Press release
Global Defense IT Spending Market Expected to Witness a Sustainable Growth over 2023
A military budget (or military expenditure), also known as a defense budget, is the amount of financial resources dedicated by a state to raising and maintaining an armed forces or other methods essential for defense purposes.
The IT and professional services markets are highly competitive and are not dominated by a single company or a small number of companies. A substantial number of companies offer services that overlap and are competitive with most players offer. In addition, the increased importance of offshore labor centers has brought several foreign-based firms into competition. The share of the top three enterprises is about 10%. The key players are Leidos, Accenture, IBM, General Dynamics, BAE Systems, DXC, Dell, Northrop Grumman, Unisys, Atos, Capgemini, Fujitsu, Oracle, SAP, Microsoft, Amazon, AT&T, CACI International Inc, Atkins and so on.
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Global Defense IT Spending Market: Forecast by Type / Application / Region
The global economic malaise over the past several years, lack of confidence for sustained growth and ballooning government deficits are driving reductions in government budgets and, therefore, defense budgets, for the foreseeable future. Even countries with strong economies that are expected to weather the economic turbulence have set budgets that are at best flat, while most countries are planning reductions in defense expenditures over the next five years. At the same time, there has been no reduction in demand for militaries to perform operational missions in response to periodic flaring of regional tensions, as world events continue to validate. The competing tensions of national security concerns and pressure to address structural fiscal issues are causing the militaries in many countries to search for efficiencies and cost-reduction approaches. These efforts are essential to sustain the operational forces, equipment and personnel defense organizations have worked assiduously to develop, with the additional goal of investing in modernization efforts and future capabilities.
According to this study, over the next five years the Defense IT Spending market will register a 2.9% CAGR in terms of revenue, the global market size will reach US$ 88500 million by 2024, from US$ 76700 million in 2019. In particular, this report presents the global revenue market share of key companies in Defense IT Spending business, shared in Chapter 3.
Global Defense IT Spending Market: Key Players
Leidos
Accenture
IBM
General Dynamics
BAE Systems
DXC
Dell
Northrop Grumman
Unisys
Atos
Capgemini
Fujitsu
Oracle
SAP
Microsoft
Amazon
AT&T
CACI International Inc.
Atkins
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Related Information:
United States Defense IT Spending Market Research Report 2018
Europe Defense IT Spending Market Research Report 2018
North America Defense IT Spending Market Research Report 2018
Asia-Pacific Defense IT Spending Market Research Report 2018
China Defense IT Spending Market Research Report 2018
EMEA Defense IT Spending Market Research Report 2018
Global Defense IT Spending Market Research Report 2018
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