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Future of the Sri Lankan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022

Future of the Sri Lankan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022

  • April 2017
  • 88 pages
  • ID: 4814623
  • Format: PDF
  • By GlobalData

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Future of the Sri Lankan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022

Summary

Sri Lankan defense budget is valued at US$2 Billion in 2017, and it registered a CAGR of 4.11% during the historic period. The post-war rehabilitation, threat of the re-emergence of LTTE affiliates, and a tense relationship with India drove the Sri Lankan defense expenditure during the historic period. With this trend expected to continue, Sri Lanka’s defense budget is estimated to register a CAGR of 1.24% to value US$2 Billion in 2022.

Homeland security (HLS) spends is expected to stands at US$477.4 million in 2017, and is estimated to reach US$488 million in 2022 by registering a growth rate of 1.15% during 2018-2022. This expenditure is primarily driven by the efforts to build the country’s internal security system to counter the growing problems of LTTE resurgence, communal violence, and the growing threats from human, weapon, and drug traffickers.

Sri Lanka’s capital expenditure allocation, which stood at an average of 13%, is expected to decrease to an average of 6.6% during the period 2017-2022. This is primarily due to the procurement of advanced defense equipment and focus on increasing the indigenous defense manufacturing capabilities. Key opportunities for equipment suppliers are expected in sectors such as patrol vessels and naval infrastructure, combat aircraft, and transport helicopters.

The Sri Lankan defense industrial base is largely undeveloped and, as a result, the country is highly dependent on foreign suppliers to meet its military needs. Russia emerged as the largest supplier of defense equipment to the country, accounting for 80% total arms imports, followed by the Australia with 20% during 2012-2016. Moreover, aircraft were the most imported military hardware during this period, and this is expected to continue during the forecast period along with naval vessels. Sri Lanka does not export any arms to foreign countries, as its domestic defense industry is still in a nascent stage, and this is expected to remain the same over the next five years.

The report “Future of the Sri Lankan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” offers detailed analysis of the Sri Lankan defense industry with market size forecasts covering the next five years

In particular, it provides an in-depth analysis of the following -
- The Sri Lankan defense industry market size and drivers: Detailed analysis of the Sri Lankan defense industry during 2018-2022, including highlights of the demand drivers and growth stimulators for the industry.
- Budget allocation and key challenges: Insights into procurement schedules formulated within the country and a breakdown of the defense budget. 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: Details of the top five defense investment opportunities over the next 10 years.
- Competitive landscape and strategic insights: Analysis of the competitive landscape of the Sri Lankan defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Companies mentioned in this report: Colombo Dockyard Plc. (CDPLC)

Scope
- The Sri Lankan defense budget is valued at US$2 billion in 2017, and registered a CAGR of 4.11% during the historic period. The post-war rehabilitation, threat of the re-emergence of LTTE affiliates, and a tense relationship with India drove the Sri Lankan defense expenditure during the historic period. With this trend expected to continue over the forecast period.
- The capital expenditure allocation, which stood at an average of 13% during the historic period, is expected to decrease to an average of 6.6% during the forecast period.
- This is primarily due to the procurement of advanced defense equipment and focus on increasing the indigenous defense manufacturing capabilities.
- Key opportunities for equipment suppliers are expected in sectors such as patrol vessels and naval infrastructure, combat aircraft, and transport helicopters.
- Consequently, revenue expenditure is expected to increase from an average of 87% during the historic period to an average of 93.4% over the forecast period, which will be directed towards additional recruitment, training, and development programs for military personnel.
- The MoD is expected to invest in Infrastructure development, Facilities management and MRO for patrol vessels and corvettes.

Reasons to buy
- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Sri Lankan defense industry market trends for the coming five years
- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period.
- The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
- Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available.
- This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the Sri Lankan defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

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