Military Logistics Market Analysis, Growth, Trends
Posted by Nita on November 29th, 2021
Military Logistics Market is projected to be valued at USD 475.74 Billion by 2025, expanding at a CAGR approximately over 5% between 2019 and 2025.
The market witnessed significant traction in recent years owing to the growing terrorist attacks, territorial conflicts, and cross border crimes that have necessitated the construction and maintenance of military bases and border infrastructure, which is estimated to boost spending on military logistics and infrastructure. Furthermore, investments towards modernizing existing logistics channels is also expected to positively impact the market growth.
Technological advancements such as real-time tracking for increased visibility of logistics is opening up new opportunities for key players operating in the market.
Growth Opportunities in the Market
- Dominance of logistics & distribution in the market: The logistics & distribution segment dominated the global military logistics market in 2018 and this trend is expected to continue during the forecast period. The segment accounted for over 35% of the global market. Infrastructure up-gradation undertaken by militaries in countries including the US, China, and Germany among others is expected to drive segmental growth during the forecast period. Moreover, the implementation of technologies such as the Internet is Things (IoT) in logistics for real-time tracking is expected to further encourage the segment growth.
- Roadways expected to lead the mode of transportation segment: The roadways segment was the largest segment in 2018 and was valued at approximately USD 133.20 billion. The higher reliability offered by road logistics mainly during transportation of military-grade or sensitive cargo, is expected to positively influence the segmental growth. Moreover, higher connectivity through roadways is further expected to drive the market growth during the forecast period.
- AECOM (US)
- Anham FZCO (UAE)
- ASELSAN A.S. (Turkey)
- BAE Systems plc (UK)
- DynCorp International LLC (US)
- Fluor Corporation (US)
- Honeywell International, Inc. (US)
- KBR, Inc. (US)
- Lockheed Martin Corporation (US)
- Thales Group (France)
Access Report Details @ https://www.marketresearchfuture.com/reports/military-logistics-market-8514