Research and Markets: Weapons Modernization Efforts to Drive US Military Expenditure

A new Research and Markets report forecasts the U.S. military expenditure to reach $597 billion by 2020 from $560 billion in 2015, driven by the government’s efforts to retain military dominance through weapons modernization.

The market analysis sets a 0.51 percent compound annual growth rate for U.S. military spending over the forecast period, noting that expenditure declined by 4.98 percent from 2011 to 2015, the market research firm said Wednesday.

The report highlights the nation’s procurement schedules and breaks down budget allocation for the U.S. Army, Navy and Air Force.

The report also examines trends in the country’s import and export activities over the last five years, as well as investment opportunities through next decade.

Among the key market vendors mentioned include Bell Helicopter Textron, Boeing, General Dynamics, General Electric Aviation, Honeywell, L-3 Communications, Lockheed Martin, Northrop Grumman, Raytheon, Science Application International, Sikorsky Aircraft and Textron Marine and Land Systems.