The U.S. defense industry exercises solid domination over the rest of the world, thanks to lucrative fiscal investments and continuous upgradation of its defense technologies. Moreover, global defense spending hit a record high of $2.10 trillion in 2021, up 7% year-over-year.
Furthermore, aerospace and defense industry investments have multiplied manifold globally due to the Russia-Ukraine conflict. Also, escalating tension between China and Taiwan could spur U.S. military spending.
