DUBLIN--(BUSINESS WIRE)--The "Future of the Myanmarese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
Myanmar is currently in the midst of a political transformation as historically, Myanmar was ruled by the army, but is now being run by a civilian government. The country is therefore focusing on developing the country's economy and is in the process of cutting down on military expenditure, registering a CAGR of -20.43% during the historic period. However, over the forecast period, the country's defense expenditure is expected to stabilize and is anticipated to exhibit a growing trend over the forecast period.
Myanmar's defense budget is mainly driven by the country's involvement in the longest running civil war, ethnic conflicts and insurgencies, along with its increasing capital expenditure on the modernization of its navy and air force. The country's strained relationship with Bangladesh over the control of an abundance of oil and gas reserves is the reason behind the county's naval modernization plan. In addition, capital expenditure is expected to register a CAGR of 5.9% during the forecast period to reach US$574 million in 2023.
Key opportunities relating to the procurement of defense equipment in Myanmar are expected to be in the areas of submarines, multirole aircraft, and corvettes, among others. Consequently, the remaining budgets will be allocated to revenue expenditure, which constitutes personnel salaries, development programs for military personnel, and training and development.
- The Myanmar defense budget is valued at US$975 million in 2018 and registered a CAGR of -20.43% during the historic period. The country is currently in the midst of a political transformation as historically, Myanmar was ruled by the army, but is now being run by a civilian government. The country is therefore focusing on developing the country's economy and is in the process of cutting down on military expenditure.
- The country's capital expenditure allocation, which stood at an average of 42.4% during the historic period, is anticipated to increase significantly to an average of 45% during the forecast period. This increase is primarily due to the procurement of advanced defense equipment and a focus on increasing the capabilities of the country's indigenous defense industry.
- The MoD expected to invest in submarines, multi-role aircraft, maritime surveillance and detection and corvettes, among others.
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
- Bharat Dynamics Limited
- Bharat Electronics Limited
- Chengdu Aircraft Industry Group
- Larsen & Tubro
- Myanmar Defense Industries (DI)
- Pakistan Aeronautical Complex (PAC)
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