The global defense IT spending market size is expected to experience significant growth by reaching USD 110.89 billion by 2027 while exhibiting a CAGR of 4.38% between 2020 and 2027. This is attributable to the growing demand for secure communication that is likely to surge the defense IT spending capacity of several countries worldwide. Fortune Business Insights in its latest report, titled, “Defense IT Spending Market Size, Share & COVID-19 Impact Analysis, By Type (Services, Hardware, and Software), By Application (IT Infrastructure, Cybersecurity, Defense Cloud Computing, Data Analytics, IT Application, Logistics & Asset Management, and Others), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 81.28 billion in 2019.
North America to Remain at Forefront; High Investment in Defense Sector to Aid Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the defense IT spending market share during the forecast period. This is attributable to the increasing spending on defense IT to modernize infrastructure by the governments in the region. North America stood at USD 30.16 billion in 2019.
The market in Asia-pacific is anticipated to showcase considerable growth backed by the increasing incidence of cyberattacks that is likely to boost the defense IT spending capacity of countries such as China, Japan, and India in the region between 2020 and 2027.
The global market is consolidated by the presence of major companies that are striving to maintain their positions by focusing on securing government contracts under the defense IT spending category. Moreover, the adoption of organic and inorganic strategies by other key players to maintain their presence is expected to bode well for the growth of the market in the forthcoming years.
June 2020 - Fujitsu Australia Limited, a subsidiary of Fujitsu Limited, secured a USD 21.0 million worth contract from the Department of Defense. Under the contract, the company will help with project delivery services by integrating defense capability in the Department’s IT infrastructure.
List of the Companies Profiled in the Market:
Leidos Holding Inc. (The US)
IBM Corporation (The US)
General Dynamics Corporation (The US)
BAE Systems PLC (The UK)
DXC Technology Company (The US)
Dell Inc. (The US)
Northrop Grumman Corporation (The US)
Atos SE (France)
Capgemini SE (France)
Fujitsu Limited (Japan)
Oracle Corporation (The US)
SAP SE (Germany)
Microsoft Corporation (The US)
Amazon, Inc. (The US)
AT&T Intellectual Property (Canada)
CACI International Inc. (The US)
Atkins (The UK)
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