The global defence industry is experiencing a period of significant transformation. Driven by rising global tensions, a focus on national security, and growing investor confidence, the sector is expecting significant growth in the next few years.
Global defense spend have seen a significant rise, global spending increasing to a record $2.2 trillion last year. This growth is concentrated amongst a number of nations, with the US, China, Russia, India, and Saudi Arabia accounting for 63% of global military spending.
In response to the ongoing conflict between Ukraine and Russia, Germany has also committed to a substantial defense budget increase, signaling significant growth prospects for the defense industry in Europe.
Innovation is at the forefront of modern defense strategies. Here are some of the developments poised to impact the defense sector in 2024:
For purchasing professionals, partnering with Lantek Corporation means having a reliable ally in your supply chain. As the defence industry continues to grow, rely on us to provide the components that power your innovations, keeping your projects on schedule and to specification.
Disclaimer: This blog post is for informational purposes only and should not be taken as political commentary.
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More