The global defense & aerospace industry consists of companies that build prototypes and develop or assemble the complete aircraft or its radars, parts, weapons, and so on. The rise in commercial aircraft manufacturing along with substantial investments in the defense equipment is expected to boost the growth of the defense & aerospace industry. The military expenses stayed on the growth path amid the increasing geopolitical tensions resulting in the requirement for military equipment. Also, there is a requirement for system upgrades of the existing convoy in developed nations. Furthermore, problems like globalization, technological disruptions, and increasing pricing pressures are inciting the industry players to acclimatize to the altering scenario rapidly.
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