DUBLIN--(BUSINESS WIRE)--The "Future of the Swiss Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
In 2018, the Swiss Government increased its defense budget expenditure by 6.7% compared to the previous year. The growth was triggered by the country's need to invest in military equipment and devices based on new age cutting-edge technologies, replacing outdated equipment. Consequently, Swiss military expenditure is forecast to increase steadily, to reach US$6.5 billion in 2023, at a CAGR of 4.67%, over the forecast period.
During 2019-2023, Switzerland is expected to assign an average of 24.7% of its defense budget to capital expenditure, higher than recorded during 2014-2018. The remainder of the budget will be used to meet revenue expenditures. The country is expected to invest in the procurement of C4ISR, cyber security, UAV's, critical infrastructure protection (CIP), and military radar, over the forecast period. In addition, the defense board aims to upgrade its existing communications network, as well as incorporating improved levels of internet security.
Swiss expenditure on homeland security was US$1.40 billion in 2018. In the next five years, expenditure is projected to increase marginally, growing at a CAGR of 0.91%. The nation's homeland security expenditure will be primarily directed towards countering illicit activities such as burglaries, the drug trade, and cyber fraud. Equipment suppliers are likely to experience an increase in demand for equipment related to surveillance activities.
The country's budget for homeland security is projected to increase over the forecast period, driven by the need to fight against organized crime, money laundering, financing of terrorist activities, and human trafficking. Additionally, the country is expected to invest in border security equipment. Demand for equipment is mainly expected to revolve around C4ISR, military IT, data and computing, critical infrastructure protection (CIP), military UAV, military radar, EO/IR and cyber security.
Key Drivers and Challenges
- Switzerland's Defense Neutrality Challenging for Defense Foreign Companies
- Foreign Enterprises Can Enter the Swiss Market by Acquiring or Partnering With a National Defense Corporation
- The Country's Small Defense Budget is a Challenge in Terms of Market Entry
- The Swiss defense budget, which is projected to be US$5.1 billion in 2018, is expected to increase at a CAGR of 4.67% over the forecast period and reach US$6.5 billion by 2023.
- Defense expenditure amounted to 0.7% of overall GDP in 2018, and is expected to increase over next five years, to an average of 0.8%.
- The country's defense expenditure will be driven by its neutral stance; as it obliges them to be independent and be capable of providing for their own security.
- Elbit Systems
- Thales Group
- Revision Military Inc.
- Pilatus Group
- RUAG Defense
- General Dynamics European Land Systems (GDELS)
Key Topics Covered
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Competitive Landscape and Strategic Insights
7. Business Environment and Country Risk
For more information about this report visit https://www.researchandmarkets.com/research/dd4nwk/future_of_the?w=4