Future of the US Defense Industry, Market Attractiveness,Competitive Landscape and Forecasts to 2019

NEW YORK - Feb. 25, 2014 - PRLog -- Reportstack has announced a new market report on Future of the US Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019 (http://www.reportstack.com/product/150759/future-of-the-us-defense-industry-market-attractiveness-competitive-landscape-and-forecasts-to-2019.html) which offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the US defense industry. The US is currently the leading military superpower in the world and has undertaken well-defined measures towards investing in the defense sector to reinforce its position as the most militarily powerful nation in the world. With this objective, the US is embarking upon a nuclear defense modernization plan and missile defense program that is expected to drive defense expenditure. Additionally, the government is working on enhancing its command, control, computers, communications, and intelligence systems to increase inter-operability between various branches of the armed forces. The other major military powers in the world – China and Russia – have consistently increased their defense expenditures significantly over the last couple of years. These countries have also taken steps to upgrade their military hardware and facilities. While China is developing a new-generation intercontinental ballistic missile (ICBM) capable of destroying targets all across the world, Russia is also developing a heavy-liquid-fuel, non-nuclear, precision-guided payload capability for a new class of ICBMs, which would give Russia near-global coverage. Despite these measures adopted by China and Russia, the US remains determined to retain its military supremacy.

Over the last couple of years, the US has faced a number of terrorist attacks and this has propelled of the DHS to undertake measures to counter any terrorist attacks and ensure adequate protection. The DHS’s counterterrorism responsibilities focus on preventing the unauthorized acquisition, importation, movement, or use of chemical, biological, radiological, and nuclear (CBRN) materials and capabilities within the United States. The department is also engaged in protecting the vital infrastructure and key resources of the country and identifying any events that might lead to terrorist attacks and other hazardous movements within the nation. The Boston Marathon bombings and the Los Angeles International Airport shooting have reinforced the need for counter terrorism measures and the country is expected to increase fund allocations for this purpose. As part of the 2014 budget, the DHS increased funding for research and development to address CBRN threats and undertaking the construction of a bio-containment facility, NBAF. Other significant fund allocations under this budget are for TSA Pre (security initiative for safeguarding the nation’s transportation systems), Securing the Cities (STC) program, and intelligence and targeting programs.

The US has a highly developed defense industry that is capable of fulfilling the majority of domestic military requirements, and the nation is also the largest global exporter of defense equipment due to its highly advanced defense industrial base. Despite this, the US has become increasingly open to importing arms goods from foreign defense equipment suppliers in the UK and Canada, and consequently, arms imports registered a steady increase during the review period; the majority of imports consist of subsystems and components for aircraft and armored vehicles. Despite the global economic slowdown, US defense exports continued to grow that year; the largest consumers of US defense goods during 2008-2012 were South Korea, Australia, and the UAE. While the country exports all types of defense equipment, the majority consists of fighter aircraft, missile defense systems, armored vehicles, engines, and sensors.

The companies mentioned in this report are Lockheed Martin, Raytheon , General Dynamics, Boeing, L-3 Communications, Northrop Grumman, Science Application International ,Honeywell International ,Sikorsky Aircraft. Please visit US Defence Industry (http://www.reportstack.com/product/150759/future-of-the-u...) report for more details.

Related Reports:

The US Defense Industry - Market Entry Strategy to 2018: Market Profile (http://www.reportstack.com/product/145624/the-us-defense-...)
The US Defense Industry - Procurement Market Dynamics to 2018: Market Profile (http://www.reportstack.com/product/145625/the-us-defense-...)