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The worldwide defense market is segmented on the basis of type of equipment and regions . D efense equipment encompass naval systems , sensors & radars , ground vehicles , unmanned systems , and missile systems . Demand for ground vehicles is by far the highest . Growing significance of radars & missiles attributes to innovations that have led to the development of modern and highly sophisticated radar systems . These systems are an amalgam of digital signal processors , complex A-D convertors , solid state modules , and advanced materials .
Modern radar systems are often equipped with excellent imaging capabilities . As against earlier radar systems that needed separate systems for performing the same tasks , these sophisticated radars are quite versatile . They perform varied functions , like weather monitoring , target tracking , wide area searches , and fire control . Since they call for minimal human intervention , unmanned vehicles may gain much importance in the near future . The incorporation of intelligent systems in unmanned vehicles may further increase the latter ’ s significance in defense .
On the basis of regions , the worldwide defense market is segmented into North America , the Middle East & Africa , Europe , and Asia Pacific . Europe and North America have taken to ‘ demilitarization ’ in a strong manner , which is why military expenditure from these regions may plunge rapidly in the near future . Most global manufacturers are gradually shifting their focus towards the Asia Pacific market because this region is witnessing a surge in military budgets by various governments . This regional market is fuelled by robus t investments in defense equipment by China , India , and Japan . Low income economies of Africa and the Middle East invest in defense equipment mainly to protect their economic development .
Prominent companies in the global defense market are Lockheed Martin , Northrop Grumman , United Technologies ( UTX ), BAE Systems , and General Dynamics . Northrop Grumman is a leading manufacturer of space equipment , missile electronics , aircraft , and ships . BAE Systems , a non U . S . based company is the largest manufacturer of space equipment , electronics , missiles , and aircraft . And Lockheed Martin manufactures the F-35 weapon system .
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