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Platforms at the End of Useful Life Stimulate Demand for Defense Equipment Globally Finds Frost & Sullivan - Current defense industry scenario dictates market participants take a long-term perspective and enter partnerships - Defense.Frost.com
Platforms at the End of Useful Life Stimulate Demand for Defense Equipment Globally Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2014/06/26 - Current defense industry scenario dictates market participants take a long-term perspective and enter partnerships - Defense.Frost.com.

   
 
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The global defense market is gaining momentum as the near end of platform service life in several nations forces investment in new builds and the extensive use of maintenance, repair and overhaul, logistics, and training services. Market participants should target countries such as India, Turkey, Poland, Taiwan, Japan, South Korea and Brazil, which can now afford to routinely purchase and co-produce state-of-the-art platforms and replace older cold-war era equipment.

New analysis from Frost & Sullivan's Global Defense Outlook finds defense procurement spending stood at $600 billion in 2013 and is expected to reach $660 billion in 2018. Command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) contributed the most to market revenues in 2013 due to the high demand for radars, optical sensors, sonars, and secure flexible networks.

"Market participants have adequate opportunities for growth, with Saudi Arabia, Germany and other countries expanding and upgrading their military capabilities to counter the threat posed by the increased number, range, accuracy, and lethality of land-based missile systems, naval power projection, and basing in North Korea, China, Russia and Iran," said Frost & Sullivan Aerospace & Defense Senior Industry Analyst Brad Curran.

However, economic uncertainty, particularly in Western nations, has lowered national budgets, causing intense competition for budget share between defense and domestic programs. This is suppressing the demand for military equipment.

"Not surprisingly, market participants are facing a situation of overcapacity, which is forcing the industry to consolidate or enter joint ventures and engage in technology transfer," noted Curran. "Market participants are also adopting a long-term perspective, maintaining smaller margins, and forging partnerships with commercial providers."

To prevent further overcapacity, vendors must focus on unmet customer needs, which include submarines, unmanned vehicles, and networked sensors and communications. Strong customer relationships and robust support services are also necessary to strengthen presence in the market.

Global Defense Outlook is part of the Defense (defense.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: US Defense Geospatial Market, Global Physical Security Information Management Market Assessment, Global Cyber Security Market Assessment, and Global Border and Maritime Security Market Assessment. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

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Global Defense Outlook / ND73-16

 
 
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Platforms at the End of Useful Life Stimulate Demand for Defense Equipment Globally Finds Frost & Sullivan

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