Press Release
Contact: Richard Sterk, Sr. Aerospace and Defense
Analyst
Phone: (203) 426-0800
Fax: (203) 426-4262
Web site: www.forecastinternational.com
E-mail: @forecast1.com
Forecast International, Inc.
22 Commerce Rd. Newtown, CT 06470 USA
FOR IMMEDIATE RELEASE
Market Not Down, Just Back to Normal
NEWTOWN, Conn. [February 11, 2008] ― Forecast
International’s 2008 “Overview of the U.S. Defense Electronics Market”
forecasts that this market that will be worth at least $102.6 billion from
2008-2017. On an annualized basis, the market shows a steady decline over the
next 10 years, from a high of $15.050 billion in 2008 to $6.683 billion in
2017. This represents a 10-year drop of approximately $8.366 billion, or
55.591 percent from the market high.
“The long-predicted post-9/11 market correction is now in
effect,” says Richard Sterk, Senior Analyst at Forecast International. “The
drawdown in American defense electronics spending has started.”
In strong demand are technology and systems to counter and
defeat an unconventional enemy using unconventional weapons such as
electronically detonated improvised explosive devices (IEDs) made from commonly
available electronics appliances. “This favorite weapon of insurgents and terrorists
has resulted in the funneling of some long-neglected funding back into the
electronic warfare segment,” said Sterk.
The top five defense electronics companies in the U.S. continue
to draw from the upper echelons of corporate America. As determined by the
sampling within this study, the top five are Raytheon, Northrop Grumman,
Lockheed Martin, General Dynamics, and ITT.
“If anything, one may see a somewhat underfunded market for
a years,” said Sterk, explaining this correction as a budgetary necessity to
make up for the rushed spending and borrowed funding that followed the 9/11 terrorist
attacks. The majority of these rushed programs have now run their course, and
the defense electronics market is reverting to a pre-9/11 environment.
Forecast International, Inc., is
a leading provider of Market Intelligence and Analysis in the areas of
aerospace, defense, power systems and military electronics. Based in Newtown,
Conn., USA, Forecast International specializes in long-range industry
forecasts and market assessments used by strategic planners, marketing
professionals, military organizations, and governments worldwide. To
arrange an interview with Forecast International’s editors, please contact Ray
Peterson, Vice President, Research & Editorial Services (203-426-0800, ray.peterson@forecast1.com).
