The defense and security industry has seen such a vast change in many aspects throughout time. The most defining factor of change has been terrorism. A lot of evidence suggests that terrorism is linked to a negative effect on economic welfare, making new technologies, methods and concepts a crucial part when it comes to defense and security. Post-9/11, we saw a justified yet drastic increase in military budgets. America’s military spending was more than the most powerful countries (e.g. China) military budget, because of the “Global War on Terror.”
The defense and security industry has had to evolve drastically to meet a new level of government standards, meaning that high standard has become procedure, leading to deterioration in many major markets. Finding new ways to advance and widen opportunity has never been more in demand.
Recently, defense industry leaders have clearly stated their different opinions concerning where the industry is going and how to change business techniques parallel to the ever changing need for the industry. There is certainly a shift from a performance focus to finding more affordable approaches, methods and products.
Saying this, there is still a need for solid defense and security with unsettled local or regional relationships. A border can embody a drastic cultural contrast and that has been highlighted by the recent sectarian violence in places like Syria. The future is becoming less predictable but we must be prepared.
The defense and security industry is valuable, but budgets are decreasing drastically, especially in Europe. But advances have increased and there have never been more innovative and creative ideas, and linking that with the constant, yet erratic risk of war and terrorism, we arrive at an unclear yet assured future.