Report description overview:
The new report: Future of the Indonesian Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019 analyzes the Indonesian defense industry market size and drivers, including detailed analysis of the Indonesian defense industry until 2019, together with highlights of the demand drivers and growth stimulators for the industry. This report provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
The Indonesian defense market, estimated to value almost US$ billion in 2014, is expected to grow at a CAGR of over 17% by 2019. The economy, which has been growing at 6% growth rate annually, has fuelled defense expenditure with an aim to modernize its armed forces under the Strategic Plan 2024. With most of its military equipment and platforms belonging to the soviet-era, the Ministry of Defense is spending to replace the aging hardware or upgrade existing equipment.
The country is expected to invest in multi-role aircraft, naval vessels such as submarines and frigates, cyber security, border security, unmanned aerial vehicles, radar systems, and computer network defense capabilities over the next five years, which will drive the growth in its capital expenditure.
The Indonesian defense industry is one of the fastest-growing defense markets in the South Asia and, historically has relied on foreign OEMs (original equipment manufacturers) to strengthen its defense capabilities.
Although a limited number of foreign companies have established businesses in Indonesia due to its small defense market, joint venture is one of the preferred market entry strategies that has employed by such companies in the past.
Source: ASDReports - Market Research
Date: Jun 27, 2014