August 03, 2022
Dublin, Ireland. A new report predicts that the global air-based defense equipment market will grow from $178.46 billion in 2021 to $246.42 billion in 2026, with artificial intelligence and big data analytics being key engines of growth.
The report, from Research and Markets, states that Asia-Pacific was the largest region in the air defense equipment market in 2021, although Western Europe is expected to be the fastest growing region by 2026. .
“Rapid advancements in wireless technology and miniaturization (which refers to the design of smaller components for equipment) are expected to drive innovation in the air defense market, thereby driving the market over the period forecast,” the report said. “In addition, technologies such as 3D printing, artificial intelligence and big data analytics are used during the manufacturing process, resulting in higher productivity, lower operating costs and higher margins.”
The report adds that 3D printing could have a particularly big impact on the market in the future.
“3D printing is used in airborne equipment manufacturing to quickly and inexpensively create military aircraft parts with complex geometries,” the report states. “The technology creates three-dimensional models of aircraft parts using metals, plastics, polymers, ceramics and other derivatives. For example, in 2019 the US Air Force installed 17 3D printing parts on its C-5 Super Galaxy transport aircraft, parts installed included aircraft crew berth areas, overhead panels, reading and emergency light covers, window panels reveal panels gasper and aluminum joint retention handles.