Market Share of APAC Defense Industry
The Asia-Pacific defense market is highly fragmented, with the presence of many suppliers who provide various types of equipment, like training systems, C4ISR systems, smart weapons, unmanned systems, and missile defense systems. Some prominent players in the market are Lockheed Martin Corporation, Boeing Company, Aviation Industry Corporation of China, General Dynamics Corporation, and BAE Systems plc.
Most of the arms and ammunition are imported from the United States and Russia, and some smaller countries import from China. However, the indigenous manufacturing of arms and ammunition in countries like China, India, and Japan is picking up pace, which is anticipated to support the local manufacturing companies' growth in the region.
The Aviation Industry Corporation of China, China Aerospace Science and Technology Corporation, and China Shipbuilding Industry Corporation are some of China's major state-owned defense companies that play a major role in the China defense market. Also, through the "Make in India" initiative, the Indian government aims to procure 70% of requirements from domestic firms, up from the current 40%. Such initiatives are anticipated to support domestic players.
APAC Defense Market Leaders
Lockheed Martin Corporation
The Boeing Company
Aviation Industry Corporation of China
General Dynamics Corporation
BAE Systems plc
*Disclaimer: Major Players sorted in no particular order
