Forecast International: Recapping Global Defense Spending for 2017, Eyeing Future Growth

NEWTOWN, Conn., Feb. 05, 2018 -- The first annual Global Defense Snapshot by Forecast International's International Military Market (IMM) group indicates continued growth in the worldwide market following relatively flat investment over the course of the 2015-2016 period. An increasingly multi-polar global security environment buffeted by healthy economies and ongoing military modernization cycles contributed to a 3.3 percent year-on-year rise in consolidated worldwide defense spending for 2017.

The consolidated worldwide defense spending figure combines spending from over 120 nations across the world, capturing 99.92 percent of the estimated figure for total global expenditure.

As the market shifts into 2018 and the years ahead, Forecast International anticipates accelerating spending growth as geopolitical pressure points and future threats reinforce government investment in military and security requirements. While 2017 marked a healthy spike in market growth, topline worldwide spending remained below the 2014 threshold of $1.526 trillion. This latter figure will be surpassed in 2018, with the $1.6 trillion ceiling being broken by 2020.

Primary national drivers of future spending growth will come from China, India, Saudi Arabia, Iran, South Korea, Germany, the UAE and the United States, with many smaller markets undergoing their own respective military modernization drives that will spike national spending.

Forecast International figures are derived from topline defense totals country-by-country, excluding pension funding wherever applicable. The International Military Markets catalog spans the globe, covering all the world's regions and major and mid-tier military markets.

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About Forecast International

Forecast International, Inc. is a leading provider of Market Intelligence and Consulting in the areas of aerospace, defense, power systems and military electronics. Based in Newtown, Conn., USA, the company specializes in long-range industry forecasts and market assessments used by strategic planners, marketing professionals, military organizations, and governments worldwide. Forecast International also maintains a high posture of situational awareness and geopolitical analysis. 

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Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6f27bc28-b6d2-46d7-8d29-9fee4f1e7cee

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/95ecb095-f471-4075-ba6e-88aa0eb4a161

Ray Peterson
Forecast International
203 426-0800
[email protected]