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Despite Iraq War, Military Electronics Spending Is Slow
March 5, 2007 |Estimated reading time: Less than a minute
LOS ALTOS, Calif. The U.S. is expected to curb spending on military electronics over 2007 and 2008, with military budgets primarily focused on non-electronic sectors, such as ammunition, military pay, and operations and maintenance, says a forecast released by Henderson Ventures, excerpted from the company's "Electronic Market Forecast." Military electronics opportunities lie in R&D and test and evaluation (RDT&E) sectors within the military, as well as the procurement budget, and neither indicates strong growth in the electronics field.
Procurement will grow 16.2% in 2007, but will topple down to 6.3% in 2008. Growth for electronics production in the military industry will equal 9.5% this year, falling to 2.3% in 2008. The RDT&E area faces a recession in 2008, declining 2.1%, after four years of steadily slowing growth. The research group explained that defense budgets will be trimmed significantly due to political shifts surrounding the Iraq War.