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Singapore Defence and Security Report Q4 2014

  • ID: 2931626
  • August 2014
  • Region: Singapore
  • 80 pages
  • Business Monitor International
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BMI View: Singapore has steadily increased the national defence budget in line with inflation, and aims to maintain a consistent level of expenditure to support long-term armourment and development of the Singapore Armed Forces (SAF). This follows a policy of zero troop increases, as SAF looks to overcome the population limits and strengthen its position through technological gains. In the future, we expect to see sustained levels of weapons imports from American and European arms manufacturers, as well as continued support for domestic defence company, ST Engineering.

Continued tensions within the regional security climate are spurring increased militarisation of the Southeast Asia, where unlike in Europe and the US, government are ramping up military expenditure.

Singapore is leading the way on this, dedicating approximately 25% of the public budget to the defence sector. In 2013, Singapore's defence budget was valued at USD12bn, which compares to USD5bn in Malaysia, and USD7.9bn in Indonesia.This bodes well for domestic and international security and defence firms, which will see Singapore maintain its position as a top five global arms importer.

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BMI Industry View 7

Key BMI Forecasts 8

Recent Developments 8


Singapore Security SWOT 9

Singapore Defence & Security SWOT 12

Political 15

Economic 16

Business Environment 17

Industry Forecast 18

Defence Expenditure 18
Table: Defence Expenditure (Singapore 2011-2018) 18

Armed Forces 20
Table: Armed Forces Personnel (Singapore 2004-2011) 21
Table: Manpower Available For Military Service (aged 16-49 unless otherwise stated) (Singapore 2011-2018) 22

Defence Sector Production 22
Table: Defence Trade Balance (USDmn) (Singapore 2011-2018) 23

Imports 24

Exports 24
Table: Defence Exports (USDmn) (Singapore 2011-2018) 25

Macroeconomic Forecasts 26

Macroeconomic Analysis 26

Holding Out Hope In Construction 26

Trade Outlook Not So Bright 27

MAS Stands Pat On Cue 27
Table: Economic Activity (Singapore 2009-2018) 29

Industry Risk Reward Ratings 30

Asia Security Risk Ratings 30
Table: Asia Security Risk Ratings 30
Table: Asia State Vulnerability To Terrorism Index 31

Singapore Security Risk Ratings 32

Market Overview 35

Singapore Defence Market Overview 35

The Armed Forces 36

Domestic Defence Industries 38

Weapons Of Mass Destruction 40

Imports 40

Exports 44

Singapore Security Overview 46

Domestic Threats 46

Regional Security 47

International Security 50

Company Profile 51

Singapore Technologies Aero 51

Singapore Technologies Electronics 53

Singapore Technologies Kinetics 55

Singapore Technologies Marine 57

Regional Overview 59

South East Asia Security Overview 59

Global Industry Overview 72

Political Risk Analysis 72

Methodology 77

Industry Forecast Methodology 77

Sector-Specific Methodology 78

Sources 79

Security Risk Ratings Methodology 79
Table: Indicators And Weighting 80

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Singapore Technologies Aero
Singapore Technologies Electronics
Singapore Technologies Kinetics
Singapore Technologies Marine

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