The Business Research Company’s Defense Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, November 15, 2021 /EINPresswire.com/ — Adoption of unmanned combat vehicle is one of the major trends in this market. Unmanned combat vehicle is a machine or motorized vehicle that runs without any physical human intervention. These vehicles have a set of sensors for 360-degree situational awareness and for optical avoidance, steering actuators, brake, and laser scanner along with other autonomous features enabling remote or autonomous functioning of the vehicle. It is majorly used to inspect the surroundings and transfer the information to operator through teleoperation or make autonomous decisions to deal with situations involving several technical challenges. For instance, in January 2020, the U.S. Army awarded contracts for the development of Robotic Combat Vehicle- Medium (RCV-M). It is an unmanned robotic teleop combat vehicle with an on-board 20-to 50- millimeter automatic cannon. It can fight alongside infantry and destroy enemy armored personnel carriers, trucks, and troops.
TBRC’s global defense market report is segmented by type into air-based defense equipment, sea-based defense equipment, land-based defense equipment, defense equipment maintenance, repair and overhauling services, defense support and auxiliary equipment, by operation into autonomous defense equipment, manual.
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The global defense market size is expected to grow from $438.34 billion in 2020 to $446.59 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth of the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $542.33 billion in 2025 at a CAGR of 5%.
Asia Pacific was the largest region in the global defense market, accounting for 34% of the market in 2020. North America was the second largest region accounting for 25% of the global defense market. Africa was the smallest region in the global defense market.
Major players covered in the global defense market are by type into air-based defense equipment, sea-based defense equipment, land-based defense equipment, defense equipment maintenance, repair and overhauling services, defense support and auxiliary equipment, by operation into autonomous defense equipment, manual.
Defense Global Market Report 2021 – By Type (Air Based Defense Equipment, Sea Based Defense Equipment, Land Based Defense Equipment, Defense Equipment Maintenance, Repair And Overhauling Services, Defense Support And Auxiliary Equipment), By Operation (Autonomous Defense Equipment, Manual), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides defense market overview, forecast defense market size and growth for the whole market, defense market segments, and geographies, defense market trends, defense market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Unmanned Defense Aerial Vehicle Global Market Report 2021 – By UAV Type (Multi Rotor, Single Rotor, Fixed Wing, Fixed Wing Hybrid VTOL), By Range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), Beyond Line of Sight (BLOS)), By Technology (Remotely Operated, Semi-Autonomous, Fully-Autonomous), COVID-19 Growth And Change
Defense Equipment Maintenance, Repair And Overhauling Services Global Market Report 2021 – By Type (Air based Defense Equipment MRO Services, Water based Defense Equipment MRO Services, Land based Defense Equipment MRO Services), By Service Type (Annual Maintenance Contract, Individual Works), COVID-19 Impact And Recovery
Defense Support And Auxiliary Equipment Global Market Report 2021 – By Type (Military Radars, Military Satellites, Other Defense Support and Auxiliary Equipment) COVID-19 Impact And Recovery
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