Defense Industry Outlook: Emerging Defense Opportunities in 2024

6
Defense Industry Outlook: Emerging Defense Opportunities in 2024


Chicago, Feb. 12, 2024 (GLOBE NEWSWIRE) — In 2023, global defense spending surged by 18.5%, marking a significant increase that underscores the ongoing expansion in military expenditure amidst rising concerns over new security challenges fueled by persistent conflicts and geopolitical tensions. The defense market is swiftly adapting to the growing demands for advanced capabilities across various domains, including air, land, sea, and space. Key areas such as hypersonic missile defense, artificial intelligence (AI), electric vehicles (EVs), space forces, autonomous systems, digital transformation, and space situational awareness stand at the forefront of these market developments.

Ask For PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153569545

Top defense companies, including Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Saab, BAE Systems, and Thales, are at the forefront of this evolution, empowering military forces to upgrade their operational capacities and integrate cutting-edge technologies. A favorable startup ecosystem attracts military contracts and investments, leading to the growth of the defense industry. These startups are pivotal in incorporating AI into defense mechanisms, thus facilitating the advent of novel defense suppliers and the diffusion of next-generation military capabilities. The trend toward manned-unmanned teaming and AI-driven pilot systems exemplifies the ongoing shift in defense technology.

Autonomous counter-drone technologies and quadruped robots represent the next-generation military advancements poised to be integrated into operation in 2024. A range of defense manufacturers are in the process of developing these sophisticated capabilities to empower military clients with enhanced operational effectiveness and improved soldier safety in alignment with evolving mission demands.

Intense current conflicts globally are prompting targeted increases in defense spending across various regions. Ukraine, notably, is benefiting from defense funds provided by an array of international allies, while defense firms are actively seeking to establish production facilities within the country. The ongoing geopolitical turmoil, sparked by the conflict between Israel and Hamas, has led to a series of armed confrontations in the Middle East, drawing in international allies and insurgent factions. Concurrently, space is emerging as a critical theater of military operations, with numerous nations inaugurating dedicated military space services. This shift is catalyzing an increase in space force budgets and amplify investments in military space technologies, including space situational awareness and low earth orbit (LEO) satellite constellations.

Key Trends of 2024 Analyzed in The Defense Industry Outlook:

  1. Unmanned Platforms and Portable Systems to Adopt Hydrogen Fuel Cells

With increased field testing of hydrogen fuel cells, their deployment is anticipated across various unmanned and man-portable systems within the defense sector. This development is poised to establish a precedent for the widespread adoption of hydrogen fuel cell technology in compact system formats.

  1. Hypersonic Interceptors to be Developed and Integrated with Missile Defense Systems

As the development of hypersonic missiles progresses, the concurrent advancement of countermeasures, including hypersonic interceptors, signals an impending wave of technological enhancements within the missile defense arena.

  1. AI-enabled Pilot to be Deployed in Combat Aircraft

Anticipated allocations in defense budgets are set to fund the development of AI-enabled unmanned aircraft. AI-pilot technologies are expected to be integrated into existing manned aircraft. This move aims to showcase the next generation of advanced manned combat aircraft, potentially accelerating the ongoing efforts toward effective manned-unmanned teaming in military operations.

Bottom of Form

REQUEST SAMPLE @Top of Form

https://www.marketsandmarkets.com/requestsampleNew.asp?id=153569545

The Aerospace & Defense practice at MarketsandMarkets is diligently tracking the global defense industry, evaluating market sizes and trends to aid stakeholders in strategic decision-making. The firm offers in-depth defense industry analysis through the regular publication of comprehensive syndicate reports. One notable publication, the Defense Industry Outlook, delves into current trends and future prospects, offering a valuable resource for entities focused on seizing short-term and long-term revenue opportunities within the defense sector. This report serves as an essential tool for those aiming to grasp the recent historical context and forthcoming defense industry growth, thereby facilitating strategic planning and decision-making.






Disasters Expo USA, is proud to be supported by Inergency for their next upcoming edition on March 6th & 7th 2024!

The leading event mitigating the world’s most costly disasters is returning to the Miami Beach

Convention Center and we want you to join us at the industry’s central platform for emergency management professionals.
Disasters Expo USA is proud to provide a central platform for the industry to connect and
engage with the industry’s leading professionals to better prepare, protect, prevent, respond
and recover from the disasters of today.
Hosting a dedicated platform for the convergence of disaster risk reduction, the keynote line up for Disasters Expo USA 2024 will provide an insight into successful case studies and
programs to accurately prepare for disasters. Featuring sessions from the likes of The Federal Emergency Management Agency,
NASA, The National Aeronautics and Space Administration, NOAA, The National Oceanic and Atmospheric Administration, TSA and several more this event is certainly providing you with the knowledge
required to prepare, respond and recover to disasters.
With over 50 hours worth of unmissable content, exciting new features such as their Disaster
Resilience Roundtable, Emergency Response Live, an Immersive Hurricane Simulation and
much more over just two days, you are guaranteed to gain an all-encompassing insight into
the industry to tackle the challenges of disasters.
By uniting global disaster risk management experts, well experienced emergency
responders and the leading innovators from the world, the event is the hub of the solutions
that provide attendees with tools that they can use to protect the communities and mitigate
the damage from disasters.
Tickets for the event are $119, but we have been given the promo code: HUGI100 that will
enable you to attend the event for FREE!

So don’t miss out and register today: https://shorturl.at/aikrW

And in case you missed it, here is our ultimate road trip playlist is the perfect mix of podcasts, and hidden gems that will keep you energized for the entire journey

-

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More