The Military Infrastructure Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Military Infrastructure Global Market Report 2024, The military infrastructure market size has grown strongly in recent years. It will grow from $9.5 billion in 2023 to $10.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to defense budget allocations, geopolitical tensions, modernization initiatives, global security concerns, strategic military alliances.
The military infrastructure market size is expected to see strong growth in the next few years. It will grow to $13.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to natural disaster preparedness, emerging threats, interoperability requirements, space-based infrastructure, climate change adaptation. Major trends in the forecast period include technological advancements, digitalization and connectivity, space-based infrastructure expansion, adaptation to urban warfare
The increasing defense expenditure is expected to propel the growth of the military infrastructure market going forward. Defense expenditure, or military expenditure, refers to the total financial resources allocated by a government or a nation to fund its military and defense-related activities during a specific period, usually a fiscal year. A rise in defense spending led to the expansion of military facilities. This can include the construction of new bases, airfields, naval ports, and other strategic installations. The goal is to strengthen the nation’s defense capabilities and strategic reach. For instance, in March 2023, according to the United States Air Force (USAF), a US-based agency for the United States Department of the Air Force, the Air Force’s fiscal year (FY) 2024 budget request was roughly $215.1 billion, a $9.3 billion or 4.5% increase over the fiscal year 2023 approved figure. Therefore, the increasing defense expenditure drives the military infrastructure market.
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The military infrastructure market covered in this report is segmented –
1) By Type: Harbour, Proving Ground, Range, Training Course
2) By Size: Small, Medium, Large
3) By Application: Army, Navy, Air Force
Major companies operating in the military infrastructure market are focused on developing innovative products for military communications networks to increase their profitability in the market. A military communications network is a system of communication technologies and infrastructure the armed forces use to convey information. For instance, in August 2022, BAE Systems plc, a UK-based aerospace company, launched NetVIPR (Networked, Virtualized, Intelligent, and Protected Routing), its newest deployable networking product. This innovative new military communications system was created in the contemporary, multi-domain battlefield, including land, sea, air, space, cyber, and electronic warfare. The network consists of several nodes, and each node in the secure network can add, access, and move data, enabling intelligent and secure military communication that can function in even the most challenging conditions.
The military infrastructure market report table of contents includes:
1. Executive Summary
2. Military Infrastructure Market Characteristics
3. Military Infrastructure Market Trends And Strategies
4. Military Infrastructure Market – Macro Economic Scenario
5. Global Military Infrastructure Market Size and Growth
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26. South America Military Infrastructure Market
27. Brazil Military Infrastructure Market
28. Middle East Military Infrastructure Market
29. Africa Military Infrastructure Market
30. Military Infrastructure Market Competitive Landscape And Company Profiles
Top Major Players:
- Dell Inc
- General Electric Company
- Raytheon Technologies Corporation
- Boeing Company
- Lockheed Martin Corporation
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