Defense Logistics Market Is Likely to Experience a Tremendous Growth by 2029

The global defense logistics market is anticipated to grow at a considerable CAGR of 2.3% during the forecast period. The management of logistics and supply chain operations is of vital importance in the defense sector. Defense logistics focuses on key areas of logistics and supply chain management in contexts, such as sustainability, inventory management, resilience, procurement, information systems, and crisis response. The growth of the market is attributed to factors such as increasing defense spending, and the need for efficient logistics support in military operations. According to data on global military spending published on April 2023, by the Stockholm International Peace Research Institute (SIPRI), total global military expenditure increased by 3.7% in real terms in 2022, to reach a new high of $2240 billion. Military expenditure in Europe saw its steepest year-on-year increase in at least 30 years. The three largest spenders in 2022 were the US, China, and Russia accounting for 56% of the global military spending. The increased defense expenditure is further fueled by events such as wars or other geopolitical conflicts requiring the change of locations of military troops from one position to another.

The government across the regions has been pushing aggressively to upgrade its defense force with increased allocation of investment required for defense sectors in budgets. All these factors are contributing positively to the growth of the market. For instance, in May 2023, the Danish government revealed its plans to invest spend $5.3 billion in a restoration of the foundation of the Armed Forces plan. The amount will be used to overcome several challenges the Danish defense forces faced, including old buildings and outdated IT. As per the government, $3.5 billion will be spent on restoring capacities and efforts that the Armed Forces cannot maintain within the current financial situation and $1.6 billion will go to new investments. Also, in March 2022, according to the draft budget proposals presented by the National People's Congress (NPC), China hiked its annual defense budget by 7.1% to $230 billion from $209 billion, three times that of India's military spending. Also in 2021/22, the UK spent $54.3 billion on defense. This was $4.3 billion higher than the previous year.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

• By Service Type

• By Application

• By Transportation Mode

• By End User

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

• Competitive Landscape- including Lockheed Martin Corp., BAE Systems plc, General Dynamics Corp., Northrop Grumman Corp., and others

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Defense Logistics Market Report Segment

By Service Type

· Armament

· Military Troop

· Technical Support & Maintenance

· Medical Aid

· Fire-fighting Protection

· Others

By Application

· Military Infrastructure

· Military Logistics Services

· Military Foreign Military Sales (FMS)

By Transportation Mode

· Roadways

· Airways

· Seaways and Railways

By End User

· Army

· Navy

· Air Force

· Others

Defense Logistics Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• AECOM

• ANHAM FZCO

• Booz Allen Hamilton Inc.

• Crowley Maritime

• General Dynamics

• Honeywell International Inc.

• Huntington Ingalls Industries, Inc.

• Jacobs Engineering Group Inc.

• KBR, Inc.

• L3Harris Technologies, Inc.

• Leonardo S.p.A.

• Lockheed Martin Corp.

• Northrop Grumman Corp.

• PAE Incorporated

• Raytheon Technologies Corp.

• Rheinmetall AG

• Safran S.A.

• Serco Group plc

• Thales Group

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