Report: Global military infrastructure and logistics market to witness stable growth
The global military infrastructure and logistics market is anticipated to reach $51.8bn by 2027, marking a compound annual growth rate (CAGR) of 3.21%, according to a report by Strategic Defence Intelligence (SDI).
The global military infrastructure and logistics market is anticipated to reach $51.8bn by 2027, marking a compound annual growth rate (CAGR) of 3.21%, according to a report by Strategic Defence Intelligence (SDI).
Titled ‘The Global Military Infrastructure and Logistics Market 2017-2027’, the report estimates the cumulative global expenditure on military infrastructure and logistics over the forecast period to be $484.4bn.
Valued at $37.8bn in 2017, the military infrastructure and logistics market is dominated by the Asia Pacific region with a share of 33.4%, followed by North America and Europe with 23.5% and 22%, respectively.
"Territorial disputes, regional rivalries and growing terrorist attacks are the major factors that stimulate the investment in military infrastructure and logistics industry globally."
The market is categorised into infrastructure construction, facilities management, and central logistics segments. The first of these accounts for 47.1% of the market, while the latter two have shares of 31.8% and 21.1% respectively.
The industry is expected to be driven by military logistics modernisation initiatives undertaken by the US, China, India, Brazil, Chile, Venezuela and Colombia, as well as efforts against cross-border crimes and widespread narco-terrorism.
Territorial disputes, regional rivalries and growing terrorist attacks are the major factors that stimulate the investment in military infrastructure and logistics industry globally, according to the report.