Singaporean Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2024

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Keywords: Defense, budget, offset, regulation, capital expenditure, homeland, drivers, market opportunities, procurement, entry route, key challenge, announcements, alliances, contract awards, financial analysis, business environment,Boeing, ThyssenKrupp Marine Systems, Thales, Singapore Technologies Aerospace, Singapore Technologies Marine, Singapore Technologies Kinetics

Singaporean Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2024


The Singaporean Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2024, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report offers detailed analysis of the Singaporean defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following –
– The defense industry market size and drivers: detailed analysis of the Singaporean defense industry during 2020-2024, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns
– Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
– Porter’s Five Force analysis of the Singaporean defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
– Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
– Market opportunities: details of the top five defense investment opportunities
– Competitive landscape and strategic insights: analysis of the competitive landscape of the Singaporean defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis


– Despite its small land area and population, Singapore’s economic importance and military capability rank it among Southeast Asia’s regional powers. Singapore’s defense budget is valued at US$11.4 billion in 2019 and registered a CAGR of 4.49% during the historic period.
– Threats posed by terrorist organizations such as the Al-Qaeda-linked Jemaah Islamiyah (JI) and other regional terrorist groups, the acquisition of military equipment, overseas training of its armed forces, and participation in the international peace-building missions and disaster relief operations have mainly driven the budget increases in the historic period.
– The country plans to increase its defense expenditure with significant and steady investment in defense procurements according to defense minister Ng Eng Hen in March, 2019. Due to this military modernization process, the country’s defense expenditure is anticipated to reach US$13.2 billion in 2024 and register a CAGR of 3.16% during 2020-2024.

Reasons to buy

– This report will give the user confidence to make the correct business decisions based on a detailed analysis of the The Singaporean defense industry market trends for the coming five years
– The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
– Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
– A deep qualitative analysis of the The Singaporean defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

Companies Mentioned:
ThyssenKrupp Marine Systems
Singapore Technologies Aerospace
Singapore Technologies Marine
Singapore Technologies Kinetics

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