Global defense market size is expected to reach $772.49 Bn by 2028 at a rate of 5.8%, segmented as by type, air-based defense equipment, sea-based defense equipment, land-based defense equipment, defense equipment maintenance.
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And this was before Puto caused the world to adjust their spending UP.
My opinion only DYOR
FF
AKIDA BALLISTA
I extracted the following from the above and emboldened the parts that AKIDA technology can find opportunity. As you read it becomes obvious that AKIDA technology has a place in every aspect of future defence capabilities. It also becomes obvious that the main players in this space are part of the spider web of dots that the 1,000 Eyes have accumulated over the last five odd years.
My opinion only DYOR
FF
AKIDA BALLISTA
PS: If you were a civilian would you not want the shoot around corners weapon to have AKIDA on board making sure you should be the target? If your answer is yes think about how many such weapons will be deployed and the addressable market both in the military and police forces of the world.
The Extract:
"The defense market consists of sales of air-based, sea-based and land-based military equipment by entities (organizations, sole traders and partnerships) that produce air-based, sea-based and land-based military equipment including support and auxiliary equipment such as
radar, satellites, sonars, and other auxiliary equipment or maintain, repair and overhaul defense equipment.
The main defense types are air-based defense equipment, sea-based defense equipment, land-based defense equipment, defense equipment maintenance, repair and overhaul services, defense support, and auxiliary equipment. Air-based defense equipment includes support and auxiliary equipment for the air-based defense such as
radar, satellites, sonars, and other auxiliary equipment. The various operation includes autonomous defense equipment, manual and involves various platforms such as airborne, land, naval.
The global defense market size is expected to grow from
$452.69 billion in 2021 to $483.47 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The growth in 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 defense market is expected to reach $604.82 billion in 2026 at a CAGR of 5.8%.
The adoption of unmanned combat vehicles is one of the major trends in this market. An 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 the 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 onboard 20-to 50- millimeter automatic cannon. It can fight alongside infantry and destroy enemy armored personnel carriers, trucks, and troops.
Corner shot weapons are increasingly becoming popular due to the safety features they offer. A corner shot is a specialized weapon accessory, essentially a hinged chassis installed to a pistol such as a Glock, a handgun, or to a Beretta 92. The hinge chassis allows the gun’s frame to bend around the corner and attack the target without exposing the soldiers.
It is also equipped with a bore-sighted, high-resolution video camera, LCD monitor, and a built-in tactical light for navigation and illumination. The corner shot rifles or guns are widely used in battle-fields, inside armored vehicles and tanks, on a turret up top, which will allow for a full 360-degree field cover while the triggerman remained safely inside the vehicle. The weapon is accurate and effective to 100 to 200 meters depending on the type of weapon.
Companies in the air-based defense equipment manufacturing market are increasingly investing in the development of autonomous fighter jets. Autonomous fighter jets are jets that do not require human pilots to fly and can fly for longer periods of time. Autonomous jets are equipped with sensors to scan for potential threats and process more information at a given time.
These jets are well equipped to collect intelligent data about the enemy, block the electronic systems of enemy aircraft, and shoot down other threats in the air.
Following the trend, Boeing Australia and Royal Australian Air Force (RAAF), in 2019, entered into a partnership to develop 3 prototypes of autonomous fighter jets named Airpower Teaming System or Loyal Wingman. These aircraft will fly alongside the piloted aircraft during battle to distract the enemies, assist in information gathering and surveillance.
Major companies in the defense market include Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, Airbus Group SE, Leonardo SpA, Thales group, and General Dynamics.