The defense sector showed high growth rates over the previous year, with defense budgets increasing significantly. With the onset of a new decade, governments and contractors look to modern advancements in technologies that can outshine the previous achievements in the defense sector. The increasing security threats have resulted in governments worldwide increase their defense budgets. Experts suggest that the defense expenditure could grow by three to four percent in 2020, reaching figures of USD 1.9 trillion, as governments across the globe continue to modernize and recapitalize their militaries.
Like all other industries, the defense manufacturing sector has also been highly influenced by Augmented and Virtual Reality (AR & VR) technologies. As an industry that requires severe training of professionals, gaming has played a significant part in the process of training and simulations. Also, AR & VR technologies can make field soldiers more effective through the use of equipment such as wearable glasses and headsets. Data transmitted from these devices can be overlaid onto a battlefield, providing soldiers with mapping information, movement markers, and more.
Over the last few years, every sector has been leveraging the benefits of the Internet of Things (IoT) technology, including the defense industry. As an industry where split-second decisions can lead to dire consequences, IoT devices offer unprecedented advantages like never before. Sensors embedded on a soldier’s suit, helmet, and other equipment could capture biometric data, contextual information, and even details on the soldier’s physical and mental state. This increases the lethality of the soldier and also increases the chances of survival.
In an attempt to help our readers navigate through the rapidly transforming field of defense manufacturing, we have compiled a list of the most promising defense manufacturing firms in the industry. We present Aerospace & Defense Manufacturing Review’s ‘Top 10 Defense Manufacturing Companies - 2020’