In 2024, the aerospace and defense industries significantly boosted their real estate acquisitions, leasing 11.3 million square feet compared to 7.1 million in 2022. The rise in demand for industrial space, as highlighted by JLL's Tom Taylor, reflects the urgency for facilities equipped for manufacturing advanced weaponry and drones due to escalating global tensions. The Department of Defense has seen its budget reach over $841 billion, leading to increased investment in innovative defense technologies. Consequently, new opportunities arise for tech start-ups in the defense sector, enabling faster deployment of advanced systems like drones.
The leased spaces typically have large open-floor plans for machinery and manufacturing, high ceilings for cranes and special assembly gear, sterile and air-filtered rooms, and lots of power.
Defense Secretary Pete Hegseth wants to cut 8 percent from defense budgets in each of the next five years, prioritizing spending on drones and autonomous weapon systems.
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