Report highlights emerging defence markets
Summary: A new report has found that Mexico, Indonesia, Nigeria and Turkey are set to become the most attractive defence markets in the coming years, with defence and related spending increasing from US$40.6 billion to US$61.1 billion by 2019 in these economies.
The report from Strategic Defence Intelligence (SDI) – Future of the MINT Defense Industry 2019: Market Analysis, Size, Shares, Growth, Trends and Forecast 2019 – states that the economies of Mexico, Indonesia, Nigeria and Turkey (also known as MINT countries) are poised to become the next centre of attention with respect to international trade and commerce.
Homeland security expenditure
Homeland security is expected to be a major focus for these countries in the coming years, as sustained investment continues to be driven by ongoing threats such as drug and human trafficking, money laundering, cyber crime and arms trafficking. Homeland security spending is expected to present major procurement opportunities in such fields as UAVs, helicopters, aircraft, biometric systems and radars.
Indonesia with an estimated cumulative spend of US$98.5 billion is expected to witness the highest growth rate of 17.49% with Nigeria consolidating its position as one of the most potentially attractive markets in Africa with a growth rate of 12.61%; the Mexican defense market is expected to register a growth rate of 10.53%.
New defence markets
As new markets begin to open up for defence suppliers across the world, it is important to understand where the opportunities lie not just at the moment, but in the coming years.
The Defence Suppliers Service, part of the Defence Equipment and Support (DE&S) Supplier Relations Team, is the MOD’s focal point for the provision of advice and guidance to companies interested in becoming defence suppliers.
The Defence Suppliers Service has now launched its 2014 Yearbook to help organisations win more business with the defence industry. The Yearbook contains the exact intelligence you need to ensure you keep up to date with developments in the industry, including detailed analysis of the world’s top defence suppliers, global spend trends and military expenditure.
To find out more about the DSS Yearbook 2014, visit: http://www.bipsolutions.com/dss/yearbook2014/