Future of the Singaporean Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018

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					Future of the Singaporean Defense Industry –
Market Attractiveness, Competitive Landscape
            and Forecasts to 2018
Future of the Singaporean Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018


 TABLE OF CONTENTS

 1.   Introduction ........................................................................................................................... 9
   1.1. What is this Report About? ........................................................................................................... 9
   1.2. Definitions ...................................................................................................................................... 9
   1.3. Summary Methodology.................................................................................................................11
   1.4. SDI Research Terrorism Index .....................................................................................................12
   1.5. About Strategic Defence Intelligence ..........................................................................................12
 2.   Executive Summary ............................................................................................................ 13
 3.   Market Attractiveness and Emerging Opportunities ........................................................ 15
   3.1. Defense Market Size Historical and Forecast..............................................................................16
       3.1.1. Singaporean defense expenditure expected to grow modestly during the forecast period ..................... 16
       3.1.2. Terrorist organizations, the acquisition of automated military equipment and overseas training
       requirements are expected to drive defense expenditure ..................................................................................... 18
       3.1.3. Military expenditure as a percentage of GDP is expected to increase marginally during the forecast
       period .................................................................................................................................................................. 19
   3.2. Analysis of Defense Budget Allocation .......................................................................................21
       3.2.1. Capital expenditure share to increase over the next five years................................................................ 21
       3.2.2. Revenue expenditure is expected to reach US$10.9 billion by 2018 ....................................................... 24
       3.2.3. Research and development accounts for 4% of Singapore’s defense budget ......................................... 26
       3.2.4. Per capita defense expenditure expected to increase over the forecast period ...................................... 28
   3.3. Homeland Security Market Size and Forecast ............................................................................30
       3.3.1. Homeland security (HLS) expenditure expected to grow steadily during the forecast period .................. 30
       3.3.2. Border protection, terrorism, improved identification systems and rising drug abuse are driving the
       country’s homeland security budget ..................................................................................................................... 32
       3.3.3. Singapore faces a degree of threat from foreign terrorist organizations .................................................. 34
   3.4. Benchmarking with Key Global Markets .....................................................................................36
       3.4.1. Singaporean has the highest defense expenditure in the South East Asian region ................................ 36
       3.4.2. The country’s defense budget is moderate compared to other leading spenders ................................... 38
       3.4.3. As a percentage of GDP, Singapore’s defense expenditure ranks amongst the top twenty in the world 39
       3.4.4. Singaporean has a moderate per-capita defense expenditure ................................................................ 40
       3.4.5. Singapore faces negligible threat from foreign terrorist organizations ..................................................... 41
   3.5. Market Opportunities: Key Trends and Growth Stimulators ......................................................44
       3.5.1. Corvettes .................................................................................................................................................. 44
       3.5.2. Cyber Security .......................................................................................................................................... 45
       3.5.3. C4ISR - Airborne ...................................................................................................................................... 46
       3.5.4. Fighters & Multi-Role Aircraft .................................................................................................................... 47




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Future of the Singaporean Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018

      3.5.5. Unmanned Aerial Vehicles (UAV) ............................................................................................................ 48
 4.   Defense Procurement Market Dynamics ........................................................................... 49
   4.1. Import Market Dynamics ...............................................................................................................50
      4.1.1. Defense imports expected to increase during the forecast period ........................................................... 50
      4.1.2. The US dominated Singaporean defense imports during the review period ............................................ 51
      4.1.3. Aircraft were the major defense imports during the review period ........................................................... 52
   4.2. Export Market Dynamics ..............................................................................................................53
      4.2.1. Thailand dominates Singaporean defense export market during the review period ................................ 53
      4.2.2. Ships accounts for the major defense exports between 2008–2012 ....................................................... 54
 5.   Industry Dynamics .............................................................................................................. 55
   5.1. Five Forces Analysis.....................................................................................................................55
      5.1.1. Bargaining power of supplier: low ............................................................................................................. 57
      5.1.2. Bargaining power of buyer: High .............................................................................................................. 57
      5.1.3. Barrier to entry: Medium ........................................................................................................................... 57
      5.1.4. Intensity of rivalry: Medium ....................................................................................................................... 57
      5.1.5. Threat of substitution: High ....................................................................................................................... 57
 6.   Market Entry Strategy ......................................................................................................... 58
   6.1. Market Regulation .........................................................................................................................58
      6.1.1. Defense policy requires technology and training to develop domestic capabilities ................................. 58
      6.1.2. Favorable foreign direct investment policies attract foreign OEMs .......................................................... 58
   6.2. Market Entry Route .......................................................................................................................59
      6.2.1. Technology Transfer and training is key entry strategy for foreign OEMs ............................................... 59
      6.2.2. Defense ministry issues suppliers with smart cards to enable internet registration for procurement ...... 59
      6.2.3. Lease to own arrangements improve speed and cost effectiveness of procurements ............................ 59
   6.3. Key Challenges .............................................................................................................................60
      6.3.1. Low availability of production factors discourage foreign investment ...................................................... 60
 7.   Competitive Landscape and Strategic Insights ................................................................ 61
   7.1. Competitive Landscape Overview ...............................................................................................61
   7.2. Key Foreign Companies ...............................................................................................................61
      7.2.1. Boeing: overview ...................................................................................................................................... 61
      7.2.2. Boeing: Major Products and Services ...................................................................................................... 61
      7.2.3. Boeing: Recent announcements and strategic initiatives ......................................................................... 61
      7.2.4. Boeing: Alliances ...................................................................................................................................... 62
      7.2.5. Thales: overview ....................................................................................................................................... 63
      7.2.6. Thales: Major Products and Services ....................................................................................................... 63
      7.2.7. Thales: Recent announcements and strategic initiatives: ........................................................................ 63
      7.2.8. Thales: Alliances ....................................................................................................................................... 63




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Future of the Singaporean Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018

      7.2.9. Thales: Recent Contract Wins .................................................................................................................. 64
      7.2.10. Lockheed Martin: overview ....................................................................................................................... 65
      7.2.11. Lockheed Martin: Major products and services ........................................................................................ 65
      7.2.12. Lockheed Martin: Recent announcements and strategic initiatives ......................................................... 65
      7.2.13. Lockheed Martin: Alliances ....................................................................................................................... 66
      7.2.14. Lockheed Martin: Recent contract wins .................................................................................................... 66
   7.3. Key Public Sector Companies......................................................................................................67
      7.3.1. Singapore Technologies Aerospace: overview ........................................................................................ 67
      7.3.2. Singapore Technologies Aerospace: products and services ................................................................... 67
      7.3.3. Singapore Technologies Aerospace: recent announcements and strategic initiatives ............................ 67
      7.3.4. Singapore Technologies Aerospace: Alliances ........................................................................................ 68
      7.3.5. Singapore Technologies Aerospace: Recent Contract Wins ................................................................... 69
      7.3.6. Singapore Technologies Aerospace: financial analysis ........................................................................... 69
      7.3.7. Singapore Technologies Marine: overview ............................................................................................... 72
      7.3.8. Singapore Technologies Marine: Major Products and Services............................................................... 72
      7.3.9. Singapore Technologies Marine: Recent announcements and strategic initiatives ................................. 72
      7.3.10. Singapore Technologies Marine: Alliances .............................................................................................. 73
      7.3.11. Singapore Technologies Marine: Recent Contract Wins .......................................................................... 73
      7.3.12. Singapore Technologies Marine: financial analysis ................................................................................. 75
      7.3.13. Singapore Technologies Electronics: Overview ....................................................................................... 77
      7.3.14. Singapore Technologies Electronics: products and services ................................................................... 77
      7.3.15. Singapore Technologies Electronics: Recent announcements and strategic initiatives .......................... 78
      7.3.16. Singapore Technologies Electronics: Recent contract wins..................................................................... 79
      7.3.17. Singapore Technologies Electronics: financial analysis ........................................................................... 80
      7.3.18. Singapore Technologies Kinetics: overview ............................................................................................. 82
      7.3.19. Singapore Technologies Kinetics: products and services ........................................................................ 82
      7.3.20. Singapore Technologies Kinetics: recent announcements and strategic initiatives ................................. 83
      7.3.21. Singapore Technologies Kinetics: alliances ............................................................................................. 85
      7.3.22. Singapore Technologies Kinetics: recent contract wins ........................................................................... 86
      7.3.23. Singapore Technologies Kinetics: financial analysis ................................................................................ 87
 8.   Business Environment and Country Risk ......................................................................... 89
   8.1. Demographics & Social Statistics................................................................................................89
      8.1.1. Urban Population ...................................................................................................................................... 89
      8.1.2. Number of Households ............................................................................................................................. 90
   8.2. Economic Performance ................................................................................................................91
      8.2.1. GDP Per Capita ........................................................................................................................................ 91
      8.2.2. GDP, Current Prices ................................................................................................................................. 92
      8.2.3. Consumer Price Index .............................................................................................................................. 93




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Future of the Singaporean Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018

       8.2.4. Wholesale Price Index .............................................................................................................................. 94
       8.2.5. Local Currency Unit per USD ................................................................................................................... 95
       8.2.6. Lending Rate ............................................................................................................................................ 96
       8.2.7. Deposit Rate ............................................................................................................................................. 97
       8.2.8. Real Interest Rate ..................................................................................................................................... 98
       8.2.9. Goods Exports as % of GDP .................................................................................................................... 99
       8.2.10. Goods Imports as % of GDP .................................................................................................................. 100
       8.2.11. Goods Trade Surplus/Deficit as % of GDP............................................................................................. 101
       8.2.12. Service Imports as % of GDP ................................................................................................................. 102
       8.2.13. Service Exports as % of GDP ................................................................................................................. 103
       8.2.14. Service Trade Surplus/Deficit as % of GDP ........................................................................................... 104
       8.2.15. Foreign Direct Investments ..................................................................................................................... 105
       8.2.16. Net Foreign Direct Investments as % of GDP ........................................................................................ 106
       8.2.17. International reserves, including gold ..................................................................................................... 107
       8.2.18. Market Capitalization of listed companies .............................................................................................. 108
       8.2.19. Market Capitalization of listed companies as % of GDP ........................................................................ 109
   8.3. Energy and Utilities .....................................................................................................................110
       8.3.1. Conventional Thermal Electricity Net Generation (Billion kWh) ............................................................. 110
       8.3.2. Conventional Thermal Electricity Installed Capacity (Million kW)........................................................... 111
       8.3.3. Petroleum Consumption ......................................................................................................................... 112
       8.3.4. Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts) ............................................ 113
   8.4. Infrastructure ...............................................................................................................................114
       8.4.1. Air Transport, Freight (million ton-km) .................................................................................................... 114
       8.4.2. Roads, Total network .............................................................................................................................. 115
       8.4.3. Overall Construction ............................................................................................................................... 116
   8.5. Minerals .......................................................................................................................................117
       8.5.1. Mining, Manufacturing, Utilities Output ................................................................................................... 117
   8.6. Technology ..................................................................................................................................118
       8.6.1. Patents Granted ...................................................................................................................................... 118
       8.6.2. Research and Development Expenditure ............................................................................................... 119
   8.7. Telecommunication ....................................................................................................................120
       8.7.1. Telephone lines ...................................................................................................................................... 120
       8.7.2. Telephone lines Penetration Rate .......................................................................................................... 121
 9.   Appendix ............................................................................................................................ 122
   9.1. About SDI.....................................................................................................................................122
   9.2. Disclaimer ............................................
				
DOCUMENT INFO
Description: Product Synopsis This report is the result of SDI’s extensive market and company research covering the Singaporean defense industry, and 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 Future of the Singaporean Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Singaporean defense industry. What is the current market landscape and what is changing? Singaporean defense expenditure increased at a CAGR of 6.8% during the review period and is valued at US$9.9 billion in 2013. Singapore has one of the strongest defense industries in South East Asian region, and is expected to grow at a CAGR of 6.2% to reach US$13.4 billion by 2018. The acquisition of automated equipment and the need for training overseas, along with the threats from terrorist organizations, are the primary drivers of defense expenditure in the country. What are the key drivers behind recent market changes? The acquisition of automated equipment and need for training overseas, along with the threats from terrorist organizations. What makes this report unique and essential to read? The Future of the Singaporean Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas. Key Features and Benefits The report provides detailed analysis of the current industry size and growth expectations fr
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