DUBLIN--(BUSINESS WIRE)--The "Future of the US Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The report offers detailed analysis of the US defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.
Being the largest defense spender in the world, with a budget of over US$ 639 billion in 2018, the US is expected to sustain its superiority over other nations in the coming years. The US defense expenditure is expected to grow at a CAGR of around 1.98% during the forecast period to reach around US$ 742 billion by 2023.
The country's defense expenditure will largely be driven by efforts to retain its military supremacy and initiatives to replace the aged and worn-out weapons that have been used in the Iraq and Afghanistan wars.
Moreover, the country's initiatives to deal with the turbulence in the Middle East that could pose a potential threat to the interests of the US are also expected to drive the expenditure over the forecast period. As a percentage of GDP, the country's defense expenditure is expected to average 3.1% over the forecast period.
The capital expenditure is expected to average 37.5% during 2019 and 2023 and the share of revenue expenditure is expected to average 62.5% during the forecast period.
During 2013-2017, the US retained its position as the largest exporter of defense equipment in the world, and is expected to remain the same over the forecast period, primarily due to the increase in defense budgets of a number of US arms importing countries, including allies such as Saudi Arabia, UAE, Turkey, Taiwan, Australia, India, Iraq, South Korea, Singapore, Egypt, the UK, Japan, Qatar, Kuwait and Israel among others.
The country possesses a diverse consumer base and historic data shows that Saudi Arabia, UAE and Turkey emerged as the largest consumers of US-manufactured defense goods.
- Lockheed Martin
- General Dynamics
- L-3 Technologies Inc.
- Northrop Grumman Corp.
- Science Application International Corp. (SAIC)
- Honeywell International Inc.
- Sikorsky Aircraft
- General Electric (GE) Aviation
- Textron Marine and Land Systems
Key Topics Covered
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Market Entry Strategy
7. Competitive Landscape and Strategic Insights
8. Business Environment and Country Risk
For more information about this report visit https://www.researchandmarkets.com/research/jln2sr/future_of_the?w=4