2013-09-15 20:37:58 - Fast Market Research recommends "Future of the Turkish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018" from Strategic Defence Intelligence, now available
This report is the result of SDI's extensive market and company research covering the Turkish 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?
The Future of the Turkish 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 a market share in the Turkish defense industry.
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What is the current market landscape and what is changing?
Turkey, one of Europe's most attractive defense markets, allocated a military budget
of US$15.3 billion in 2013, which increased at a CAGR of 3.3% during the review period. The country is expected to grow at a CAGR of 6.6% to reach US$21.3 billion by 2018. Turkey's defense expenditure will largely be driven by a strained relationship with Greece, persistent terror threats, and instability within the region, considering the 28-year-old fight against the Kurdistan Workers' Party (PKK) one of the major factors. The country has no plans to decrease its defense budget and is expected to increase its expenditure on procurement for the foreseeable future. The capital expenditure allocation of the defense budget averaged 26.4% during the review period and is expected to increase to an average of 29.7% over the forecast period. This increase is primarily due to the country's procurement plans including Joint Strike Fighter F-35, A400M transport aircraft and the Type-214 air-independent propulsion submarine and modernization plans lined up during the forecast period. The current modernization trend aims to have smaller and more advanced forces with greater mobility and firepower.
What are the key drivers behind recent market changes?
Participation in Peacekeeping missions, a reduction in foreign dependency for military equipment, threats due to the Kurdish Workers Party and other external factors, and military modernization initiatives to drive defense expenditure during the forecast period.
What makes this report unique and essential to read?
The Future of the Turkish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Turkish defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in Turkey. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
Until 2004, the Turkish Ministry of Defense was highly trusted, and defense deals were not scrutinized for instances of corruption and bribery; however, during the review period, high ranking defense officials were convicted on charges of malpractice. For example, in 2004, a former commander of the Turkish Navy was accused of bribing defense procurement officials in order to ensure defense procurement from a domestic firm owned by close associates.
Throughout the review period, Turkey has invested in substantial defense procurements, and its military modernization program is currently approaching completion. The country is in possession of a well-developed domestic defense industry which is primarily dependent on Turkish defense expenditure. However, the country has now achieved the majority of its military modernization plans and this, coupled with the impact of the global economic recession, has resulted in the postponement of a number of defense procurement programs. As a result, no major procurements are expected over the forecast period and this will force the domestic defense industry to cater to small defense procurements or develop an export market for its products.
About Strategic Defence Intelligence
Strategic Defence Intelligence provides a stream of continuously updated customer and competitor intelligence, as well as detailed research reports providing an unrivalled source of global information on the latest developments in the defence industry. View more research from Strategic Defence Intelligence at www.fastmr.com/catalog/publishers.aspx?pubid=1040
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