Military Logistics Market to Grow at 5.2% CAGR to Reach $526.50 Billion by 2027 Led by Key Players AECOM, ANHAM, ASELSAN A, Claxton Logistics, Dyncorp International LLC, Fluor Corporation, Honeywell

According to the new research report published by The Insight Partners, titled “Military Logistics Market - Global Analysis and Forecast to 2027”, The Global Military Logistics Market is expected to account for US$ 339.56 Bn in 2018 and is expected to reach US$ 526.50 Bn by 2027 thereby, registering an attractive CAGR growth rate of 5.2% from 2019 to 2027.

The economies in the Asia Pacific region are experiencing a noteworthy growth in their military spending. For instance, countries, including Japan and India, boosted their military spending owing to rising tensions with China, as per global arms spending report published by SIPRI. In 2017, the Indian defense spending increased by 5.5% to approximately US$ 63.9 Bn, resulting in ranking India as one of the top five military spenders worldwide. Also, India is anticipated to witness the second highest CAGR in the Asia Pacific military logistics market, after China. The report further states that the Government of India is planning to modernize, expand, and improve the operational capability of defense, partially owing to rising tension with Pakistan and China.

Some of the key players operating in the Military Logistics market are AECOM, ANHAM, ASELSAN A.?., Claxton Logistics, Dyncorp International LLC, Fluor Corporation, Honeywell International Inc., KBR Inc., Klinge Corporation, Lockheed Martin Corporation, ManTech International Corporation, Oboronlogistics LLC, One Network Enterprises, SCM Globe, and Thales Group among other.

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Currently, the global military logistics market is dominated by some prominent market players with notable experience in meeting the military logistics requirement through years of engagement with the military of different countries. The market players present in military logistics market are mainly focused on maintaining long-term relations with the governments.

The APAC region comprises of developing countries that are witnessing an increase in their military spending. As per SIPRI, the region’s military spending increased by 52% over the last decade, accounting for US$ 392 Bn in 2018. Factors such as territorial disputes, economic growth, and long-sought military modernizations are propelling the increase in military spending. China is the key country in the APAC region, responsible for more than 60% of military spending. Also, after the U.S., China is the second largest country globally in terms of the defense budget. Also, as per the World Bank, Singapore dedicated 3.3% of its GDP towards defense. Also, India was ranked amongst the top five military spenders in 2018. The military logistics market is APC region is highly propelled by the steps taken by the U.S. to keep a check on China. The U.S. is accelerating its “freedom of navigation” naval operations in disputed waters in the Taiwan Strait and the South China Sea.

GLOBAL MILITARY LOGISTICS – MARKET SEGMENTATION

By Type
• Logistics & Distribution
o Freight Services
o Courier Services
• Facility Management
• Services

By Mode of Transportation
• Railways
• Roadways
• Airways
• Waterways

The research thoroughly establishes critical market drivers, well-identified restraints, future opportunities, and ongoing trends of the market with essential statistics to provide precise data in terms of value and volume. The report focuses on the competitive landscape along with the SWOT analysis of some leading company profiles that have a significant impact on global market practices.

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This release was published on openPR.