Global defense spending rose 9.4% year-over-year to $2.7 trillion in 2024 — the fastest annual increase since the end of the Cold War. Spending is projected to grow at a 5% annualized rate, reaching $3.6 trillion by 2030.¹

Future-proofing advanced military systems is a top priority for governments, requiring specialized software and hardware—including sensors, AI chips, and high-performance processing and networking solutions.

Defense tech spans sectors such as industrials, cybersecurity, AI, and drone systems. Unlike civilian markets, defense revenues are driven by strategic military priorities rather than economic cycles.