Research and Markets: US Defense Spending to Reach $798B by 2022

A new Research and Markets report predicts that U.S. spending on defense programs will grow 5.7 percent year-over-year to reach nearly $798 billion by 2022.

The U.S. spent about $586.7 billion on defense during 2017 and is projected to have the largest defense expenditure in the world over the next four years, Research and Markets said Wednesday.

The report also forecasts the U.S. homeland security budget will climb to $87 billion in 2022 at a 5.5 percent compound annual growth rate.

Growth in homeland security funding will be driven by counterterrorism, border protection, immigration security, cybersecurity and disaster resilience efforts.

U.S. was the largest defense exporter worldwide during the 2012 to 2016 period and will likely maintain its lead over the forecast period, largely due to the increase in the defense budgets of U.S. arms buyers such as Australia, India, Saudi Arabia, Turkey, Taiwan and others.

The report features defense companies including Boeing, General Dynamics, L3 Technologies, Lockheed Martin, Northrop Grumman, Raytheon and Science Application International Corp.

You may also be interested in...

NEXT-C Johns Hopkins APL photo

Johns Hopkins APL Helps Equip DART Spacecraft With NASA-Made Propulsion Tech

Johns Hopkins University Applied Physics Laboratory has incorporated a propulsion technology built by NASA into a spacecraft designed to support the agency's demonstration of its first planetary defense capability.

CompTIA

CompTIA Receives DoD OK for Penetration Testing Certification

The Department of Defense has approved a CompTIA certification exam designed to measure cybersecurity skills necessary to conduct penetration testing and manage vulnerabilities in an information technology system.

50W Ka-band BUC

Gilat Subsidiary to Deliver Ka-Band Block Upconverter for Military Comms Program

Gilat Satellite Networks' Wavestream subsidiary has secured a delivery order of an undisclosed sum to provide a high-power 50-watt Ka-band block upconverter in support of a U.S. military communications program.