The Global Military It, Data and Computing Market is Expected to Value US$43.7Bn
The global military IT, data and computing market is expected to value US$43.7 bn by the end of 2012, which is estimated to increase to US$68.6 bn by 2022, representing a CAGR of 4.6% during the forecast period 2012-2022. Market demand is anticipated to be driven by continuous developments and dynamism in areas such as network centric warfare, embedded computing, information security, cloud computing, and cyber security. The global market is expected to achieve a cumulative value of US$605 billion during the forecast period. The military IT data and computing market is expected to be dominated by North America, followed by Asia Pacific and Europe. In the wake of a transition of modern warfare, from the battleground to networks and cyber space, countries across the world are spending significantly on the development of their defensive and offensive capabilities in the areas of network centric warfare and cyber security.
The US is the highest spender in the global military IT data and computing market, with its highest expenditure incurred on enhancing its military networking capabilities, followed by software, hardware, and cyber security. Global expenditure on cyber warfare systems is expected to be robust over the forecast period as developing countries, such as Brazil and India, are now taking significant steps to enhance their capabilities in this domain as part of their national security strategy. Brazil has established a Cyber Warfare Communication Center as a response to numerous attacks on its military networks and India has recently announced plans to train approximately 500,000 cyber warriors over the next five years to protect its networks.
The Global Military IT, Data and Computing Market 2012-2022
Many countries, such as the US, China, the UK, and Russia, are rapidly developing their network centric warfare capabilities; this is expected to bring about major changes in war fighting techniques due to the enhanced fighting capabilities of the military. This trend is predominantly observed in the US Army, which is the biggest spender in the networking segment globally. The increasing usage of commercial-off-the-shelf (COTS) hardware and software by countries such as the US, China, and India is expected to drive procurements in this segment. COTS components are commercial components used by the military in their readily available form.
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Source : ASDReports - Market Research
Aug 25 - 27, 2014 - Washington, United States