Defense IT Spending Market Forecast Showing 2.9% CAGR to 2024: Leidos, Accenture, IBM, General Dynamics, BAE Systems, DXC, Dell, Northrop Grumman
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.
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.
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Companies Profiled in this report includes: 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
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.
This report presents a comprehensive overview, market shares and growth opportunities of Defense IT Spending market by product type, application, key companies and key regions.
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To study and analyze the global Defense IT Spending market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Defense IT Spending market by identifying its various subsegments.
Focuses on the key global Defense IT Spending players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Defense IT Spending with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Defense IT Spending submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Table of Content:
2019-2024 Global Defense IT Spending Market Report (Status and Outlook)
1 Scope of the Report
2 Executive Summary
3 Global Defense IT Spending by Players
4 Defense IT Spending by Regions
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Defense IT Spending Market Forecast
11 Key Players Analysis
11.1.1 Company Details
11.1.2 Defense IT Spending Product Offered
11.1.3 Leidos Defense IT Spending Revenue, Gross Margin and Market Share (2017-2019)
11.1.4 Main Business Overview
11.1.5 Leidos News
11.2.1 Company Details
11.2.2 Defense IT Spending Product Offered
11.2.3 Accenture Defense IT Spending Revenue, Gross Margin and Market Share (2017-2019)
11.2.4 Main Business Overview
11.2.5 Accenture News
11.3.1 Company Details
11.3.2 Defense IT Spending Product Offered
11.3.3 IBM Defense IT Spending Revenue, Gross Margin and Market Share (2017-2019)
11.3.4 Main Business Overview
11.3.5 IBM News
11.4 General Dynamics
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