From the Wires
Market Research Report -- U.S. the Highest Spender in Global Military IT Data and Computing Market
Dec. 5, 2012 04:08 AM
ROCKVILLE, MD -- (Marketwire) -- 12/05/12 -- MarketResearch.com has announced the addition of the market research report "The Global Military IT, Data and Computing Market 2012-2022," to their product offering.
The global military IT, data and computing market is expected to value US$43.7 billion by the end of 2012, which is estimated to increase to US$68.6 billion by 2022, representing a CAGR of 4.6% during the forecast period 2012-2022. Market demand is anticipated to be driven by continuous developments and dynamism in areas such as network centric warfare, embedded computing, information security, cloud computing, and cyber security. The global market is expected to achieve a cumulative value of US$605 billion during the forecast period. The military IT data and computing market is expected to be dominated by North America, followed by Asia Pacific and Europe. In the wake of a transition of modern warfare, from the battleground to networks and cyber space, countries across the world are spending significantly on the development of their defensive and offensive capabilities in the areas of network centric warfare and cyber security.
The US is the highest spender in the global military IT data and computing market, with its highest expenditure incurred on enhancing its military networking capabilities, followed by software, hardware, and cyber security. Global expenditure on cyber warfare systems is expected to be robust over the forecast period as developing countries, such as Brazil and India, are now taking significant steps to enhance their capabilities in this domain as part of their national security strategy. Brazil has established a Cyber Warfare Communication Center as a response to numerous attacks on its military networks and India has recently announced plans to train approximately 500,000 cyber warriors over the next five years to protect its networks.
Many countries, such as the US, China, the UK, and Russia, are rapidly developing their network centric warfare capabilities; this is expected to bring about major changes in war fighting techniques due to the enhanced fighting capabilities of the military. This trend is predominantly observed in the US Army, which is the biggest spender in the networking segment globally. The increasing usage of commercial-off-the-shelf (COTS) hardware and software by countries such as the US, China, and India is expected to drive procurements in this segment. COTS components are commercial components used by the military in their readily available form.
For more information, visit http://www.marketresearch.com/land/product.asp?productid=7212749&progid=84995
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About Strategic Defence Intelligence
Strategic Defence Intelligence's unique monitoring platform tracks global defence activity for over 2,500 companies and 65 product categories in real time and in a highly structured manner, giving a comprehensive and easily-searchable picture of all defence industry activity. The site features: daily updated analysis, comment and news, company and customer profiles, defence spending, tenders and contracts, product and technology intelligence, a research and analysis database providing access to industry and competitor reports to enable business and market planning, and fully customizable tools, including instant personalized report generation and custom alerts.
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