The Singaporean Defense Industry
Bharatbook.com introduces a report ” The Singaporean Defense Industry: Market provides detailed analysis of both historic and forecast defense industry
Product Synopsis
This report is the result of ICD Research / Strategic Defence Intelligence’s extensive market and company research covering the Singaporean defense industry. It provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Singaporean Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017 offers the reader insights into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Singaporean defense industry. http://www.bharatbook.com/market-research-reports/defense-market-research-report/the-singaporean-defense-industry-market-opportunities-and-entry-strategies-analyses-and-forecasts-to-2017.html
What is the current market landscape and what is changing?
Singapore is the largest defense spender in South East Asia, and is among the world’s ten leading arms importers. Singapore’s small population results in a small but well-equipped army whose technological capabilities are constantly upgraded in order to compensate for its relatively small size, and to ensure that the country is adequately defended. In 2012 the country allocated 24.5% of its budget for defense expenditure and the majority of this was allocated to equipment procurement. During the review period, Singapore’s defense expenditure was equal to an average 3.8% of GDP, and it is expected to register a marginal decrease to an average 3.7% over the forecast period. What are the key drivers behind recent market changes? During the forecast period, Singapore is expected to spend US$56.5 billion on defense. The country’s defense expenditure is high due to threats posed by terrorist organizations, pirates, and the small size and costly training needs of the country’s army. These factors require the government to acquire advanced weaponry in order to protect against existing and potential security threats. Singapore is a small and densely populated island and therefore a relatively small terrorist attack could cause significant damage to the country. The threat posed by terrorist organizations therefore forces the Singaporean Government to invest heavily in defense procurements.
Market Analysis
Key Highlights
Singapore to spend US$56.5 billion on defense by 2017
In 2012, Singapore’s defense expenditure is estimated to be US$9.8 billion. During the review period, the country’s defense budget registered a CAGR of 6.4% and, over the forecast period, it is expected to record a CAGR of 3.4% to reach US$12.1 billion by 2017. The Singaporean government is expected to spend a total of US$56.5 billion on defense during the forecast period, of which US$37.6 billion is expected to be spent on procurement. Majority of defense budget allocated for the acquisition of advanced technology and equipment During the review period, the country’s capital expenditure recorded a CAGR of 6.4%, reaching an estimated US$6.53 billion in 2012. It is expected to record a CAGR of 3.4% over the forecast period, reaching US$7.99 billion in 2017.
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The Singaporean Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
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