations and enabling faster and better-informed decision making in a fast-moving environment. A survey by GlobalData, a leading data and analytics company, finds that 43% of respondents believe that AI will be integrated in […]

Aerospace, Defense & Security

Sustainability continues to gain traction as mentions grow multifold among ADS companies in 2020, finds GlobalData

Sustainability is emerging as a key theme for the aerospace, defense and security (ADS) sector, with three times year-on-year (YoY) growth in mentions in 2020 compared to 2019. In 2021*, discussions around sustainability in earnings transcripts are already up by 9% compared to 2020, according to the Filing Analytics platform by GlobalData. Rinaldo Pereira, Senior […]

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