The US Defense budget accounts to the majority of Global Defense spending. If US Defense budget is treated as a country’s GDP, it would rank amongst the top 25 GDPs in the world. The market is also experiencing a rapid rise in spending from countries like China, Saudi Arabia and India. However, China that ranks second in the Global Defense Budget list, spends less than half of the defense budget of US. The top five countries accounted to more than 60% of the market, these countries are United States, China, India, Russia and Saudi Arabia. The Geopolitical situation plays an important role in the defense spending, countries which have strained relationship with their neighboring countries are likely to spend more on their defense budget. A government of a country with a 30 percent risk of expected civil war within five years is expected to raise its spending by around 1.2 percent of GDP in comparison to another country without an evident risk.
Technology imitation especially with respect to design is one of the major challenges for the defense industry. The theft of sensitive design data by hackers who target programs, like the F-35 Joint Strike Fighter by the United States, for example, takes away a major advantage from the nation who developed the original technology. Due to the striking resemblance of China’s J-31 aircrafts to United States’ F-35 joint strike fighter, the global media has reported that China could have had access to the designs of the F-35 aircrafts.
The total Global Defence Budget is estimated at around USD 1.8 Trillion in 2020 and the market is expected to grow to around USD 2.3 Trillion by 2028. The CAGR of the market is accounted at around 2.72%. North America is expected to have the highest defense budget by the end of the forecast period. Land Forces are expected to be the largest department by the end of the forecast period while Defense Personnel is expected to be the largest segment by end allotment.
The report gives clear understanding on:
- The Key drivers, restraints and challenges which are expected to shape the Global Defense Budget are covered in detail in the report.
- The top twenty countries have been analyzed in detail with respect to their military budget, military size, and upcoming procurement programs.
- The PEST analysis of the Global Defense Budget has been covered in the report.
- The high growth markets have been identified in the Opportunity Analysis Chapter.
- The market forecast from 2020- 2028 considering all the factor, which is expected to impact the market.
- The Scenario Analysis Chapter covers the key scenarios and its impacts on the forecast chapter.
- The impact of Corona has been dealt in detailed across the Global economies.
Segmentation covered in this reportThe market is segmented based on End Allotment, Region, and Department:
By End Allotment
- Operation and Maintenance
- Procurement and Construction
- Research and Development
Region Wise Segmentation:
- North America
- Middle East
- Land Forces
- Air Forces
- Naval Forces
Country Level Analysis
- Saudi Arabia
Reasons to buy
- The report can be used by new players and potential entrants in the defense industry to gain competitive insights on the Global Defense Budget.
- The report helps to analyze the key historical trends of global military spending as well as the factors which are expected to shape upcoming trends in the future.
- The dynamics which influence global defense spending, which include the Key Drivers, Restraints and Challenges of the Global Defense Budget, are included in this report.
- Marketing and sales team of companies in the defense sector can use this report to formulate their medium- and long-term strategies and to reconfirm their short-term plans.
- The sales team can use the Market Forecast Chapter to formulate their medium-term sales plan.
- The sales and marketing team can use the country analysis chapter to identify trends and opportunities in the top defense spending countries.
- The key hot spots within the Global Defense Spending can be identified by analyzing the Opportunity Analysis Chapter.
- Various scenarios which could affect the Global Defense Spending are analyzed in this chapter such as the outbreak of infectious diseases recent.
- The possible impact of the Covid-19 outbreak on the Global Defence Budget has been analyzed in the report.
- The company profiles include financials, latest news, contracts, strategic alliances, and SWOT for the top 10 companies in the global defence sector.
Who is this report for?
- Defense Manufacturers: The report would be help to both the Defense manufacturers to understand a country’s spending potential and thereby target the right customers.
- Component Manufacturers: The report would help component manufacturers to understand the split of country’s spending in maintenance.
- Financial Institutions: The financial institutions like the financial brokers and the banking institutes can use this report to evaluate their funding or investment strategies.
- Department of Defense: The Department of Defense could use this report to understand the defense budget trends of the top ten countries. This would give them an overall perspective of potential markets.
- OEMs: Original Equipment Manufacturers could use this report to understand their key market potential
- Decision Makers: The future investment and technology focus decisions could be formulated based on the inputs of this report.
- Other Organizations: Various other NGO and Non- Governmental organizations involved with the research of global military spending can use this report to support their research.