William (Bill) Patalon III is the Executive Editor and Senior Research Analyst for Money Morning. Before he moved into the investment-research business in December 2005, Bill spent 22 years as a journalist, most of it covering financial news as a reporter, columnist, and editor that included stints withGannett Co. Inc., and The Baltimore Sun.
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We’ve been talking about the defense “supercycle” of spending – set to last for at least a decade – that’s only just beginning to ramp up. But there’s one segment in this broad category that’s already seeing huge amounts of increased spending.
Now, time was, this sector was more science fiction than actual, deployable technology. But an increase in computing speeds and a renewed focus on deploying “smart” technology means that this industry is actually in a supercycle inside a supercycle.
In fact, online research firm MarketsandMarkets projects that the $420 million market in 2014 will explode in the next five years to $5 billion – that’s a CAGR of nearly 54% for the next five years.
Another study by techemergence.com anticipates an $8.3 trillion market by 2035 in the U.S. alone.
From $420 million to $8.3 trillion in just 20 years… Much of that windfall will come from one whale of a customer: the United States government.
Tags: Technology Article
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