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Asia Pacific Aerospace Procurement Trends and Key Buyer Analysis
Frost & Sullivan, Dec 2009, Pages: 60
This research service provides a market analysis of the Asia Pacific aerospace procurement trends & key buyer analysis with a focus in the military aerospace segment. The research gives an overview of the market over a period between 2007-2016 with revenue forecasts for total market.
Research Overview
This Frost & Sullivan research service titled Asia Pacific Aerospace Procurement Trends and Key Buyer Analysis (Including China and India) provides the current and future industry dynamics, revenue forecasts, and future market outlook. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: fixed wings, rotary wings, and unmanned aerial vehicles (UAVs).
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Market Overview
High Demand from the Defense Sector Drives Aerospace Procurement in Asia Pacific
Over the last decade, military spending in Asia Pacific has been growing significantly, and is expected to continue well into 2016. Defense expenditure in the region amounts to 25.8 percent of world military spend. The region offers tremendous opportunities for international participants as countries are engaged in a race for sky power, equipping themselves with high-tech, multi-role military aerospace platforms. Terrorist attacks and military conflicts are pointers to the security instabilities within the Asia pacific region, and there is a pressing need to step up collaborative action to reduce the probability of recurring threats. Therefore, efforts have been directed toward providing national armed forces with state-of-the-art military aerospace platforms. In the coming years, the region is expected to witness large military aerospace procurement. Countries in the Asia Pacific are intensifying research and development efforts for indigenous military aerospace designs. 'While most countries are focusing on the development of unmanned aerial vehicle (UAV), big economies such as China and India are blazing the trail in the development of fixed and rotary wing military aerospace platforms,' notes the analyst of this research service. 'Therefore international industry participants will have a knowledge sharing base as they establish joint ventures in this region.' Such initiatives have enabled the reduction on dependency on imports.
Although market prospects look upbeat, there are some challenges that are clouding the market landscape. The increasing cost of military aerospace platforms, often associated with the technological capabilities of a platform, is snowballing into a serious threat for this market. This is expected to reduce the demand for procurement by armed forces, which will result in a limited number of orders. As military procurement is closely associated with national resource management, the government has to justify each procurement. Apart from the concerns over large-scale procurement, high upgrade costs are also restraining market progression. 'The current national capabilities of implementing and adapting the next generation of military aerospace procurement have raised concerns,' says the analyst. 'State-of-the-art aerospace technology would require the same wavelength of supporting platforms, and a less advanced military airbase with limited potential for upgrades will not be favorable for the market.'
Advanced technology of the 21st century plays a pivotal role in military warfare. Procurement programs largely depend on several factors. One of the most important criteria for procurement of equipment is ease of integration of different platforms and equipment. In addition to cross-platform operations, equipment is also required to be easily upgraded in the future. Military procurement is highly regulated and controlled in all the Asia Pacific countries. A very lengthy and intensive procurement process is required because it involves high cost and national military information. Final approval of any military procurement will be dictated by a board of directors in the Ministry of Defense. Defense contractors should register with various licensing agencies, and are required to have a national representative beforehand.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Geographic Region:
- Australia
- New Zealand
- India
- China
- Singapore
- Malaysia
- Indonesia
- Thailand
- Taiwan
- The Philippines
- Technologies
The following technologies are covered in this research:
- Fixed wings
- Rotary wings
- Unmanned aerial vehicles (UAVs)
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