Defense Platforms and Systems Outlook

In 2024, defense expenditure across the globe will continue to rise, fueled by persistent geopolitical unrest, shifting domains of warfare, and heightened military modernization. Based on the 18.5% increase that was witnessed in 2023, the defense industry continues to be resilient, as countries place defense expenditures first to ward off emerging threats and provide strategic deterrence. The sector is more interested now in embedding leading-edge technologies like generative AI, cyber war capabilities, directed energy weapons, and hypersonic propulsion systems in order to achieve contemporary warfare requirements in air, land, sea, space, and cyber platforms.

Market leaders in the defense sector like Lockheed Martin, Northrop Grumman, RTX, BAE Systems, Thales, and Leonardo are making deeper investment in smart defense infrastructure, AI-based platforms, and multi-domain operations. These companies are aggressively developing their R&D pipelines and creating new collaborations with startups for speeding up innovation cycles. The startup ecosystem is thriving, with specialized players providing key software-defined solutions, space monitoring tools, and autonomous weapon systems. This convergence brings in agility and enables rapid deployment of modular and scalable defense architectures.

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Major Defense Platforms and Systems Outlook Companies Include:

• Northrop Grumman Corporation (US)
• BAE Systems (UK)
• Lockheed Martin Corporation (US)
• Rheinmetall AG (Germany)
• Oshkosh Corporation (US)
• Hanwha Defense (South Korea)

Major defense trends of 2024 are greater use of AI/ML technology, hypersonic platforms & countermeasures,  platform level cybersecurity

Hybrid warfare is influencing operational principles, prompting militaries to spend more on electronic warfare platforms and robust satellite communications networks. The global pivot toward manned-unmanned teaming, especially in aerial and naval combat scenarios, remains a cornerstone of future force design strategies.

The push for localized production and secure supply chains has gained momentum, particularly in Europe and Asia-Pacific. In response to regional conflicts and trade uncertainties, defense firms are setting up joint ventures and localized manufacturing units to reduce reliance on foreign suppliers. Countries like India, South Korea, and Poland are aggressively building up their defense industrial base to enable indigenous capability development.

Concurrently, space militarization is gaining momentum, with defense spending increasingly devoted to space domain awareness (SDA), launch-on-demand systems, and next-generation low earth orbit (LEO) satellite constellations. These are key to command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) operations. As threats in the space and cyber domains become increasingly complex, integrated deterrence strategies involving kinetic and non-kinetic assets will be key to sustaining operational superiority.

Key Trends of 2024 Analyzed in The Defense Industry Outlook:

• Artificial Intelligence & Machine Learning

Defense budgets are increasingly directed toward AI and ML to enhance decision-making, automate threat detection, optimize logistics, and power autonomous systems. These technologies enable faster data analysis across C4ISR systems, improving situational awareness and operational effectiveness.

• Hypersonic Platforms & Countermeasures

Significant investments are being made in hypersonic weapons capable of traveling at speeds above Mach 5, as well as in developing advanced countermeasures. Nations are prioritizing these systems to gain strategic superiority, prompting parallel spending on tracking and interception technologies.

• Platform Level Cybersecurity  

As defense platforms become more networked and software-dependent, cybersecurity is now integral to platform design. Spending is rising to secure weapon systems, vehicles, and communication networks from cyber threats, ensuring resilience against both state and non-state actors.

Key questions the study will answer are:

• What are the projected growth rates and key investment drivers in global defense spending for 2024?
• Which advanced technologies are reshaping modern defense strategies and procurement programs in 2024?
• What role is the space domain playing in shaping future combat and surveillance capabilities?
• How are major defense contractors adapting their business models to meet demand for faster, more agile, and scalable solutions?
• How are emerging threats influencing the development of autonomous and unmanned defense platforms?
• How are digital transformation initiatives enhancing operational readiness and lifecycle management within defense forces?

Related Reports:

Defense Platforms and Systems Outlook 2025: Emerging Technologies, Evolving Disruptions, Outlook and Growth Opportunities

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