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The defense industry, meanwhile, remained stable, reporting increase in both the US and Europe, with total military spending reaching an all-time high of $2.1bn in 2021. The pandemic had no impact on the defense end markets, in contrast to commercial aviation.

The United States, China, India, the United Kingdom, and Russia were the top five regional military spenders in 2021, accounting for 62% of global military spending. Only China and the USA contributed 52%.

With $2113bn, global military spending reached $2tn for the first time in 2021. Global spending in 2021 increased by 12% over 2012 and by 0.7% over 2020.

❑ Executive Summary
❑ Industry Analysis:
▪ Overview
▪ Armed forces
▪ Military spending as share of government expenditure
▪ Trade
❑ Technological trends
❑ Notable developments
❑ Geographical analysis:
▪ Country wise
▪ Region wise
❑ The impact of the Russian-Ukraine crisis
❑ M&A activity
❑ Competitive Landscape:
▪ CrispIdea coverage
▪ Key players
❑ Company reports:
▪ Raytheon Technologies
▪ General Dynamics
▪ Northrop Grumman
▪ Airbus
▪ Honeywell
▪ L3Harris
▪ Lockheed Martin
▪ Boeing

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