Product Synopsis
This report is the result of SDI's
extensive market and company research covering the Vietnamese 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?
To
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Future of the Vietnamese 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 market share
in the Vietnam defense industry.
What is the current market landscape
and what is changing?
With booming economy and maritime
trade, Vietnam finds itself in the middle of an Asian arms race. A looming
Chinese threat and the need to replace obsolete military equipment are expected
to drive the country's defense expenditure over the forecast period. Vietnam's
defense budget is valued at US$3.1 billion in 2013, and is expected to grow at
a faster pace over the forecast period than during the review period. Vietnam's
military expenditure is expected to grow at a CAGR of 7.84% over the forecast
period to reach US$4.6 billion by 2018, compared to the registered growth rate
of 6.26% during the review period. The Vietnamese government is estimated to
increase its allocation for capital expenditure over the forecast period to an
average of 32.5% of total defense expenditure. The country is expected to
procure military equipment to boost its naval strength and maritime security in
order to counter the threat from the growing Chinese naval strength in the
South China Sea. In addition, Vietnam is also expected to procure military
equipment such as aircraft, missiles and armored vehicles as part of its
modernization program. Foreign companies may gain from the Vietnamese
government's efforts to open its defense market and look beyond its traditional
arms supplier, Russia.
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