Military Infrastructure Global Market 2024: Strategic Insights, Trends, and Growth Forecast

"The Business Research Company recently released a comprehensive report on the Global Military Infrastructure Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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.

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

Dell Inc., General Electric Company, Raytheon Technologies Corporation, Boeing Company, Lockheed Martin Corporation, Airbus SE, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems, L3Harris Technologies Inc., Safran SA, Leonardo S.p.A., Thales Group, AECOM, Textron Inc., Oshkosh Corporation, Rheinmetall AG, KBR Inc., Saab AB, General Atomics Aeronautical Systems Inc., ManTech International Corporation, Aselsan AS, Anham Fzco, Minrav Holdings Ltd., American International Contractors Inc., ArmourWorks International Ltd., Dewey Electronics Corporation, Dencrypt A/S$13.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• The Impact of Increasing Defense Expenditure on the Military Infrastructure Market
• Innovative Products In The Military Communications Network Market
• North America was the largest region in the military infrastructure market in 2023. The regions covered in the military infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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