The global aerospace and defense sector suffered considerably amid the worst of the COVID-19 pandemic as numerous deals were shelved and significant logistical hurdles presented themselves. However, Russia’s invasion of Ukraine has led to record gains in this segment, with nations placing renewed emphasis on defense budgets. For example, Germany recently committed an additional 100 billion euros ($112.70 billion) to fund its armed services.
Furthermore, with the development of complex international diplomatic ties, the demand for military equipment modernization is expected to rise, benefiting the aerospace and defense industry. According to Report Linker, the global aerospace & defense market is slated to expand at an C8.5% CAGR of 8.5% until 2026.
