Global Defense IT Spending Market 2024-2028
The defense IT spending market is forecasted to grow by USD 23,533.16 mn during 2023-2028, accelerating at a CAGR of 4.49% during the forecast period. The report on the defense IT spending market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the development of autonomous systems, increasing military budgets, and the need for secure and resilient communication networks.
Technavio's defense IT spending market is segmented as below:
By Type
By Application
- Cyber security
- IT infrastructure
- Logistic and asset management
- Others
By Geography
- North America
- APAC
- Europe
- Middle East and Africa
- South America
This study identifies the adoption of artificial intelligence (AI) and machine learning (ML) as one of the prime reasons driving the defense IT spending market growth during the next few years. Also, increasing adoption of cloud computing and storage and adoption of advanced communication and networking technologies will lead to sizable demand in the market.
The report on the defense IT spending market covers the following areas:
- Defense IT spending market sizing
- Defense IT spending market forecast
- Defense IT spending market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading defense IT spending market vendors that include Accenture Plc, Amazon.com Inc., BAE Systems Plc, CRON AI, Cubic Corp., CyAmast Pty Ltd., Dell Technologies Inc., General Dynamics Corp., Hewlett Packard Enterprise Co., Holo Light GmbH, International Business Machines Corp., Kratos Defense and Security Solutions Inc., Leidos Holdings Inc., ManTech International Corp., Microsoft Corp., Northrop Grumman Corp., Oracle Corp., Pennant International Group PLC, Science Applications International Corp. Inc., and Palantir Technologies Inc.. Also, the defense IT spending market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.