Vietnamese Defense Industry Outlook Representing a CAGR of 10.95% in 2016 in Combination with Future Growth Aspects
Albany, New York, November 28, 2016: A latest report has been added to Market Research Hub’s report offering, titled “Future of the Vietnamese Defense Industry- Market Attractiveness, Competitive Landscape & Forecasts to 2021”. This report offers detailed analysis of Vietnamese defense industry including its market size forecasts from 2017 to 2021. An in-depth analysis on defense budget allocation and key challenges with insights along with procurement plans expressed within the country and a breakdown of the defense budget with respect to the army, navy, and air force. The report also provide details on the key challenges faced by defense market participants within the country.
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Firstly, the report analyzes the current market landscape and the changes done by the government in investment. Vietnam is one of the fastest growing defense markets in the world with a military budget valued at US$5 billion in 2016. The key areas of investment are likely to be fighter and multi-role aircraft, submarines, helicopter, naval vessels and surveillance systems. The Ministry of Defense is expected to invest in Military-IT (Networking), Infrastructure Construction, MRO facilities for frigate maintenance and SSK-diesel electric submarine over the coming years. Key factors such as territorial claims in the South China Sea, Chinese naval build-up and the acquisition of modern military hardware systems to replace out-of-date and aging equipment are anticipated to drive the country’s military expenditure in the forecast period of 2012 to 2021.
It also provides a snapshot of the country’s expenditure and modernization patterns. The government’s precise military modernization plans along with its great efforts will strengthen its military capabilities. For the future market growth, the country is expected to invest US$32.1 billion for defense purposes, in which US$10.7 billion is reserved for capital expenditure to fund defense procurements. According to the research, capital expenditure of Vietnam is expected to grow at a CAGR of 8.91% over the forecast period.
Furthermore, report also provides an overview of key players and their market entry strategy, together with insights such as key associations, strategic initiatives and a brief financial analysis. Some of the top domestic and foreign defense manufacturers are listed below:
• Vietnam Shipbuilding Industry Corporation (SBIC)
• Damen Schelde Naval Shipbuilding (DSNS)
• Admiralty Shipyards
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The report allows readers to identify possible ways to enter in the market, along with full descriptions of how existing companies have entered the sector including key contracts, alliances and strategic initiatives. Porter’s five force analysis of the Vietnamese defense industry are also discussed in the report.
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