Defense IT Spending Global Market Report 2023

“Defense IT Spending Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on defense it spending market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for defense it spending ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The defense it spending market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Services; Hardware; Software

• 2) By Force: Defense Forces; Civilian Forces

• 3) By Application: IT Infrastructure; Cybersecurity; Defense Cloud Computing; Data Analytics; IT Application; Logistics and Assets Management; Other Applications

• Companies Mentioned: Leidos Holdings Inc; Accenture plc; International Business Machines Corporation; General Dynamics Corporation; BAE Systems PLC

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the defense it spending market are Leidos Holdings Inc., Accenture plc, International Business Machines Corporation, General Dynamics Corporation, BAE Systems PLC, DXC Technology Company, Dell Inc., Northrop Grumman Corporation, Unisys Corporation, Atos SE, Capgemini SE, Fujitsu Limited, Oracle Corporation, SAP SE, Microsoft Corporation, Amazon Inc., AT&T Intellectual Property, CACI International Inc., and Atkins.

The global defense IT spending market is expected to grow from $85.26 billion in 2022 to $91.05 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The defense IT spending market is expected to grow to $111.95 billion in 2027 at a CAGR of 5.3%.

The defense IT spending market consists of sales of defense material handling, enabling cost-savings and a competitive edge to the army, naval, and space domain. The market value includes the value of related goods sold by the service provider or included within the service offering. The defense IT spending market also includes sales of spending on defense equipment such as weapons, aircraft, and gear or personal equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Defense IT spending is the expenditure of any collection of computers, software, and networks of defense systems. It is the money spent by a government to provide its military with various technologies and infrastructure.

North America was the largest region in the defense IT spending market in 2022. The regions covered in the defense IT spending report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of defense IT spending are services, hardware and software. Hardware refers to the physical parts of a computer and related devices. The forces are defense forces and civilian forces. It has various applications involved such as IT infrastructure, cybersecurity, defense cloud computing, data analytics, IT application, logistics and assets management and others.

Rising political tensions are expected to propel the growth of the defense IT spending market going forward. Geopolitical tensions are the political concerns that produce tension or turmoil between two or more countries. These tensions can be triggered by a variety of circumstances, including power, commerce, military activities, climate change, or significant events. Rising geopolitical tensions are leading countries to adopt advanced IT systems, as a result, increasing geopolitical tensions increase the demand for the defense IT spending market. For instance, in June 2022, according to Uppsala University, a Sweden-based public university, 119,000 people died in organized violence in 2021. This is an increase of 46 percent compared to the previous year. The Uppsala Conflict Data Program (UCDP) at Uppsala University registered 54 different conflicts where a state was involved on one or both sides during 2021. Therefore, the rising geopolitical tensions are driving the growth of the defense IT spending market.

Product innovation is a key trend gaining popularity in the defense IT spending market. Major companies operating in the defense IT spending market are focused on developing new product solutions to strengthen their position in the market. For instance, in May 2022, BAE Systems, a UK-based company operating in defense IT spending, launched a new lightweight head-up display LiteWave®for use in commercial and military aircraft. The product has unique features such as it can be fitted in aircraft with even the most limited cockpit space. It's also up to 80% faster to install and its simple design makes maintenance quicker and cheaper. It marks the next stage in bringing state-of-the-art digital technology to the marketplace and is available to begin flight trials for future customers on commercial and military aircraft.

In February 2021, Veritas capital, a New York-based private-equity firm acquired Northrop Grumman for an amount of $3.4 billion in cash. This acquisition creates a leading government mission capability integrator and IT provider focused on delivering high-end technology-enabled services and unparalleled support to a broad range of critical government missions. Northrop Grumman is a US-based company operating in defense IT spending.

The countries covered in the defense IT spending market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The defense it spending market research report is one of a series of new reports from The Business Research Company that provides defense it spending market statistics, including defense it spending industry global market size, regional shares, competitors with a defense it spending market share, detailed defense it spending market segments, market trends and opportunities, and any further data you may need to thrive in the defense it spending industry. This defense it spending market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.