Defense Market size predicted to exceed USD 10.5 billion by 2023

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Defense Market size is predicted to grow with
6.1 CAGR to hit USD 10.5 billion by 2023 Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Defense Market

• Countries namely UAE, Saudi Arabia, India, South
  Korea, Japan, China and Russia exhibit potential
  growth prospects owing to threat from other
  countries. Defense companies are expected to
  witness huge growth opportunities owing to
  increasing investment in next generation ISR,
  unmanned combat land and sea vehicles, cognition
  data analytics as well as improved precision
  strike with the assistance of non kinetic
  weapons.
• U.S. MDA (Missile Defense Agency) and Raytheon
  are jointly working on development of MOKV
  (Multi-Object Kill Vehicle) concept. These are
  specialized equipments that are likely to steer
  itself to the target and destroy the objects in
  space. In addition, India has test fired its AAD
  (advanced air defense) interceptor missile
  developed by DRDO (Defense Research and
  Development Organisation).

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Application Analysis of Defense Market

• Countries such as China, Israel and Russia
  defense market see significant spending in
  improvising their resistance systems. As of 2015,
  U.S spends around 54 of its fiscal budget for
  military utilities and accounted for 37 of the
  overall industry share.
• It spends as much as USD 610 billion and ranks
  first in case of defense expenditure across the
  globe. Japan, China, United Kingdom, Russia,
  Germany, South Korea, France, Saudi Arabia and
  India collectively valued for USD 601 billion in
  2015.
• The global defense market is estimated to face
  two major challenges over the forecast period
  namely, profitability growth and cost cutting to
  maintain financial performance. In order to
  tackle these conditions several counties namely
  India is now focusing on defense foreign
  investments and technology platforms for
  increasing production operations in the country.
  As of 2015,

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Competitive Market Share of Defense Market

• Key industry participants in defense market share
  include Boeing, EADS/Airbus, United Technologies,
  Raytheon, Northrop Grumman and General Atomics
  Aeronautical Systems, ABG Shipyard Limited (ABG),
  Adcom Military Industries, Bharat Dynamics
  Limited, Brazilian Company Avionics Services,
  CADES Engineering Technologies Ltd, Cassidian
  Cyber Security, EBV Explosives Environmental
  Company,Direction des Constructions Navales
  Services (DCNS), BAE Systems Information and
  Electronic Systems Integration Inc. (US), EUREST
  Raytheon Support Services , European Advanced
  Technology S.A., Hispano-Suiza, HCL Aerospace
  Defense and Advance Tech Control Pvt Ltd. 

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