PHOENIX Ariz., - There's a lot going on in our world today. According to the latest forecasts, the economic situation is slowing down. The big guys in the technology sphere are trying to figure out what the “next big thing” is, since the PC, cellphone, flat-screen TV, and auto markets are all saturated. In the military segment, the latest budget requests are delivering confusing information about future contracts and technologies as military spending shifts from chasing terrorists in deteriorating Middle Eastern countries, to preparing for war against near-peer adversaries like China and Russia, writes VITA board chairman Ray Alderman in the 2019 State of the VITA Tectnology Industry.
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The Intelligent Aerospace take:
May 2, 2019-"Political instability leads to economic instability, and we have plenty of both," says Alderman in his report. The chair of the VITA board notes that numerous world leaders are under investigation or have resigned and economic growth has slowed, which Alderman says will impact NATO, which he notes is not in a position to fight Russia, with the exception of the U.S. and the U.K.
There is some good news for the VITA community, however, as Alderman notes the U.S. military and others are spending money to develop and modernize cutting-edge systems.
"Understand that money is flowing like water into new technologies, platforms, and weapon systems. It’s just hard to see which ones will go into full scale production and deployment," writes Alderman.
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Jamie Whitney, Associate Editor
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