Defense IT Spending Market Expected to Behold a CAGR of 2.9% During 2019– 2024 | Leidos, Accenture, IBM, General Dynamics, BAE Systems, DXC, Dell, Northrop Grumman, Unisys
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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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
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.
The global Defense IT Spending market is valued at 76700 million USD in 2018 and is expected to reach 88500 million USD by the end of 2024, growing at a CAGR of 2.9% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Defense IT Spending.
This report studies the Defense IT Spending market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Defense IT Spending market by product type and applications/end industries.
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Table of Content:
1 Defense IT Spending Market Overview
2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 Defense IT Spending Type and Applications
184.108.40.206 Product A
220.127.116.11 Product B
2.1.3 Leidos Defense IT Spending Revenue, Gross Margin and Market Share (2017-2018)
2.2.1 Business Overview
2.2.2 Defense IT Spending Type and Applications
18.104.22.168 Product A
22.214.171.124 Product B
2.2.3 Accenture Defense IT Spending Revenue, Gross Margin and Market Share (2017-2018)
2.3.1 Business Overview
2.3.2 Defense IT Spending Type and Applications
126.96.36.199 Product A
188.8.131.52 Product B
2.3.3 IBM Defense IT Spending Revenue, Gross Margin and Market Share (2017-2018)
2.4 General Dynamics
3 Global Defense IT Spending Market Competition, by Players
4 Global Defense IT Spending Market Size by Regions
5 North America Defense IT Spending Revenue by Countries
6 Europe Defense IT Spending Revenue by Countries
7 Asia-Pacific Defense IT Spending Revenue by Countries
8 South America Defense IT Spending Revenue by Countries
9 Middle East and Africa Revenue Defense IT Spending by Countries
10 Global Defense IT Spending Market Segment by Type
11 Global Defense IT Spending Market Segment by Application
12 Global Defense IT Spending Market Size Forecast (2019-2024)
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