With a CAGR of almost 3%, the US is expected to spend a total of US$486 billion.
TheGlobal Military IT, Data and Computing Market 2014-2024 - Competitive Landscapeand Strategic Insights: Market Profile offers detailed analysis of the global military IT, data and computing market with market size forecasts covering the next ten years.
Report Highlights:
The global military IT, data and computing industry is highly competitive. The US and various European countries are among the leading spenders and have well-developed IT related industries, making these territories self-reliant. A need to transform the existing military into a fully network-centric force, digitalization of armed force and rapid pace of software obsolescence has driven the demand for military IT, data and computing systems.
Defense companies are mainly concentrated in western countries and typically focus on joint development programs to share development costs. These countries then sell the technology to developing countries in regions such as Asia-Pacific, Africa, the Middle East, and Latin America; this offers lucrative opportunities to the Western defense industry.
With an armed force digitalization plan and the establishment of a robust communication network in the primary agenda, the IT, data and computing market in Asia Pacific is expected to compete with the European region during the forecast period.
China is expected to emerge as the largest market in the region, with an expected expenditure of over US$32 billion during the same period.
