The latest report by IMARC, titled “Defense IT Spending Market by Type (Services, Hardware, Software), Force (Defense Forces, Civilian Forces), Application (IT Infrastructure, Cybersecurity, Defense Cloud Computing, Data Analytics, IT Application, Logistics and Asset Management, and Others), and Region 2023-2028”, finds that the global defense IT spending market size reached US$ 92.9 Billion by 2022. Defense IT spending refers to the budget defined by governments or military organizations for the development, procurement, and implementation of information technology systems and solutions that support their defense and national security operations. This includes software, hardware, network infrastructure, and services, such as maintenance, support, and training. It helps transmit, generate, track, route military communications, and assist in collecting shipborne, airborne, land-based radio detection and ranging (RADAR), and other signals within the electromagnetic spectrum. In recent years, defense IT spending is gaining traction to ensure national security across the globe.
Global Defense IT Spending Market Trends:
One of the primary factors driving the market is the rising prevalence of cyber-attacks. Additionally, the increasing political tensions in numerous countries have augmented the demand for security and countermeasure systems, which is positively influencing the market growth. Besides this, the widespread adoption of augmented reality (AR) or virtual reality (VR) technologies to provide battlefield or flight simulations is also propelling the market growth. In line with this, the employment of advanced technologies, such as cloud computing, 5G, cybersecurity, autonomous systems, and data analytics in the military industry, is constantly rising. Along with this, extensive investments by governments of various nations in wearable computing, mobile solutions, and 3D printing for increasing defense capabilities are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 120.3 Billion by 2028, expanding at a CAGR of 4.2% during the forecast period (2023-2028).
- On the basis of the type, the market has been divided into services, hardware, and software. Services currently represent the largest market segment.
- Based on the force, the market has been segmented into defense and civilian forces. Defense holds the majority of the market share.
- On the basis of the application, the market has been segregated into IT infrastructure, cybersecurity, defense cloud computing, data analytics, IT application, logistics and asset management, and others. At present, cybersecurity accounts for the largest market share.
- Region-wise, North America (the United States and Canada) holds the leading position in the market. Other major regions include Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Accenture Plc, Amazon Web Services Inc. (Amazon.com Inc.), BAE Systems Plc, Capgemini SE, DXC Technology Company, General Dynamics Corporation, International Business Machines Corporation, Leidos Holding Inc., Microsoft Corporation, Northrop Grumman Corporation, Oracle Corporation and SNC Lavalin Inc.
|Base Year of the Analysis
| Type Covered
||Services, Hardware, Software
||Defense Forces, Civilian Forces
||IT Infrastructure, Cybersecurity, Defense Cloud Computing, Data Analytics, IT Application, Logistics and Asset Management, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Accenture Plc, Amazon Web Services Inc (Amazon.com Inc.), BAE Systems plc, Capgemini SE, DXC Technology Company, General Dynamics Corporation, International Business Machines Corporation, Leidos Holding Inc., Microsoft Corporation, Northrop Grumman Corporation, Oracle Corporation, SNC Lavalin Inc., etc.
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