Military Aerospace & Defense Lifecycle Management Market To Reach $18.20 Billion By 2030

Military Aerospace & Defense Lifecycle Management Market Growth & Trends

The global military aerospace & defense lifecycle management market size is expected to reach USD 18.20 billion by 2030, registering a CAGR of 8.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for Product Lifecycle Management (PLM) software solutions from the defense equipment manufacturers and suppliers is expected to drive the market growth. PLM software solutions help the defense equipment manufacturers and suppliers in every facet of the process, right from the initial concept to development and testing processes, and efficient manufacturing.

Manufacturers of military aerospace and defense (A&D) equipment often have to deal with several complex components. PLM software solutions can potentially enable all these manufacturers with the capabilities that can be implemented with complex systems and facilities and help them in reducing energy consumption. The product lifecycle management software solutions can also aid in carrying out the maintenance processes efficiently and driving down the associated costs.

The military aerospace and defense OEMs are gradually realizing the importance of lifecycle management solutions in managing the existing and new programs in the most efficient manner. They are also implementing lifecycle management solutions to create additional business value for the organization by improving the operations throughout the product/ service lifecycle. They are particularly striking long-term agreements with lifecycle management solution providers to implement the solutions and enhance their capabilities.

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Military Aerospace & Defense Lifecycle Management Market Report Highlights

• Product Lifecycle Management (PLM) dominated the market and accounted for a market revenue share of 85.7% in 2023. As defense organizations adopt more digital tools and technologies, integrating PLM systems becomes essential to harness the full potential of these advancements.

• Service Lifecycle Management (SLM) is expected to register the fastest CAGR of 9.9% during the forecast period. Modern defense systems are increasingly equipped with sensors and connectivity features that generate vast amounts of operational data.

• North America military aerospace & defense lifecycle management market accounted for the largest market revenue share of 36.7% in 2023.

• Asia Pacific military aerospace & defense lifecycle management market is anticipated to register the fastest CAGR over the forecast period.

Military Aerospace & Defense Lifecycle Management Market Segmentation

Grand View Research has segmented global military aerospace & defense market report based on type and region:

Military Aerospace & Defense Lifecycle Management Type Outlook (Revenue, USD Million, 2018 - 2030)

• Product Lifecycle Management (PLM)

• Service Lifecycle Management (SLM)

Military Aerospace & Defense Lifecycle Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Russia

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • UAE

  • South Arabia

  • South Africa

List of Key Players of Military Aerospace & Defense Lifecycle Management Market

• Aras Corporation

• ATS Global B.V.

• Dassault Systèmes SE

• Honeywell International Inc.

• Infor

• PROLIM

• PTC Inc.

• Cyient Limited

• Siemens AG

• Nikon SLM Solutions AG