Top 10 Growth Opportunities in Defense, 2024

Top 10 Growth Opportunities in Defense, 2024

New Operational Concepts to Meet a Mix of Advanced Technology and Traditional Military Equipment

RELEASE DATE
08-Dec-2023
REGION
Global
Deliverable Type
Market Outlook
Research Code: K9B7-01-00-00-00
SKU: AE_2023_403
AvailableYesPDF Download
$2,450.00
In stock
SKU
AE_2023_403

Top 10 Growth Opportunities in Defense, 2024
Published on: 08-Dec-2023 | SKU: AE_2023_403

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The defense industry will continue to face several challenges in 2024 as armed forces with limited financial resources worldwide will seek to modernize their equipment. Countering new threats, such as hypersonic missiles and unmanned loitering munitions, requires new operational thinking and technology advancements from the defense industry. This study highlights 10 growth opportunities for the defense industry that will advance military capabilities.

Globally, defense firms are pressured by commercial companies that offer advanced technologies at low prices. In addition, domestic defense firms that formerly enjoyed repeat contracts, are now forced to compete with foreign defense companies that produce products proven under recent combat conditions. The insertion of advanced commercial information technology (IT) such as 5G, cloud, AI, and gaming products into communications networks, targeting sensors, and intelligence analysis operations also increases competition. Large traditional defense firms continue to have an opportunity to partner with small, innovative, and commercially successful firms and government acquisition officials to meet their modernization goals.

Adversaries have demonstrated excellent long-range rapid targeting for hypersonic and conventional weapons. Layered, integrated, and effective theater air defenses are also deployed and combat-proven. Because of this, governments will continue to invest heavily in research and development (R&D) to improve long-range weapons and missile defense systems.

Efforts to support Ukraine, Israel, and other nations have left some defense organizations with reduced stocks of missiles, artillery ammunition, and weapon systems. Many defense leaders have also come to the realization that the former levels of munitions manufacturing and stocks are inadequate for current and future needs, necessitating an expanded industrial base and increased production.

Author: Brad Curran

Strategic Imperatives

Top 10 Growth Opportunities

Growth Opportunity 1: Missile Defense

Growth Opportunity 2: Counter Unmanned Aerial Systems

Growth Opportunity 3: Directed Energy Weapons

Growth Opportunity 4: Hypersonic Missiles

Growth Opportunity 5: European Defense Initiatives

Growth Opportunity 6: Military Unmanned Vehicles

Growth Opportunity 7: Cloud-based Test Software

Growth Opportunity 8: Open-source C2 Systems

Growth Opportunity 9: Maintenance Repair and Overhaul

Growth Opportunity 10: Asia-Pacific Defense Initiatives

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The defense industry will continue to face several challenges in 2024 as armed forces with limited financial resources worldwide will seek to modernize their equipment. Countering new threats, such as hypersonic missiles and unmanned loitering munitions, requires new operational thinking and technology advancements from the defense industry. This study highlights 10 growth opportunities for the defense industry that will advance military capabilities. Globally, defense firms are pressured by commercial companies that offer advanced technologies at low prices. In addition, domestic defense firms that formerly enjoyed repeat contracts, are now forced to compete with foreign defense companies that produce products proven under recent combat conditions. The insertion of advanced commercial information technology (IT) such as 5G, cloud, AI, and gaming products into communications networks, targeting sensors, and intelligence analysis operations also increases competition. Large traditional defense firms continue to have an opportunity to partner with small, innovative, and commercially successful firms and government acquisition officials to meet their modernization goals. Adversaries have demonstrated excellent long-range rapid targeting for hypersonic and conventional weapons. Layered, integrated, and effective theater air defenses are also deployed and combat-proven. Because of this, governments will continue to invest heavily in research and development (R&D) to improve long-range weapons and missile defense systems. Efforts to support Ukraine, Israel, and other nations have left some defense organizations with reduced stocks of missiles, artillery ammunition, and weapon systems. Many defense leaders have also come to the realization that the former levels of munitions manufacturing and stocks are inadequate for current and future needs, necessitating an expanded industrial base and increased production. Author: Brad Curran
More Information
Deliverable Type Market Outlook
Author Brad Curran
Industries Aerospace, Defence and Security
No Index No
Is Prebook No
Keyword 1 Defense Industry Trends
Keyword 2 Defense Technology Trends
Keyword 3 Defense Industry
Podcast No
WIP Number K9B7-01-00-00-00