Defence Contracts International (DCI) hosts the largest defence tenders database in Europe. DCI’s defence tenders are not only available from the MOD in the UK but also span the continents of the globe. The international defence market is increasingly becoming a source of lucrative business growth opportunities, with governments internationally set to increase their defence spending in 2020.
This upcoming period of predicted defence growth and investment is good news for suppliers looking to expand their business into international markets. We delve into the latest ‘2020 Global Aerospace and Defence Industry Outlook’ to show businesses why international defence tenders should be your next target, with the support of DCI.
Defence expenditure is expected to boom
Unlike some other sectors, the defence sector has sustained growth throughout 2019 and is set to develop further as global security threats and political tensions increase. During 2020 global defence expenditure is expected to grow by 3-4% to reach an estimated upper figure of US$1.9 trillion, with some market forecasts predicting even higher percentage increases. Governments will continue to modernise and recapitalise their militaries, bases and security equipment – this includes large nations such as China, Russia and India, as well as the USA which remains the primary driver of growth.
Elsewhere, in Europe, NATO countries (including the UK) are increasing their defence budgets to attain or even exceed their minimum defence spending target of 2% of GDP, a requirement for NATO members. Statistics such as these show the global defence market is robust and lucrative going into the new decade, with a huge number of opportunities for potential suppliers and their supply chains.
Growth in the global aerospace and defence industry
Although the commercial aerospace sector has declined in recent years due to production-related issues in certain aircraft models, the sector is set to recuperate from 2020 onwards as the long-term demand for commercial aircraft goes from strength to strength. Nearly 40,000 aircraft units are expected to be produced over the next two decades. Significant developments in the space domain are also set to take off in the years to come, with an increased focus on modernisation of military space missions and increased investments in research, technology and commercial services to improve military capabilities.
This is a remarkably innovative and exciting market for potential defence suppliers, and DCI regularly posts tender opportunities in this growing sector.
Find defence opportunities with DCI
DCI publishes defence tenders from across the globe:
- North America
- South America
- Middle East
Using defence intelligence to support your business, your organisation will have access to powerful tools including contract alerts, bid manager solutions, archive data and frameworks, to streamline your procurement strategy and help you make smarter business growth decisions.