US Defense Electronics Market To Explode

SPACEWAR

U.S. Defense Electronics Market
Set To Explode

lots of devices needed

Newtown - Feb 06, 2003
"The US Defense electronics market is in for stellar growth throughout the next ten years," said Richard Sterk, a Senior Defense Analyst with Forecast International, in citing the company's annual "Overview of the US Defense Electronics Market."

The Overview, available March 1, 2003, examines market trends and conditions for the years 2003 through 2012. According to the Forecast International Overview, the total US Defense Electronics Market will be worth more than $181 billion over the next decade.(*)

"Much of this is related to the cost of conducting the War on Terrorism," Sterk said, adding, "Two other contributing factors include the ongoing operations in Afghanistan and preparations for a possible military conflict with Iraq. The creation of a Homeland Defense department will also drive up the value of the defense electronics market through its massive need for immediate information technology."

In terms of projected sales and market share, Raytheon, BAE Systems, Lockheed Martin, Northrop Grumman, and Boeing will lead all US companies doing business in the US defense electronics market over the next decade.

Raytheon Company, forecast to generate some $23 billion in sales over the next ten years (12.68 percent of the projected market), will be the leading US defense electronics firm.

Through its BAE Systems North America subsidiary, BAE Systems places second with projected sales totaling $15.94 billion (8.8 percent of the projected market).

Lockheed Martin Corporation finishes third with ten-year sales expected to exceed $12.42 billion (6.86 percent of the projected market).

Coming in fourth is Northrop Grumman Corporation, which will collect some $8.96 billion in sales over the next decade (4.95 percent of the projected market).

The Boeing Company rounds out Forecast International's top five with sales projected to tally $7.41 billion (4.09 percent of the projected market).

"How quickly current R&D programs go from development to production to field use will be the determining factor in the overall growth of the US defense electronics market," said Sterk.

"Much of the money will begin to show up in the next few years with increased procurement of night vision, IR, and thermal imagery equipment. Additionally, the development of many reconnaissance and surveillance systems will likely be accelerated."

According to the Forecast International study, during the next ten years, the production lines, as well as R&D, will be running at full speed producing the latest high-tech equipment.

"For companies to benefit during this defense electronics boom, they must quickly organize and upgrade their capabilities to be able to offer the US the best technology it has," said Sterk.

"Yesterday's equipment is no longer good enough, nor is today's - the defense market is screaming for tomorrow's technology in order to become a more informed and lethal fighting force," added Sterk.

* (The Forecast International Overview projects the likely minimum value of the US Defense Electronics Market. Because some programs and systems are not available for examination -- classified programs, company-developed projects, and unknown forthcoming programs -- the true US Defense Electronics Market value will likely be much higher. )

SPACEWAR

Frenzy of Procurement Seen for U.S. Defense Electronics Market

Newtown - Feb. 15, 2001
"The next 10 years are definitely the decade of production and procurement for the U.S. defense electronics market," said Richard Sterk, Senior Military Electronics Analyst for Forecast International/DMS. "Based on current production alone, defense electronics is predicted to generate nearly $128 billion in forecast sales, averaging about $12 billion a year."

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