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Global Defense Market Projected to Reach $2.69 Trillion by 2035

Market Research Future· June 13, 2026

The global defense market is estimated to grow from $2.14 trillion in 2025 to approximately $2.70 trillion by 2035. This growth represents a compound annual growth rate (CAGR) of 2.32% over the ten-year forecast period. The market is currently shaped by a complex interplay of geopolitical tensions and evolving defense strategies focused on modernization.

The market was valued at $2094.36 billion in 2024 and is expected to reach $2695.95 billion by the end of the forecast period in 2035. Key industry participants include U.S. giants Lockheed Martin, Raytheon Technologies, and Northrop Grumman, alongside European leaders such as BAE Systems, Thales Group, and Airbus.

These companies are operating in an environment characterized by evolving defense strategies and a push for military modernization. The steady CAGR of 2.32% reflects the long-term nature of defense procurement and the sustained demand for advanced technological capabilities across the globe.

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Summary generated by RabbitReport AI from public reporting. The full article and original reporting belong to Market Research Future.

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