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Top Markets Series: Defense Products
Click to download the full reportThe United States continued to dominate global defense spending in 2015 with 36 percent of total world military spending, but this was a reduction from previous years, causing U.S. industry to face fiscal tightening domestically. European countries are responding to regional instability by reversing defense cuts for 2016. Overall global defense spending increased for the first time in five years, to roughly $1.68 trillion in 2015, and is projected to maintain this momentum in 2016 due to national security concerns in many regions. Feared aggression from Russia, China and North Korea, combined with increased conflict in the Middle East and global terrorism, will drive defense spending, leading to global market opportunities for U.S. defense exporters.
This Report highlights opportunities for U.S. defense companies to further develop and promote global exports and uncover strategic growth markets. This report provides key trade statistics and trends in the defense sector as well as general challenges and opportunities by region, country and product groupings. Additionally, this report provides exporters with a general assessment of selected markets by providing regional and country case studies.
The lead author of this report is Laurie Hays, an international trade specialist on the Aerospace Team in the U.S. Department of Commerce's International Trade Administration. A note of thanks goes to Kim Wells, Aerospace Team Leader, and Scott Kennedy, Director of the Office of Transportation and Machinery, for their support and to the Commercial Service officers and specialists in several countries across the globe for their insight and contributions.
This report is part of the Top Markets Series. Each report ranks future export opportunities within a particular industry based on a sector-specific methodology.
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