Business Monitor International


Singapore Defence & Security Report

Published 31 October 2014

  • 81 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Singapore Defence & Security Report

BMI View:   Defence spending remains a top priority for the Singaporean government which is executing a prudent military procurement agenda with a long-term outlook that will transcend the Singapore Armed Forces (SAF) into a third generation fighting force. 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. The key downside risk Singapore's defence expenditure stems from a GDP downturn, but we forecast positive and stable economic growth through to 2018. 

BMI forecasts Singaporean defence expenditure to reach USD11.6bn in 2015 as the Ministry of Defence upholds its commitment to steady and sustained spending policy, which is focused on hi-tech weaponry. This bodes well for domestic and international security and defence firms, which will see Singapore to maintain its position as a top five global arms importer. Singapore is investing in submarines, unmanned aerial vehicles (UAVs), and new fighter jets. The city-state is tipped as one of the leading customers for the Lockheed Martin F-35 fighter programme, however fresh reports indicating further F-15 acquisitions have raised question marks over Singapore's commitment.

Other important acquisitions made in the past 12 months include orders for two Type-218SG submarines, two Sikorsky S-70B Naval Helicopters, Joint Direct Attack Munitions (JDAM) kits, SPYDER and ASTER-30 Surface-to-Air Missile Systems. This array of systems are expected to improve synergy between air, sea, and land forces, and strengthen defensive and offensive capabilities as SAF operates a pre-emptive defence policy - similar to that of Israel. There have also been further investments in personnel training, including a new live-firing training facility, designed to enhance urban warfare and close-quarters combat capabilities.  ST Electronics has taken delivery of a Cyber Security Simulator, which will...

Table of Contents

BMI Industry View
7
Key BMI Forecasts
8
Recent Developments
8
SWOT
9
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

The Singapore Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.

BMI's Singapore Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Singaporean defence and security industry.

Key Benefits

  • Benchmark BMI's independent defence and security industry forecasts on Singapore to test other views - a key input for successful budgetary and strategic business planning in the Singaporean defence and security market.
  • Target business opportunities and risks in the Asia defence and security sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Asia.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).

Coverage

Global and Regional Political Outlooks

A strategic overview of the world's major political risks, identifying countries facing leadership successions and nations at risk of upheaval, inter-state conflict or separatism and insurgencies, plus a summary of the world's 'wild card' low-probability high-impact risks.

SWOT Analysis

Snapshot evaluation of the major issues affecting the defence and security sectors, economy and politics, with issues subdivided into 'Strengths', 'Weaknesses', 'Opportunities' and 'Threats'.

Political Risk Assessment

Drawing on BMI's heritage of more than 25 years of Country Risk analysis, this comprehensively evaluates the key risks to domestic politics and foreign relations, focusing on issues most likely to affect either domestic security or the defence sector.

Security Risk Analysis

BMI's proprietary Security Risk Rankings provide a reliable - and country comparable - guide to conflict, terrorism and criminal risk, backed up by our analyst's latest assessment of each component. Furthermore, drawing on our country risk expertise, we assess the state's vulnerability to a serious - or prolonged - terrorist campaign.

Armed Forces Spending/Expenditure

The reports contain a detailed breakdown of areas of expenditure by the armed forces, these include spending on international deployments, WMDs and missile defence systems as well as individual breakdowns of the cost-per-soldier.

Domestic Security Overview

The domestic security overview lists the various potential internal security threats facing a country, ranging from internal security issues such as terrorism, cyber terrorism, crime and drugs, to external security issues including general defence procedures and potential threats from specific countries.

BMI Industry Forecast Scenario

Historic data series and forecasts to end-2018 for key industry indicators supported by explicit assumptions, plus analysis of key downside risks to the main forecast.

Budgets & Expenditure: Defence expenditure (local currency and US$bn); defence expenditure (% of total budget); defence expenditure (% of GDP); defence expenditure per capita, US$; defence budget (local currency and US$bn).

Employment: Employment in arms production (`000s); employment in arms production (% of labour force).

Macroeconomic: BMI's forecasts and analysis of all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Domestic Security Overview

The reports also provide a regional overview which details specific issues and flashpoints affecting , along with potential risks in the coming year.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc