Defense Spending Analysis Market Worth $1,748.46 Billion by 2020 – New Report by MarketsandMarkets

(PRWEB) February 21, 2015

Defense spending is estimated to be $ 1,160.58 Billion in 2014, and is expected to grow at a CAGR of 7.07%, for the next five years.

However, pertaining to their secrecy issues both nations have never completely disclosed their future plans for defense spending. In this report, the figures for Saudi Arabia, which holds the fourth position with regards to defense spending, also include the nation’s capital expenditure in the three platforms.

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The western countries’ defense budget has seen a substantial decline, in the recent years. This has resulted in reduced army capabilities such as fewer military personnel, lesser weapon systems, and delayed modernization. However, increased productivity in defense is leading to increased cost savings, while also securing the combat power of the country. Factors such as the shift to high-tech conventional warfare tactics, rapid adoption rate of advanced technologies, and protection against cybercrimes is expected to drive the defense spending by the U.S.

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About MarketsandMarkets



MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.



MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, Aerospace & Defence, and telecommunications and IT.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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