Global Defense IT Spending Market Set To Reach $129.87 Billion By 2029: Driven By Autonomous System Developments and Expanded IoT Integration
What Is The Projected Market
Size And Growth Rate Of The Global Defense IT Spending Market?
The defense IT spending market has
been witnessing steady growth over the last few years. From a size of $92.68
billion in 2024, the market is projected to grow to $96.57 billion in 2025 at a
compound annual growth rate (CAGR) of 4.2%. This growth can be majorly attributed
to cybersecurity concerns, shift to cloud services, advancements in AI, and
analytics, and integration of IoT.
Furthermore, the defense IT
spending market size is projected to witness strong growth in the coming years.
By 2029, the market size is estimated to hit $129.87 billion at a CAGR of 7.7%.
This growth can be attributed to the development of autonomous systems,
emphasis on mobile solutions, focus on interoperability, modernization
initiatives, IoT expansion, and advancements in AI and analytics.
How Can I Sample The Global
Defense IT Spending Market Report?
If you're interested in a detailed
overview of the defense IT spending market, visit: https://www.thebusinessresearchcompany.com/sample.aspx?id=8836&type=smp
Which Factors Are Catalyzing
The Growth Of The Defense IT Spending Market?
Rising geopolitical tensions are a
significant driving force behind the upward trajectory of the defense IT
spending market. With geopolitical tensions leading to increased demand for
advanced IT systems, the market experiences a consequent boost. Uppsala
University reports a 46% increase in deaths due to organized violence in 2021
compared to the previous year, indicating heightened geopolitical tensions and,
in turn, boding well for the defense IT spending market.
What Are The Crucial Segments
Within The Global Defense IT Spending Market?
1) By Type: Services, Hardware,
Software
2) By Force: Defense Forces,
Civilian Forces
3) By Application: IT
Infrastructure, Cybersecurity, Defense Cloud Computing, Data Analytics, IT
Application, Logistics And Assets Management, Other Applications
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Who Are The Major Players In
The Defense IT Spending Market?
Major players functioning in the
defense IT spending market include Leidos Holdings Inc., Accenture PLC,
International Business Machines Corporation, General Dynamics Corporation, BAE
Systems PLC, DXC Technology Company, Dell Inc., Northrop Grumman Corporation,
Unisys Corporation, Atos SE, Capgemini SE, Fujitsu Limited, Oracle Corporation,
SAP SE, Microsoft Corporation, Amazon Inc., AT&T Intellectual Property,
CACI International Inc., Atkins, Raytheon Technologies Corp., Lockheed Martin
Corporation, Aerojet Rocketdyne Holdings Inc., L3Harris Technologies Inc,
Science Applications International Corporation, Kratos Defense & Security
Solutions Inc., Mercury Systems Inc., Cubic Corporation, Parsons Corporation,
Hewlett Packard Enterprise Development LP, Viasat.
What Keys Trends Are Emerging
In The Defense IT Spending Market?
Product innovation is emerging as
a key trend in the market. Companies, such as BAE Systems, are focusing on
developing new products to strengthen their market presence. In May 2022, BAE
Systems introduced a new lightweight head-up display, LiteWave, for use in
commercial and military aircraft.
Which Region Is The Largest
Within The Defense IT Spending Market?
North America emerged as the
largest region in the defense IT spending market in 2024. However, various
regions including Asia-Pacific, Western Europe, Eastern Europe, South America,
the Middle East, and Africa are also covered in the defense IT spending market
report.
What Does The Defense IT
Spending Market Report 2025 Offer?
In the Defense IT Spending Market
research report from The Business Research Company, you can acquire global
market size, growth rate, regional shares, competitor analysis, detailed
segments, trends, and opportunities. Defense IT spending refers to the government
expenditure provided for various technologies and infrastructure to the
military.
To unlock valuable market
insights, purchase the exclusive report now: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8836
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