European defense market will grow as it emphasizes regional cooperation, minimizes duplication, study says
LONDON. The European defense market will see significant growth opportunities as countries reduce duplication of efforts, minimize costs. and maximize operational efficiency, according to a recent Frost & Sullivan analysis, "An Overview of European National Defence Strategies, 2018."
As we do in every September issue, we give an overview on the defense market from the perspective of industry analysts. We also take a closer look at how the military electronics community manages the obsolescence headaches that come with using commercial off-the-shelf (COTS) technology. Never have these two subjects gone more hand-in-hand than they [...]
The military and defense community struggles with the issue of obsolescence as it works to accept new designs for COTS products. This environment requires suppliers, especially smaller ones, to innovate or die. But the outlook is not bleak for companies that are able to produce products with high value to the defense market. In an era of declining budgets, service-life extension of systems is critical to maintaining the operational availability of every ship and aircraft.