Defence Equipment Packaging Market – Industry Shares, Market Strategies And Key Players

The global defence industry has undergone significant transformation in the past few decades. The dynamic nature of the defence industry can be determined from the fact that defence electronics become obsolete in a matter of years. Defence electronics comprises all the sophisticated systems integrated with tactical equipment. It is anticipated that the advent of modern technology, coupled with rapid progress of R&D teams across the globe, will ensure a largely positive outlook for growth of the global Defence Equipment Packaging market, over the forecast period.

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Defence equipment being highly delicate and sophisticated, requires efficient packaging solutions, which can handle stresses and impact of hard environments. Many countries, such as India, and China, have been increasing their defence budgets by leaps and bounds, in the past decade. In a period of ten years, during the period 2006-2016, the Indian defence budget increased by US$ 18 Bn. India has continued to be the top importer of defence equipment in the past couple of years.

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The global Defence Equipment Packaging market is expected to witness strong growth in 2017. Although the global defence electronic market growth has been suppressed in the past couple of years, the industry has continued to grow consistently. Across the globe, governments have been equipping their armed forces with advanced defence weapon platforms integrated with modern electronic warfare systems, which includes next-generation technologies, such as software for precision/surgical strike capabilities, cyber security and warfare, and intelligent gathering by means of drones.

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This is attributed to a heightened state of alarm due to the rise of rogue terrorist organizations in the Middle East, and other similar organizations scattered across the globe. Amidst the turmoil, the world has witnessed high defence equipment procurement by several countries in the wake of threats to national security. Therefore, this arms race and the need to stay prepared to counter any threats, is expected to bolster growth of the global defence electronics market, which in turn, will positively impact growth of the global Defence Equipment Packaging market.

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