The defense logistics market is poised to grow by USD 3.54 billion during 2020-2024, progressing at a CAGR of over 2% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Defense Logistics Market 2020-2024. (Graphic: Business Wire)
Read the 120-page report with TOC on “Defense Logistics Market Analysis Report by Solution (Military infrastructure, Military logistics services, and Military FMS), Geographic Segmentation (APAC, Europe, MEA, North America and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the rise in global military spending. In addition, the adoption of network-centric warfare communication infrastructure is anticipated to boost the growth of the defense logistics market.
An increase in the defense budget usually drives the military’s capital expenditure. Most armed forces are focusing on acquiring modern defense equipment and reducing the number of active military personnel. The global defense spending, which declined by $77 billion during 2012-2015, began to increase by $146 billion since 2016. The US plans to increase its defense spending by another 15.5% to reach $750 billion in 2020, which is encouraging increased spending on modern warfare equipment such as interceptor missiles. For instance, the US is making investments in the development of next-generation technology for space and missile programs and enhancing cyber capabilities. This rise in development of modern warfare equipment is leading to an increase in the need for defense logistics to carry out supply chain activities, storage, transportation, and distribution of weapons with troop supporting equipment. Thus, the rise in global military spending is expected to drive market growth during the forecast period.
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Major Five Defense Logistics Market Companies:
AECOM operates the business under various segments such as Design and Consulting Services, Construction Services, Management Services, and AECOM Capital. The company provides supply chain management services such as inventory management, logistics, sourcing, and procurement.
ANHAM FZCO offers products through the Services business unit. The company offers Supply chain solutions, which also includes procurement solutions, and Integrated Global Expenditures Tracking (iGET).
BAE Systems plc
BAE Systems plc operates under various business segments, namely Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, Maritime, and HQ. The company provides end-to-end logistics services to a wide range of customers.
Crowley Maritime Corp.
Crowley Maritime Corp. offers products through the following business segments: Crowley logistics, Crowley shipping, Crowley solutions, and Crowley fuels. The company offers Defense Freight Transportation Services (DFTS).
DynCorp International LLC
DynCorp International LLC offers products through the following business segments: Aviation, Intelligence, Logistics, Operations, and Training. The company provides comprehensive supply services, equipment maintenance, and life support logistics services.
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Defense Logistics Market Solution Outlook (Revenue, USD Billion, 2020-2024)
- Military infrastructure
- Military logistics services
- Military FMS
Defense Logistics Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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