U.S. Defense Electronics Market Projected to Grow, Driven by World Events and Politics
NEWTOWN, Conn., March 12, 2018 (GLOBE NEWSWIRE) — While running for office, U.S. President Donald Trump promised to eliminate sequestration and increase defense spending, causing a surge in defense stocks a day after the election. He also called for increased offensive and defensive cyber capabilities, and plans to launch a thorough review of U.S. cyber defenses to identify vulnerabilities. Forecast International projects that the U.S. defense electronics market will be worth at least $140.386 billion over the timeframe 2018-2027.
“The amazing breakthroughs in technology seem to be approaching the point of achieving a science fiction-like reality. This rapid advancement could in part be due to tighter budgets that are producing wiser spending. The U.S. Department of Defense seems to be investing more heavily in defense electronics with each passing year,” said Richard Sterk, Senior Analyst and editor of Forecast International’s yearly analysis “The Market for U.S. Defense Electronics.”
Forecast International’s projections are the result of a review and analysis of 500+ leading defense electronics programs. Based on the results of FI’s modeling, the top defense electronics companies in the U.S. market continue to draw from the upper echelons of corporate America. The top five are: Northrop Grumman, Lockheed Martin, Raytheon, Harris, and BAE Systems.
“The U.S. defense electronics market continues showing signs of strength and growth,” says Sterk. “The focus of the U.S. defense electronics industry is on enhancing, modernizing, and upgrading existing systems while at the same time developing new technologies, but such dual efforts remain hampered by tight budgets. Militaries are having a difficult enough time getting funding for required items, much less for pipedream acquisitions based on advanced concept development.” he added, “No one is willing to risk the limited money available to flesh out a new and unproven idea. The U.S. DoD is becoming a smarter consumer and using its limited financial resources wisely.”
Programs forecast to be market leaders over the coming decade include the APG-81 AESA radar for F-35 aircraft; the ICNIA (Integrated Communications, Navigation, Identification, Avionics) system that will integrate aircraft avionics for the F-22 and the F-35 Joint Strike Fighter; the APG-68 pulse-Doppler fire control radar for the F-16; the AAQ-33 Sniper Advanced Targeting Pod; the ALQ-210 situational awareness and threat warning system; the VUIT-2 video system; the SPY-6 Air and Missile Defense Radar (AMDR) to be installed aboard aircraft carriers and destroyers; the AQS-20 minehunting sonar and AQS-22 ALFS (Airborne Low Frequency Sonar) naval systems; the Navy Multi-band Terminal C4I system; the PRC-150 and PRC-152 combat radios; the Bowman radio; and the Warfighter Information Network-Tactical (WIN‑T).
About Forecast International
Forecast International, Inc. is a leading provider of Market Intelligence and Consulting in the areas of aerospace, defense, power systems and military electronics. Based in Newtown, Conn., USA, the company specializes in long-range industry forecasts and market assessments used by strategic planners, marketing professionals, military organizations, and governments worldwide. Forecast International also maintains a high posture of situational awareness and geopolitical analysis.
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