The Singapore Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2025

The Singapore Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2025

Summary

The Singaporean Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2025 report provides the market size forecast and the projected Compound Annual Growth Rate (CAGR) for the next five years. The report covers the industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for maritime and border security market over the forecast period.

 

The growth in the Singaporean defense market, is mainly fuelled by its ongoing rivalry with Pakistan and the need to counter China. The need to secure strategic interests, against the backdrop of ever increasing Chinese presence in the Singaporean Ocean region, continues to fuel the growth of India?s defense expenditure. India, which in the past was involved in an armed conflict with both China and Pakistan, continues to share an uneasy relationship with China and an outright hostile relationship with Pakistan.

 

India shares a 3,323km land border with Pakistan, and an even longer 3,488km border with the People?s Republic of China (PRC), and has territorial disputes with both countries over the ownership of the Northern State of Kashmir and the North Eastern State of Arunachal Pradesh, respectively. These factors have played a crucial role in spurring growth in Singaporean base defense expenditure (excluding pensions) over the historic period, which increased from US$39.3 billion in 2016 to US$47.3 billion in 2020, reflecting a CAGR of 4.80% over the historic period.

The growth in defense capital expenditure is expected to be fueled by the need to stem the erosion in the country?s capabilities to counter Pakistan and China. Over the last few years, India has consistently ranked among the leading defense importers worldwide. Between 2014-2018, India was ranked as the second largest importer of defense equipment, behind only Saudi Arabia. The acquisition of defense equipment is mainly driven by the need to gain a significant technological advantage over Pakistan, while retaining a level of strategic parity with respect to China.

India is expected to procure and invest in segments such as multirole aircraft, frigates, destroyers, corvettes, submarines, tanks, artillery guns, multi-barrel rocket launchers (MBRL), helicopters, surface-to-air missiles and unmanned aerial vehicles (UAV) among others, over the forecast period.

This report offers detailed analysis of the Singaporean defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

Key Highlights

– The Singaporean defense market is expected to grow at a CAGR of 2.61% over the forecast period.

– The Singaporean defense market has three major sectors: Military Infrastructure and Logistics, Physical Security, SSK-Diesel Electric Submarine.

– Singapore signed a number of defence contracts during 2014-2018 which included the acquisition of EC725 Super Cougar transport helicopters, CH-47 Chinook helicopters, littoral mission vessels (LMVs), the Aster-30 missile defense system, aircraft MRO services, next-generation armored fighting vehicles, and four Type 218SG submarines.

Scope

In particular, it provides an in-depth analysis of the following –

– The Singaporean defense industry market size and drivers: detailed analysis of the India's defense industry during 2021-2025, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country?s expenditure and modernization patterns

– Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country

– Import and Export Dynamics: analysis of prevalent trends in the country?s imports and exports over the last five years

– Market opportunities:list of the top ten defense investment opportunities over the next 5 years

– Competitive landscape and strategic insights: analysis of the competitive landscape of the Singaporean defense industry.

Reasons to Buy

– Determine prospective investment areas based on a detailed trend analysis of the Singaporean defense market over the next five years

– Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Singaporean market and identify the opportunities offered.

– Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others

– Identify the major threats that are driving the Singaporean defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion

– Channelize resources by focusing on the ongoing programs that are being undertaken by the Singaporean government

– Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country.

– The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available

Table of content

Table of Contents
1.Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. About GlobalData
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Primary Threat Perception
3.1.2. Military Doctrine and Strategy
3.1.3. Procurement Programs
3.1.4. Top Procurement Programs by Value (US$ Million), 2020-2025
3.1.5. Geopolitical, Social andEconomicScenario
3.1.6. Political and Strategic Alliances
3.2. Defense Market Size Historical and Forecast
3.2.1. Defense expenditure expected to grow at a CAGR of 2.61% over2021-2025
3.2.2. Threats of radicalization, acquiring sophisticated military equipment and overseas training requirements are expected to drive defense expenditure
3.2.3. Defense expenditure as a percentage of GDP is expected to average 2.6% over2021-2025
3.3. Analysis of Defense Budget Allocation
3.3.1. The country?s capital expenditure allocation is expected to increase over the forecast period
3.3.2. Singapore?s defense capital expenditure to value US$454.9 million in 2025
3.3.3. Key trends in the Singaporean defense market
3.3.4. Per capita defense expenditure to increase over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. Homeland security (HLS) is expected to grow at CAGR 2.71% over the forecast period
3.4.2. Border protection and cyber security are driving the country?s homeland security budget
3.5. Benchmarking with Key Global Markets
3.5.1. Singapore

 

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