Aerospace, Defense & Security

South Korea’s F-35 aircraft purchase to contribute to greater stability in Indo-Pacific region, says GlobalData

Following the news that the US approved a sale of up to 25 F-35 fighter jets to the South Korea; Kandlikar Venkatesh, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The approval for the additional units of F-35A fighter aircraft marks a significant milestone in the enduring partnership between the […]

South Korea and Airbus collaboration will be win-win situation for both entities, says GlobalData

Following the discussions between South Korea and Airbus to enhance cooperation for the development of advanced aerospace technologies; Tushar Mangure, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “Through the discussions with Airbus Defense and Space, the South Korean government wants to set up a facility for the joint development […]

Aerospace, Defense & Security

Vision 2030 to propel Saudi Arabia’s defense budget at 4.5% CAGR by 2028, says GlobalData

Saudi Arabia has one of the highest defense expenditures relative to its gross domestic product (GDP), driven by a combination of regional security challenges, economic diversification goals, and the desire to assert itself as a major player on the global stage. The country introduced Vision 2030 in 2016, with an aim to develop a self-sustaining […]

Aerospace, Defense & Security

Pakistan defense budget to reach $10 billion by 2028 growing at 2.5% CAGR, says GlobalData

Pakistan’s efforts to secure its borders and maintain stability within the country have been the primary factors shaping its defense investments over the years. Historically, challenges including Pakistan’s volatile relationship with its neighbours and regional separatist movements, have played a major role in influencing the country’s defense policy making. These factors are expected to continue […]

Aerospace, Defense & Security

China to spend $1.4 trillion over 2024-28 to equip PLA with advanced fleet, forecasts GlobalData

The growing US assistance to Taiwan, escalating territorial disputes with its neighbours in the South China Sea, and security alliances like QUAD and AUKUS formed by regional rivals have become a cause of concern for China. In line with the modernization plan of the People’s Liberation Army (PLA), the country’s defense expenditure is forecast to […]

Aerospace, Defense & Security

Japan’s defense expenditure grew by 26.5% in 2023, reveals GlobalData

In response to North Korea’s nuclear aspirations, China’s assertive actions in the East and South China Seas, and potential instabilities in the region, Japan is prompted to proactively invest in modernizing its air and naval capabilities. As a result, Japan’s defense expenditure increased from $39.5 billion in 2022 to $50 billion in 2023, reflecting an […]

Aerospace, Defense & Security

Hanwha deal to bolster Australia’s defense capabilities in Indo-Pacific amid China’s growing influence, says GlobalData

Following the news that Australia has selected Hanwha Defense’s AS21 Redback infantry fighting vehicles (IFVs); Kandlikar Venkatesh, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The procurement of AS21 Redback IFVs aimed at replacing the obsolete M113 fleet will be a major enhancement to Australia’s defense capabilities, indicating the country’s […]

Aerospace, Defense & Security

China’s growing military cooperation with Russia aimed at countering US in Indo-Pacific region, says GlobalData

Following the news that China is currently conducting a joint naval drill with Russia in the Sea of Japan: Udayini Aakunoor, Defense Analyst at GlobalData, a leading data and analytics company, offers her view: “The Northern/Interaction-2023 naval exercise undertaken by China and Russia appears to be a reciprocation to the recent naval missile defense exercise […]

Aerospace, Defense & Security

Australia’s defense acquisitions demonstrate prioritization of modernization and indigenous capabilities, says GlobalData

Australia’s defense equipment has undergone significant modernization recently, with a notable emphasis on indigenous capabilities. Recent acquisition programs such as the LAND 400 Phase 2 Mounted Combat Vehicle, Hunter-class (SEA 5000), F-35A, and Remotely Piloted Aircraft Systems (RPAS) reflect Australia’s intent to enhance its military capabilities across multiple domains. The acquisitions demonstrate the prioritization of […]

Aerospace, Defense & Security

South Korea’s naval drills with US and Japan to bolster deterrence against emerging regional threats, says GlobalData

Following the news that South Korea has held a joint naval missile defence drill with the US and Japan in the East Sea; Kandlikar Venkatesh, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The coordinated naval drills by the US, South Korea, and Japan highlight their shared commitment to tackling […]

Aerospace, Defense & Security

Unmanned maritime vehicle market to reach over $3.1 billion by 2033, forecasts GlobalData

Unmanned maritime vehicles (UMVs) are expected to play a significant role in future naval warfare. Developments in Ukraine have shown the world that unmanned maritime platforms can effectively operate hundreds of miles away from their home ports. Against this backdrop, the size of the UMV market is forecast to reach over $3.1 billion by 2033, […]

Aerospace, Defense & Security

Aging helicopter replacement to drive global military rotorcrafts market to reach $28.4 billion by 2033, says GlobalData

The new rotorcraft acquisition programs initiated by some of the leading global militaries to replace their aging fleet of legacy platforms are anticipated to be a major factor driving the military rotorcrafts market growth over the next decade. For instance, the US is procuring the V-280 Valor for the replacement of its Sikorsky UH-60 Black […]

Aerospace, Defense & Security

Australia defense budget to register CAGR of 5.2% through 2028, forecasts GlobalData

Amidst escalating tensions in the Indo-Pacific region, evolving geopolitical challenges, and growing strategic competition, Australia recognizes the necessity of addressing these factors by building a modern military force. As a result, Australia’s defense budget is projected to register a compound annual growth rate (CAGR) of 5.2%, growing from $39.5 billion in 2024 to $48.3 billion […]

Aerospace, Defense & Security

Global military land vehicles market to reach $31.3 billion in 2033, says GlobalData

Escalating cross-border conflicts and the heightened military assertiveness of certain nations are the primary factors driving the demand for military land vehicles worldwide. For instance, ongoing conflicts like the Russia-Ukraine war, and border disputes between India-Pakistan and India-China, have prompted countries to make significant investments in strengthening their military land vehicle capabilities to deter potential […]

Aerospace, Defense & Security

Israel’s defense acquisition budget surges by 17.1% CAGR during 2019-23, says GlobalData

Israel has demonstrated exceptional resilience in safeguarding its nation and promoting regional stability, in the wake of persistent challenges posed by Hamas, Hazbollah and ongoing Iranian hostilities. Indicating its proactive response against evolving security challenges, Israel’s defense acquisition budget experienced a significant compound annual growth rate (CAGR) of 17.1%, rising from $4.7 billion in 2019 […]

Aerospace, Defense & Security

GRSE’s multiple key achievements highlight India’s prowess in naval shipbuilding, says GlobalData

Following the news that India’s Garden Reach Shipbuilders & Engineers Ltd (GRSE) launched two indigenous warships and laid the keel for the third warship on 13 June 2023: Harshavardhan Dabbiru, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “Hitting multiple milestones on the same day with the launch of the […]

Aerospace, Defense & Security

Indian Navy’s ambitious next-generation submarine program gathers momentum with MDL-TKMS collaboration, says GlobalData

Following the news that India’s Mazagon Dock Shipbuilders Ltd. (MDL) and German company ThyssenKrupp Marine Systems (TKMS) signed a MoU to cooperate on submarine manufacturing; Tushar Mangure, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “TKMS and MDL are expected to jointly bid for the Indian Navy’s Project-75I program, which […]

Aerospace, Defense & Security

ALS-50 loitering munitions induction to enhance precision strike capability of Indian Air Force, says GlobalData

The ALS-50 loitering munition is an advanced weapon system with a unique vertical take-off and landing (VTOL) capability, versatility, and adaptability, which allow it to engage air defense systems, ground and naval targets. The ALS-50’s induction demonstrates the ability of India’s domestic defense industry to integrate sophisticated indigenous technologies into the country’s armed forces. The move […]

Aerospace, Defense & Security

Global military fixed-wing aircraft market to reach $110.6 billion in 2033, forecasts GlobalData

Recent developments in the fields of stealth, speed, connectivity, electronic warfare, and communication have led to an increased focus on developing new aircraft capable of operating in a network-centric battlefield. To meet this demand, emerging militaries like India, Turkey, and Indonesia are focusing on indigenization through a variety of means, such as technology transfer agreements, […]

Aerospace, Defense & Security

Sea trials of sixth Kalvari-class submarine to boost India’s self-reliance in building maritime capabilities, says GlobalData

Following the news that the sixth submarine of the Kalvari-class has commenced sea trials; Kandlikar Venkatesh, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The commencement of sea trials for the sixth Kalvari-class submarine marks a significant milestone, as it moves closer to its induction into the Indian Navy. With […]

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