Industry Statistics and Trends
Market size and recent performance (2015-2030)
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $280.9bn in 2025.
Trends and Insights
The war in Ukraine has caused massive military spending shifts
- The War in Ukraine has led to massive spending shifts, both from immediate combatants and nearby countries. Specifically, Ukraine’s defense spending has risen from 0.2% of global spending up to 2.4% in 2024, while Russia’s defense spending has peaked at 5.6% of global spending. Russia’s spending has eclipsed 7.0% of its GDP, while Ukraine reportedly spent 35.0% of its GDP on defense, according to the World Bank.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to grow over the next five years.
Trends and Insights
NATO spending changes will create significant demand for aircraft and missiles
- In 2021, only six countries met NATO’s defense spending requirement. In 2024, pressure from the United States, Russian aggression and other geopolitical factors pushed 23 out of 32 NATO members to spend at least 2.0% of GDP on defense. Canada, Spain and several smaller Western European nations have consistently failed to meet these standards.
Biggest companies in the Global Military Aircraft & Aerospace Manufacturing
| Company | Market Share (%)
2025 | Revenue ($m)
2025 | Profit ($m)
2025 | Profit Margin (%)
2025 |
|---|---|---|---|---|
Lockheed Martin Corporation | 65,020.6 | 5,513.1 | 8.5 | |
Raytheon Technologies Corporation | 41,198.5 | 5,417.2 | 13.1 | |
Aviation Industry Corporation of China, Ltd. | 41,084.6 | 2,109.3 | 5.1 |
To view the market share and analysis for all 8 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Military aircrafts, Complete guided missiles and Engines and propulsion systems. Military aircrafts is the largest segment of the Global Military Aircraft & Aerospace Manufacturing.
Trends and Insights
Military aircraft advancement dominates defense spending for most countries
- Military aircraft encompass a broad range of specialized aircraft designed and purposed for the defense of nations. This segment includes fighter jets, bombers, reconnaissance planes, transport aircraft and helicopters, each fulfilling distinct roles within military operations. These aircraft are equipped with advanced technology, weapon systems and communication tools tailored for combat, surveillance and logistics.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Companies in the Global Military Aircraft and Aerospace Manufacturing industry manufacture complete military aircraft, missiles or space vehicles, along with associated parts and services. Industry operators also develop prototypes of aerospace products, convert aircraft (i.e. conduct major modifications to systems) and complete aircraft or propulsion system overhaul and rebuilding (i.e. periodically restoring aircraft to original design specifications).
What's included in this industry?
Products and services covered in the Global Military Aircraft & Aerospace Manufacturing industry include Manufacturing military aircraft, missiles and space vehicles, Manufacturing military aerospace engines, propulsion units, auxiliary equipment or parts, Developing and making military prototypes, Military aircraft conversion, Military complete aircraft or propulsion system overhaul and rebuilding, Manufacturing military space launch vehicles and Maintenance and post-sale servicing of manufactured products .Companies
Companies covered in the Global Military Aircraft & Aerospace Manufacturing industry include Lockheed Martin Corporation, Raytheon Technologies Corporation and Aviation Industry Corporation of China, Ltd.Purchase this report to view all 8 major companies in this industry.
Related Terms
Related terms covered in the Global Military Aircraft & Aerospace Manufacturing industry include european aviation safety agency (easa), unmanned aerial vehicle (uav) and fifth-generation jet fighter.Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The Artemis program will drive massive investment into space vehicles and propulsion. This program will create significant multinational collaboration, encouraging joint vent...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2015-2024) and forecast (2025-2030)
- Employees, including historical (2015-2024) and forecast (2025-2030)
- Businesses, including historical (2015-2024) and forecast (2025-2030)
- Profit, including historical (2015-2025)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Military aircraft form an essential part of national defense strategies. Demand for these aircraft is continually driven by the need for air superiority and technological adv...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2025
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2025
- Major market segmentation in 2025
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The US continually invests in advanced military aviation technology to maintain global leadership and preparedness. Emphasis on innovation, significant budgets and partnershi...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2025
Tables
- Number and share of establishments in each region in 2025
- Number and share of revenue each region accounts for in 2025
- Number and share of wages each region accounts for in 2025
- Number and share of employees in each region in 2025
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2025
- Share of population compared to output in each region in 2025
- Data tables
- Share of global output by region in 2025
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Companies face massive competition, driven largely by innovation in the US and China. Massive technological innovation often sets industry leaders, like Raytheon and Lockheed...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2020-2025
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
US companies dominate international defense markets. Companies like Raytheon, Lockheed Martin, Northrop Grumman and Boeing are market leaders, offering complex, innovative ae...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2021 through 2025
- Major companies in the industry, including market share, revenue, profit and profit margin in 2025
- Overview of Lockheed Martin Corporation's performance by revenue, market share and profit margin from 2019 through 2025
- Overview of Raytheon Technologies Corporation's performance by revenue, market share and profit margin from 2019 through 2025
- Overview of Aviation Industry Corporation of China, Ltd.'s performance by revenue, market share and profit margin from 2019 through 2025
- Overview of revenue, market share and profit margin trend for 5 additional companies
Detailed analysis
- Description and key data for Lockheed Martin Corporation, and factors influencing its performance in the industry
- Description and key data for Raytheon Technologies Corporation, and factors influencing its performance in the industry
- Description and key data for Aviation Industry Corporation of China, Ltd., and factors influencing its performance in the industry
- Description, key data and performance trends for 5 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
National defense sectors are highly regulated or state-run. Companies operate within extensive regulatory guidelines, covering everything from national security and export co...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2015-2030)
- Assistance historical data and forecast (2015-2030)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Research and development are major costs for manufacturers. Companies that successfully innovate will gain a clear competitive advantage and secure more contracts, leading to...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2015-2030)
- Revenue per Employee (2015-2030)
- Revenue per Enterprise (2015-2030)
- Employees per Establishment (2015-2030)
- Employees per Enterprise (2015-2030)
- Average Wage (2015-2030)
- Wages/Revenue (2015-2030)
- Establishments per Enterprise (2015-2030)
- IVA/Revenue (2015-2030)
- Imports/Demand (2015-2030)
- Exports/Revenue (2015-2030)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2015-2030)
- IVA (2015-2030)
- Establishments (2015-2030)
- Enterprises (2015-2030)
- Employment (2015-2030)
- Exports (2015-2030)
- Imports (2015-2030)
- Wages (2015-2030)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Military Aircraft & Aerospace Manufacturing industry in 2025?
The market size of the Global Military Aircraft & Aerospace Manufacturing industry is $280.9bn in 2025.
How many businesses are there in the Global Military Aircraft & Aerospace Manufacturing industry in 2025?
There are 1,286 businesses in the Global Military Aircraft & Aerospace Manufacturing industry, which has declined at a CAGR of 4.5 % between 2020 and 2025.
How may import tariffs affect the Global Military Aircraft & Aerospace Manufacturing industry?
The Global Military Aircraft & Aerospace Manufacturing industry is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Global Military Aircraft & Aerospace Manufacturing industry?
The Global Military Aircraft & Aerospace Manufacturing industry is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Global Military Aircraft & Aerospace Manufacturing industry grown or declined over the past 5 years?
The market size of the Global Military Aircraft & Aerospace Manufacturing industry has been declining at a CAGR of 0.5 % between 2020 and 2025.
What is the forecast growth of the Global Military Aircraft & Aerospace Manufacturing industry over the next 5 years?
Over the next five years, the Global Military Aircraft & Aerospace Manufacturing industry is expected to grow.
What are the biggest companies in the Global Military Aircraft & Aerospace Manufacturing industry?
The biggest companies operating in the Global Military Aircraft & Aerospace Manufacturing industry are Lockheed Martin Corporation, Raytheon Technologies Corporation and Aviation Industry Corporation of China, Ltd.
What does the Global Military Aircraft & Aerospace Manufacturing industry include?
Manufacturing military aircraft, missiles and space vehicles and Manufacturing military aerospace engines, propulsion units, auxiliary equipment or parts are part of the Global Military Aircraft & Aerospace Manufacturing industry.
Which companies have the highest market share in the Global Military Aircraft & Aerospace Manufacturing industry?
The company holding the most market share in the Global Military Aircraft & Aerospace Manufacturing industry is Lockheed Martin Corporation.
How competitive is the Global Military Aircraft & Aerospace Manufacturing industry?
The level of competition is high and steady in the Global Military Aircraft & Aerospace Manufacturing industry.
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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