Global Fastest Growing Industries by Revenue Growth (%) in 2024

1. Global Reinsurance Carriers

2024-2025 Revenue Growth: 16.6%

Global reinsurance carriers focus on assuming all or part of the risk associated with existing insurance policies originally underwritten by direct insurance carriers. The essential function of these carriers is to insure insurance companies. The industry performed well during the current period because rising healthcare expenditure increased premiums for health insurance companies. These insurers increased their demand for global reinsurance carriers to hedge against risk. The industry also performed well in the years before COVID-19, as soaring equity markets increased demand from insurance companies and boosted investment income for the industry. The pandemic reduced global consumer spending and per capita... Learn More

2. Global Military Shipbuilding & Submarines

2024-2025 Revenue Growth: 12.2%

The Global Military Shipbuilding and Submarines industry has continued to expand amid rising geopolitical tensions. The US, other Western governments and Asian countries continue to be the largest markets for military shipbuilders. Despite the pandemic's effects, revenue has remained steady, as contracts were already placed beforehand.

The United States, the largest market for the industry, has increased spending on shipbuilding and conversion as it has sought to maintain its ability to project power abroad, protect trade lanes and defend allies. Meanwhile, some of the biggest surges in naval expenditures have come from developing nations (China, Russia, India and East Asian countries).... Learn More

3. Global Tourism

2024-2025 Revenue Growth: 11.6%

The industry will increase at a CAGR of 0.8% to $2.3 trillion over the five years to 2023, including a growth of 13.9% in 2023 alone. Global tourism has performed well during most of the five-year period, with emerging economies stimulating growth. Countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. But because of COVID-19, industry revenue collapsed 40.1% in 2020. The global outbreak had an enormous effect on all tourism-related industries as many countries suspended international travel and limited the... Learn More

4. Global Cardboard Box & Container Manufacturing

2024-2025 Revenue Growth: 8.2%

Over the five years to 2023, the industry has benefited from growth in global consumer spending and world GDP. Growing consumer spending led to expanding downstream markets, including manufacturing, retail and wholesale businesses. In addition, rising demand from emerging markets, such as China and India, has boosted demand for cardboard containers. But strong fluctuations in the world price of wood pulp have hampered revenue growth in specific years. However, supply chain disruptions during and following the COVID-19 pandemic caused prices to increase and revenue to surge. Altogether, industry revenue is expected to grow at a CAGR of 7.2% to $458.3... Learn More

5. Global Airport Operation

2024-2025 Revenue Growth: 8.1%

Airport operators have faced complex operating conditions in recent years. Rising levels of airline passenger traffic before the COVID-19 pandemic enabled airports to earn significant revenue through passenger charges and services provided directly to airlines. At the same time, improving economic conditions increased corporate profit and fueled global manufacturing activity, causing airlines to operate more flights to transport greater quantities of cargo. The COVID-19 pandemic completely disrupted the industry in 2020, causing revenue losses of more than 40.0% in that year alone. Global airport operation revenue has increased at a CAGR of 1.5% to $254.7 billion through the end of... Learn More

6. Global Military Aircraft & Aerospace Manufacturing

2024-2025 Revenue Growth: 7.4%

The Global Military Aircraft and Aerospace Manufacturing industry has continued to expand amid rising geopolitical tensions. The United States, other Western governments and Asian countries remain the largest markets for defense contractors. Countries continue to bolster their defenses by purchasing more military aircraft, missiles, satellites, radars and avionics. Overall, revenue is expected to grow at a CAGR of 0.4% to $316.6 billion over the five years to 2023, including a 1.5% in 2023 alone as profit creeps downward to 7.3%, barring supply chain disruptions. Non-Western countries have increased spending on defense.

Emerging economies have allowed more nations to spend on military... Learn More

7. Global Casinos & Online Gambling

2024-2025 Revenue Growth: 6.9%

Global casinos and online gambling businesses are still reeling from the aftereffects of the pandemic, with some rebounding swifter than others, depending on their country of operation and specialization. Sinking tourism rates, especially in 2020, left many casinos in dire straits, even if they were able to remain open in some capacity. Many have since reopened, welcoming eager tourists, but some, like those in Macau, continue experiencing operational delays related to the pandemic in 2023. As a result, though revenue began rebounding as early as 2021, revenue has been declining at a CAGR of 1.8% over the past five years,... Learn More

8. Global Commercial Aircraft Manufacturing

2024-2025 Revenue Growth: 6.8%

The Global Commercial Aircraft Manufacturing industry is responsible for manufacturing, rebuilding, and servicing aircraft for the commercial market. Included in commercial aircraft are planes, helicopters, aircraft engines and various aircraft components and subsystems for the commercial market. COVID-19 was the biggest roadblock for operators during the period, leading to a drop in sales, tough supply chain conditions, and a lack of demand. Still, a partial recovery was achieved during the years following due to economic upturn and global efforts to control the virus. As a result, the Global Commercial Aircraft Manufacturing industry's revenue is set to fall an annualized CAGR... Learn More

9. Global Fruit & Vegetable Processing

2024-2025 Revenue Growth: 6.7%

Global fruit and vegetable processors have steadily grown as a result of favorable consumer trends across the world. The growth in global disposable income has driven demand toward healthier and more convenient processed foods in developed countries such as the United States and the United Kingdom, where consumer trends have been slightly shifting. But unlike the case for developed countries, this income growth has fomented demand for processed foods in developing countries such as China. The industrialization of the industry in these countries has also improved distribution and production capacity to the benefit of the global industry. Overall, the industry... Learn More

10. Global Marine & Container Terminal Operation

2024-2025 Revenue Growth: 6.0%

Ongoing trade liberalization, global economic expansion and growing Asian economies have been the main factors propelling global marine and container terminal operators. However, slower global growth tempered industry expansion, while uncertainty due to geopolitical tensions further setback industry performance. The COVID-19 pandemic's disruptions to international trade led to major volatility as shipping volumes surged following a contraction in 2020. As a result, revenue has increased at CAGR of 3.2% to $67.0 billion through the end of 2023, including a 3.0% increase in 2023 alone as trade flows remain elevated.

Steadily rising levels of global consumer spending and production activity contributed to... Learn More