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Singapore Defence & Security Report Q1 2014 - New Report Available

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2013-12-02 11:21:05 - New Defense research report from Business Monitor International is now available from Fast Market Research

Despite signs of economic turbulence in late 2012 and early 2013, Singapore's economy has performed better than expected during the middle two quarters of 2013. Consequently Singapore's 2013 GDP growth rate forecast has been revised upwards from between 1-3%to 2.5-3.5%. The Monetary authority of Singapore expects this economic expansion to continue into 2014, enabling the Singaporean government to maintain its stable defence budget, traditionally equivalent to roughly 6% of GDP. While still perhaps the most serious security threat Singapore faces, a serious economic downturn is less of a concern than in the previous two quarters.

This positive economic outlook coincides with the procurement, or planned procurement, of several new pieces of military hardware including the Aster-30 surface-to-air missile system and AN/TPQ-53

(V) Counterfire Target Acquisition Radar System. While no final decisions have been made regarding the long rumoured acquisition of the F-35 fighter jet, US officials report that an initial order of a dozen F-35s could be announced at the Singapore air show in February 2014. The purchase of F-35 fighters would constitute the largest military purchase in Singapore's history, underlining the close security relations the city-state enjoys with the United States (US).

Full Report Details at
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Given regional geopolitical uncertainties proceeding from China's rapid rise, the US is likely to remain Singapore's principle security partner for the foreseeable future. Indeed, last April's decision to allow the US navy to station up to four Littoral Combat ships in Singapore at any given time will ensure a long-term US military presence in the state. Nonetheless, it would be inaccurate to view Singapore's defence and security policy as exclusively oriented around cooperation with the US.

Instead cooperation with the US is increasingly likely to be one of several components of a more multi-faceted strategy. Singapore's completion of its third command of the multinational counter-piracy task force in the Gulf of Aden in June, demonstrates the government's willingness to play a more active role in combating multinational security threats. Furthermore, the Singapore government has invested much effort into fostering regional cooperation at both a multilateral level; through the Association of South-East Asian Nations (ASEAN), and bilateral level; through separate agreements with ASEAN partners. In September, Singapore and Vietnam launched a 'strategic partnership' which, amongst other things, looks to deepen their defence and security ties as well as enhance ASEAN's role in the global community.

Singapore has been able to develop a more multifaceted and proactive security strategy largely as a result of its internal stability and increasingly benign external security environment. Indeed, Singapore currently enjoys the most favourable security-risk rating of any country in the Asia-Pacific region. Singapore's security priorities are largely dictated by its geographical location as a littoral state to the Straits of Malacca. With 40% of global trade passing through the Straits as well as Singapore's dependence on seaborne trade for its continued economic prosperity, ensuring safe passage through the Malacca Straits is likely to dictate much of Singapore's defence and security policy for the foreseeable future

Report Table of Contents:

BMI Industry View
- Singapore Security SWOT
- Singapore Defence & Security SWOT
- Political
- Economic
- Business Environment
Industry Forecast
- Defence Budget
- Table: Defence Expenditure, 2010-2017
- Armed Forces
- Table: Armed Forces ('000 personnel, unless otherwise stated), 2002-2008
- Table: Manpower Available For Military Service (aged 16-49 unless otherwise stated), 2010-2017
- Defence Sector Production
- Imports
- Table: Defence Imports (US$mn) 2010-2017
- Exports
- Table: Defence Exports (US$mn), 2010-2017
Macroeconomic Forecasts
- Household Leverage Is A Risk�
- �But The Overall Picture Is More Sanguine
- Higher Returns On External Assets Will Provide A Boost
- Near Term Growth Prospects Muted, But Stronger Growth On The Horizon
- Table: Singapore - Economic Activity
Industry Risk Reward Ratings
- Asia Security Risk Ratings
- Table: Asia Pacific Regional Security Ratings
- Table: Asia Pacific State Vulnerability To Terrorism Index
- Singapore Risk Ratings
Market Overview
- Defence Market Overview
- The Armed Forces
- Domestic Defence Industries
- Weapons of Mass Destruction
- Imports
- Security Market Overview
- Domestic Threats
- Regional Threats
- International Threats
Company Profile
- Singapore Technologies Aero
- Singapore Technologies Electronics
- Singapore Technologies Kinetics
- Singapore Technologies Marine
Regional Overview
- Political Risk Analysis
Global Industry Overview
- Global Political Outlook
- Industry Forecast Methodology
- Sector-Specific Methodology
- Sources
- Risk/Reward Rating Methodology
- Sector-Specific Methodology
- Table: Security Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Bill Thompson
Phone: 18008448156

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