Lewes, DE -- (ReleaseWire) -- 02/10/2014 -- According to new report global military IT, data, and computing market is estimated to value US$54.2 billion in 2014 and increase at a CAGR of 2.94% during the forecast period, to reach its peak of US$72.4 billion by 2024.
The Global Military IT, Data, and Computing Market 2014-2024' report offers the reader detailed analysis of the global Military IT, Data and Computing market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts. This report provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of the leading companies in the industry, and key news. Inquire about this report at: http://www.marketresearchreports.com/strategic-defence-intelligence/global-military-it-data-and-computing-market-2014-2024
What are the key drivers behind recent market changes?
Recent years have witnessed the spiraling importance of network-centric warfare (NCW), which utilizes digitized operational assets to leverage information supplied in times of war. Various technological and structural efforts aim to create an information-based army that is capable of responding to threats more quickly, thereby effectively fighting asymmetric enemies.
What makes this report unique and essential to read?
'The Global Military IT, Data and Computing Market 2014-2024' provides detailed analysis of the current industry size and growth expectations from 2014 to 2024, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
- The report provides detailed analysis of the market for Military IT, Data and Computing during 2014-2024, including the factors that influence why countries are investing or cutting expenditure on biometric systems. It provides detailed expectations of growth rates and projected total expenditure.
- Public and private partnerships are crucial to effectively combat cyber-attacks. The costs of developing effective cyber defenses are increasing rapidly due to advancements in technologies, and defense ministries around the world have realized that developing these solutions by themselves would result in expensive procurement costs. When a joint development project is undertaken however, the RandD costs are shared by all countries in the consortium, with almost all member countries procuring a system, resulting in lower unit costs.
Key Market Issues
- The US, the highest spender on Military IT, Data and Computing systems has spent a vast amount of money on the development of enterprise resource planning (ERP) systems over the last decade. However, as the Army, Navy, and Air Force look to implement these systems, they are struggling with time delays and cost overruns.
- The emergence of affordable, smart mobile devices, along with advances in wireless communications such as 4G, WiFi, and Bluetooth, have worked to increase the vulnerability of national networks, with a large number of business enterprises widely adopting mobile devices. Even critical infrastructure entities, including tactical military units and electronic grids, are employing commercial wireless technology into their operations. This area poses a tough challenge for cyber security providers, as the increasing capability of mobile phones is also expected to increase the complexity of attacks faced by these devices.
- Attacks from malware makes it important for defenders to identify the source of the malware so that similar patterns can be tracked and observed for flaws, and a proper response to the attack can be delivered without causing undue inconvenience to the entire cyberspace community. This challenge stems from the fact that the cyber security institutional eco-system, which consists of a broad set of international, national, and private organizations, has unclear and overlapping boundaries, as well as differing capacities, due to which a comprehensive database on such malware has not been developed.
- A large number of countries now possess at least basic cyber-attack capabilities and an unknown number of extremist groups have also developed or acquired advanced cyber weapons. Some commercially available products are flexible enough to be classified as dual purpose, such as security testing tools and weapons of attack; however, some organizations are developing cyber weapons and cloaking them under the heading of security testing tools. These cyber weapons are in their infancy and are expected to rapidly evolve over the next decade.
- Coherent and relevant data on the various instances of cybercrime is one area where many countries are falling short. Information gathered in such databases could also be of use to botnet detection centers, cybercrime fighters, and anti-terrorist organizations. Companies are now increasingly calling on government agencies to establish databases to combat Internet fraud.
- Recent years have witnessed a significant growth in the demand for COTS-embedded computers. This demand for equipment, which includes hardware, software, and support services, is being driven by the pursuit of increasing intelligence and processing power across a range of communications, electronic warfare, radar, and related, defense platforms. As modern warfare has evolved, the equipment used in it has evolved as well. Rugged embedded computers are now included on aircraft, vehicles, radios, sensors, unmanned aerial vehicles (UAVs), and other electronic devices. Most military systems manufacturers are now shifting their focus to COTS products, in terms of rugged embedded computer acquisitions. The prime reason for this is the lower costs as compared to systems designed especially for one task. Therefore, despite the fact that the US DoD budget is expected to decline over the forecast period, the growing importance of systems upgrades and advanced technology on existing military platforms is expected to drive the demand for rugged embedded computers.
Spanning over 194 pages, 62 tables and 111 figures “The Global Military IT, Data and Computing Market 2014-2024” report covering the Global Military IT, Data, and Computing Market Size and Drivers, Industry Trends, Recent Developments and Challenges, SWOT Analysis of the Military IT, Data and Computing Market, Country Analysis - Military IT, Data and Computing Market, Major Military IT, Data and Computing Programs, Competitive Landscape and Strategic Insights, Appendix. The report covered 16 companies- ITT Exelis, Raytheon, Booz Allen Hamilton, Presagis, Elbit Systems, Lockheed Martin, Thales, Northrop Grumman, BAE Systems, SAP AG, DRS Tactical Systems, SAIC, Microsoft, Dynamic Research Corporation, General Dynamics, Hewlett-Packard Company.
Inquire about this report at: http://www.marketresearchreports.com/strategic-defence-intelligence/global-military-it-data-and-computing-market-2014-2024
Browse other reports under defence category at: http://www.marketresearchreports.com/defence
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
For regular industry updates subscribe to our newsletter at: http://www.marketresearchreports.com/subscribe-to-newsletter
Follow us on twitter: https://twitter.com/MyMarketReports