The City-state of Singapore, one of the world's Biggest Commercial Hubs is Gaining a Strong Foothold in the Asian Defense Market, Owing to its Immense Emphasis on Strengthening the Armed Forces, According to the New Study on ASDReports
The new report now available on ASDReports, provides readers with a detailed analysis of both historic and forecast Singaporean defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies and key news. Gain information about the various military requirements that are expected to generate revenues during the forecast period. With access to both recent orders, and the expected investment pattern by Singapore during the forecast period you're set for a sure-footing in the market!
Singapore procures the majority of its advanced and high-end defense equipment from foreign companies; significant imports include aircraft, ships, armored vehicles, and missiles. Historically, the largest supplier of weaponry to Singapore has been the US; however, between 2009 and 2013, countries such as France and Germany have made significant inroads into the country's defense industry.
Singapore also finds a place in the world's top 30 defense exporters, owing to strong government support and successful attempts at product diversification by domestic companies. Singapore primarily exports defense equipment to Thailand, the UK, Nigeria, Chad, and the UAE. The country has also initiated the production of its own military equipment, including SAR-21 Bullpup Assault Rifle and the Ultimax 100 Lightweight Light Machine Gun.
Read more on ASDReports
Source: ASDReports - Market Research
Date: Oct 17, 2014