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Economic 360 for Vietnam: Growth Prospects and Emerging Opportunities in the Aerospace and Defense Industry
Frost & Sullivan, Sep 2010, Pages: 82
This research service provides a comprehensive overview of the aerospace and defence industry in Vietnam, encompassing socio-economic, legal and political factors that have fuelled the growth of the industry over the years. With an emphasis on civil aviation, in particular, air fleet expansion, air traffic management and construction and upgrading airports have been extensively reviewed. Growth opportunities in aviation equipment supply and aviation services are analyzed. Defence industry analysis has also revealed details on growth opportunities in the arms and weaponry segment. Overall, the research gives a detailed insight into the aerospace and defence industry.
Reseach Overview
The aerospace and defense industry is instrumental in boosting the Vietnamese economy with contributions from the civil aviation and the tourism sectors. Infrastructure development in both these sectors is likely to benefit the industry that is currently experiencing stable growth. With political support from the Socialist Republic of Vietnam, this industry enjoys government-aided funds and a regular budgetary provision. The government’s objective is to increase the local manufacture of equipment and technologies for the aerospace and defense industry as it presently relies on imports from Russia and the United States. Although the economic downturn affected Vietnam, it was able to stabilize itself with strong fiscal, monetary, and stimulus packages in place. The year 2009 saw a surge in the passenger traffic and consequently, spurred growth in the civil aviation industry with the introduction of multiple international flight routes to Vietnam. France, the United States, Canada, Laos, and Malaysia have signed significant agreements with Vietnam pertaining to the supply of aircrafts and equipment to the aviation sector.
The defense sector is also gaining prominence in Vietnam. Heavily dependent on imports from countries such as Russia, Germany, and the United States, Vietnam’s defense imports are on the rise. Equipment such as grenades, pistols, and other weaponry are in demand. The accession of Vietnam by the World Trade Organization (WTO) ensured a decrease on the import tariffs of weaponry. Notwithstanding imports plummeting during the economic slump when the United States and Russia reduced equipment supply to Vietnam, imports have subsequently increased with China emerging as a new primary supplier of defense equipment and technology to Vietnam. Advancements in aerospace and defense technologies and equipment are likely to pave the way for a well-developed industry. Regional and infrastructural opportunities, coupled with progressive political and economic policies, are also anticipated to boost the aerospace and defense industry in Vietnam.
Frost & Sullivan’s Economic 360 Perspective for Vietnam: Growth Prospects and Emerging Opportunities for the Aerospace and Defence Industry highlights the various government initiatives, funding, and projects undertaken to improve the existing aerospace and defense industry to aid the Vietnamese economy. It analyses valuable data about the major segments in the aerospace and defense industry, such as aviation equipment, arms and weaponry, and defense procurement along with infrastructure developments relevant to the industry.
Benefits:
Identify New Market Opportunities
The trends of the economic environment of Vietnam have been analyzed along with their impact on the aerospace and defence industry. This analysis will provide immense information to industry participants on market opportunities in specific segments of the industry in Vietnam.
Understand Future Industry Trends
The research service gives an insight into the Vietnam’s Aerospace and Defence industry, one of the most dynamic markets, discusses its dependence on the prevailing economic scenario and describes the various infrastructure developments in the industry. This will enable industry participants to gauge the future trends of the market, enabling them to devise appropriate market strategies to improve market share.
Comprehend Economic Environment
A detailed analysis of the economic framework of Vietnam’s Aerospace and Defence industry is provided in this research service which will help industry participants by giving insights into the current as well as future economic parameters. This is particularly beneficial in the case of the Aerospace and Defence industry as these economic indicators form an important criterion for industry performance.
Devise Country Entry Strategies
The research service provides valuable information and analysis of the strengths and weaknesses of the economy of Vietnam, which are relevant for the Aerospace and Defence industry. This is particularly useful in devising country specific strategies for industry participants.
Evaluate Industry Segment Potential
This research service is focused on the Aerospace and Defence in Vietnam with detailed coverage of economic and infrastructure indicators affecting the industry and their future trends that will impact the industry. This research service provides both country and industry trends and forecasts for major variables and is useful to companies who are planning to enter new geographic markets. This will help corporate planners in developing accurate business plans and enhance credibility to planning company resources.
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