United States Defense Market Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

United States Defense Market Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

Summary

United States Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

The US defense budget grew by 10.7% in 2023 to $818.8 billion, up from $739.5 billion in 2022. The current budget follows a low in 2021 after financial strain caused by the COVID-19 pandemic heavily restricted budget size, but has since recovered in response to the deteriorating global security environment: The Russian invasion of Ukraine and continued tensions with China over territory in the South China Sea and wider Indo-Pacific. These conflicts have refocused attention for the US government on supporting the rules-based international order it upholds and providing material and training assistance to major NATO and non-NATO allies. The National Defense Authorization ACT (NDAA) for 2024 stipulates an expected defense budget jump of 2.8% to $841.4 billion in 2024. This figure excludes spending by the Department of Energy and Atomic Energy Defense Activities from the NDAA total spend. By 2028, the total defense budget is forecast to reach $931.6 billion, a positive CAGR in the forecast period of 2.6%. Major points of political contention in this year’s defense budget have been foreign military aid to Ukraine and Israel.​

Key Highlights

• Drivers of Defense expenditure include Russia, Ukraine and European Security, tensions in the Middle East, and military technology and rearmament
• Major ongoing procurement program include procurement of F-35 A, B & C, Columbia-class submarines, and Virginia-class submarines

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers detailed analysis of United States defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -

• United States defense budget: detailed analysis of United States 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of United States military doctrine and strategy to provide a comprehensive overview of United States military procurement regulation.
• Security Environment: political alliances and perceived security threats to United States are examined; there help to explain trends in spending and modernisation.
• Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
• Competitive landscape and strategic insights: analysis of the competitive landscape of United States defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the United States defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the United States market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the United States defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the United States government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available