How big is the Japan Aerospace And Defense Market?

The Japan Aerospace And Defense Market size is expected to reach USD 72.60 billion in 2024 and grow at a CAGR of 5.28% to reach USD 93.90 billion by 2029. Read More

What is the current Japan Aerospace And Defense Market size?

In 2024, the Japan Aerospace And Defense Market size is expected to reach USD 72.60 billion. Read More

What years does this Japan Aerospace And Defense Market cover, and what was the market size in 2023?

In 2023, the Japan Aerospace And Defense Market size was estimated at USD 68.77 billion. The report covers the Japan Aerospace And Defense Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Aerospace And Defense Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Japan Aerospace & Defense Market - Size, Share & Industry Analysis

Japan Aerospace & Defense Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Japanese Aerospace and Defense Market Report is Segmented by Sector (Aerospace and Defense), Service Type (Manufacturing and MRO), and Platform (Airborne, Terrestrial, and Naval). The market size and forecast are provided in terms of value (USD) for all the above-mentioned segments.

Japan Aerospace & Defense Industry Overview

The Japan aerospace and defense market is semi-consolidated and several key players such as Mitsubishi Heavy Industries, Ltd., Toshiba Corporation, Kawasaki Heavy Industries, Ltd., ShinMaywa Industries, Ltd., and Japan Steel Works, Ltd. compete on product and services level to gain higher market share. Japan has adopted new principles and guidelines on arms exports and would permit arms exports to a country only if they serve the purpose of contributing to international cooperation and its security interests.

According to the 2022 defense white paper, nearly 1,100 companies are involved in the manufacture of fighter aircraft, about 8,300 in building destroyers, and around 1,300 in the production of tanks. Thus, growing support for local aerospace and defense manufacturers and rising investment in research and development boost the market growth during the forecast period.

For instance, the Japanese Ministry of Defense (MoD) secured USD 6.23 billion for ammunition-related spending, which is 330% higher than in 2022. It included USD 1.59 billion for the procurement of 500 US-made long-range Tomahawk cruise missiles. The Japanese MoD will deploy the Tomahawks in fiscal year 2026-27 as it aims to develop counterstrike capabilities. Tokyo will acquire the advanced model Tomahawk Block V to be equipped with Japan Maritime Self-Defense Force (JMSDF) Aegis-equipped destroyers.