A military budget (or military expenditure), also known as a defense budget, is the amount of financial resources dedicated by a state to raising and maintaining an armed forces or other methods essential for defense purposes.
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The IT and professional services markets are highly competitive and are not dominated by a single company or a small number of companies. A substantial number of companies offer services that overlap and are competitive with most players offer. In addition, the increased importance of offshore labor centers has brought several foreign-based firms into competition. The share of the top three enterprises is about 10%. The key players are Leidos, Accenture, IBM, General Dynamics, BAE Systems, DXC, Dell, Northrop Grumman, Unisys, Atos, Capgemini, Fujitsu, Oracle, SAP, Microsoft, Amazon, AT&T, CACI International Inc, Atkins and so on.
The global economic malaise over the past several years, lack of confidence for sustained growth and ballooning government deficits are driving reductions in government budgets and, therefore, defense budgets, for the foreseeable future. Even countries with strong economies that are expected to weather the economic turbulence have set budgets that are at best flat, while most countries are planning reductions in defense expenditures over the next five years. At the same time, there has been no reduction in demand for militaries to perform operational missions in response to periodic flaring of regional tensions, as world events continue to validate. The competing tensions of national security concerns and pressure to address structural fiscal issues are causing the militaries in many countries to search for efficiencies and cost-reduction approaches. These efforts are essential to sustain the operational forces, equipment and personnel defense organizations have worked assiduously to develop, with the additional goal of investing in modernization efforts and future capabilities.
In 2018, the Global Defense IT Spending market size was 76700 million US$ and it is expected to reach 93200 million US$ by the end of 2025, with a CAGR of 2.8% during 2019-2025.
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Defense IT Spending Market is categorized on the basis of following product types:
(Each product type is covered in the terms of growth rate, market size, regional market size analysis, market size forecast, etc.)
• Services
• Hardware
• Software
Defense IT Spending Market is studied for the following applications:
(Each application is covered in the terms of market share, market size, regional market size analysis, market size forecast, etc.)
• IT Infrastructure
• Network & Cyber Security
• IT Application
• Logistics & Asset Management
• Others
Key companies profiled in this report are Leidos, Accenture, Ibm, General Dynamics, Bae Systems, Dxc, Dell, Northrop Grumman, Unisys, Atos, Capgemini, Fujitsu, Oracle, Sap, Microsoft, Amazon, At&T, Caci International Inc., Atkins and more. These companies are profiled in the terms of company basic details, business overview, product knowledge, historical revenue and recent developments.
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Through the various topics covered in this report; it provides key insight of the market like Market size and share by regions, trends, driver, opportunities, revenue, market share of companies, their products, mergers & acquisitions, market size by types & applications for United States, Europe, China, Japan, Southeast Asia, India, and Central & South America. With this strong base, this report also provides the estimated forecast to 2025 by product types, applications and by regions.
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