The technological superiority of the US armed forces is faced with the rapid development of potential adversaries. To get ahead in the race, the US Department of Defence is expected to spend approximately $ 481 billion between 2018 and 2024 for technological advances. Frost & Sullivan, which has been conducting market research for investors and corporate firms by examining the sector, has made a study in the defence policy of the USA that touches on technology instead.
According to the most recent Defence budget (FY2021), combined spending on research, development, testing, and evaluation (RDT&E) for over 1,100 programs by defence-wide organizations is estimated to reach $106.56 billion
The study stated that innovative technological concepts such as artificial intelligence, autonomous vehicle, robot, cybersecurity, UAV technology and hypersonic were important in the defence market. Companies operating in this sector should explore the following opportunities to cultivate growth:
– Firms, technology and software need to be ready to partner with patent owners.
– To keep their old systems up-to-date and indispensable, companies must continue to invest in their own research and development efforts.
– Companies need to plan how to integrate innovative technologies such as artificial intelligence and machine learning into the defence industry.
