Market Size of United States Aerospace And Defense Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 496.56 Billion |
| Market Size (2029) | USD 656.93 Billion |
| CAGR (2024 - 2029) | 5.76 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United States Aerospace And Defense Market Analysis
The United States Aerospace And Defense Market size is estimated at USD 496.56 billion in 2024, and is expected to reach USD 656.93 billion by 2029, growing at a CAGR of 5.76% during the forecast period (2024-2029).
The US aerospace and defense sector is one of the largest in terms of infrastructure and manufacturing activities. The market is expected to grow primarily due to the armed forces' procurement and upgrade activities to counter emerging threats. Several contracts from the military, air force, and naval force are currently underway, and many new contracts are anticipated to be dispersed during the forecast period, creating a parallel demand for defense equipment.
The US military uses multiple aircraft across the air force and naval aircraft. Owing to the increasing international conflict with China over its aggression in the South China Sea, the US is gearing up to tackle any potential issues China might create for countries with close ties with the US, like Taiwan and Japan. As a result, significant investments in upgrading the existing fleet and purchasing a new fleet equipped with efficient technologies have been witnessed over the past year.
The growing adoption of advanced technologies such as 3D printing, artificial intelligence, and big data analytics in developing aviation and defense equipment will create better opportunities in the coming years. However, issues related to the supply chain and evolving cybersecurity risks may hinder market growth.
