Germany Aerospace and Defense Market: Key Facts, Market Size, Dynamics, Segments and Forecast Predictions Presented and Forecast: 2022-2031

The Germany aerospace and defense Market is expected to exhibit a growth rate of more than 9% during the forecast period 2022-2031.

– Germany is one of the leading economies in the European region with a significant share in global military and aerospace expenditure. Germany is home to major defense manufacturers such as Rheinmetall AG, Diehl Stiftung & Co. KG, Krauss-Maffei Wegmann GmbH & Co. KG, etc. which are significantly increasing the development of defense technologies and production rate through national and international investments, collaborations and partnerships, etc.
– Germany is ramping up its investments in various space programs and working closely with the European Space Agency (ESA). In 2019, Germany announced an investment of nearly USD 3.7 billion ESA’s space programs during the period of 2020 – 2022.
– According to IATA, the aviation industry in Germany is expected to grow steadily due to growth passenger traffic in the country. To further support the growing passenger traffic and aircraft movements in the country, the government is increasing its investments towards the development of airport infrastructure.

Get a PDF Sample for more detailed market insights:

Key Market Trends

Increase In Defense Spending Is Expected To Propel The Industry Growth

The defense spending of the country in 2019 was USD 49.3 billion which is 1.3% of national GDP. The country is lagging behind the NATO benchmark of spending a minimum of 2% of national GDP on defense. However, the country is making plans to increase its military expenditure to 1.5% of GDP by 2024 and further increase to 2% by 2031. Further, with the presence of the major military manufacturers in the country. In 2019, the total arms export was stood at USD 8.8 billion which is 65% more than 2018 exports. In addition to, the investments into the procurement of land, air and sea platforms of armed forces, the country also announced its plans to strengthen its cyber defense technology, under which the government intends to invest in electronic warfare, defense communication and information sharing technology, cryptology and network operations, machine learning and artificial intelligence technologies. Such investments to strengthen the land, air and sea capabilities is expected to propel the growth defense industry in Germany.

Ask for it and browse full report:

Aerospace Industry Is Witnessing Increased Investments

Germany is increasing its total investments in national and European space development programs that include technology development for Ariane 6 launcher, ExoMars and Mars Express programs. The German investments for space programs in 2020 will include USD 180 million for technology development, USD 370 million for telecommunication, USD 94 million for space security and situational awareness, USD 550 million for space transport operations, more than USD 800 million for earth observation, etc. Also, to improve air transport in the country, the largest airline in the country, Lufthansa is expanding its fleet of aircraft. With constant plans for expansion, the airline is consistently engaged in the modernization of its long-haul fleet. In March 2019, the Lufthansa Group announced the order of 20 Boeing 787-9 and 20 additional Airbus A350-900 planes, which are expected to replace the existing four-engine aircraft fleet. The new aircraft deliveries are scheduled between late 2022 and 2027. In addition to this, Germany is a world leader in lightweight engineering technology and growing demand for materials such as composites, carbon fiber, etc. from the aviation and satellite manufacturing industry is expected to drive the market growth.

Competitive Landscape

The Germany Aerospace and Defense Market is highly fragmented and there are several companies that support the aerospace and defense industry in the country. Some of the prominent players in the market are Rheinmetall AG, Krauss-Maffei Wegmann GmbH & Co. KG, Thyssenkrupp AG, MBDA Deutschland GmbH, and Leonardo S.p.A. The large scale domestic and foreign investments, collaborations and partnerships, policy changes, etc are further expected to support the domestic manufacturing, engineering and MRO operations in the country. The international players are also partnering with the government to cater to the defense requirements of the armed forces. For instance, in September 2019, BAE Systems was selected to provide three 57mm naval guns onboard three new 86m Offshore Patrol Vessels (OPVs) currently under construction for the German federal police force. The large product portfolio and high investments into research and development support the growth of international players in the market.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– 3 months of analyst support

Related Posts:

Bromelain Market
Prosthetic Disc Nucleus Market
Electron Beam Linear Accelerators Market
Cell Culture Media, Sera, and Reagents Market
Telemedicine Market

Leave a Reply

Your email address will not be published.