Aerospace & defense is a technology-focused industry. Several trailblazing government and private companies across the globe are investing huge sums to design robust systems and equipment that are technologically enhanced, miniaturized, and lightweight to enhance the operationality of the modern-day aircraft models. Additionally, the noteworthy growth in passenger and cargo air traffic has propelled the demand for aircraft models across geographies. The passenger traffic growth trend is anticipated to catapult over 5% annually over the next decade. Similarly, the air cargo volume is also expected to soar substantially over the next decade.

Asymmetric warfare generates significant demand for robust technologies for dismounted soldiers, ground vehicles, airborne vehicles, and naval vehicles. Continuous investments toward defense or military technologies are also boosting the production and procurement of advanced weaponries and ammunitions. Countries such as the US, China, India, Japan, France, and the UK capitalize heavily on defense technologies, which bolster the defense industry size year-on-year. The future of defense technologies is foreseen to be prominent owing to the evolution and procurement of technologies such as precision munitions, cybersecurity, C5ISR, and unmanned vehicles. Companies operating in the defense industry emphasize heavily on marketplace, understand the demand among the defense forces worldwide, and offer value for money on products and systems.