Market Share of APAC Defense Industry
The Asia-Pacific defense market is fragmented, with many suppliers providing various types of equipment, such as training systems, C4ISR systems, smart weapons, unmanned systems, and missile defense systems. Some prominent players in the market are Lockheed Martin Corporation, Boeing Company, Aviation Industry Corporation of China, General Dynamics Corporation, and BAE Systems plc.
Most arms and ammunition are imported from the US and Russia, and some smaller countries import from China. However, the indigenous manufacturing of arms and ammunition in countries like China, India, and Japan is picking up pace, which is anticipated to support the growth of local manufacturing companies in the region.
The Aviation Industry Corporation of China, China Aerospace Science and Technology Corporation, and China Shipbuilding Industry Corporation are some of China's major state-owned defense companies that play a significant role in the Chinese defense market. Also, through the "Make in India" initiative, the Indian government aims to procure 70% of requirements from domestic firms, up from the current 40%. Such initiatives are anticipated to support domestic players.
APAC Defense Market Leaders
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Lockheed Martin Corporation
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The Boeing Company
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Aviation Industry Corporation of China
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General Dynamics Corporation
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BAE Systems plc
*Disclaimer: Major Players sorted in no particular order
