DUBLIN--(BUSINESS WIRE)--The "Future of the Colombian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
Colombia's drive towards economic prosperity, which was stifled by internal insurgencies from FARC (Revolutionary Armed Forces of Colombia) and ELN (National Liberation Army), is steadily returning to normalcy. The country successfully ended a five decade old conflict with FARC rebels in 2017; the justice deal between FARC and the government will alleviate pressure from the country.
The Colombian defense industry is expected to register steady growth over the next five years due to the rise of both external and internal security threats, along with the stabilization of the economy. Valued at US$11.1 billion in 2018, defense expenditure will increase at a CAGR of 5.69%.
The reasons behind the rise of military expenditure are the threats from Venezuela over political issues, internal insurgencies rising in the rebel forces, and the ongoing fight against drug trafficking. Increased defense expenditure is expected to be used for the purchase of helicopters, main battle tanks, UAVs, and air defense systems. The MoD is expected to invest in Land-based physical security of critical infrastructure, frigates and land-based C4ISR.
Although the country allocated an average of 1.8% of its GDP to defense; it is expected to allocate an average of 4.6% of its total defense budget to capital expenditure and the remaining 95.4% for revenue expenses. The share of capital expenditure is expected to decrease to an average of 3.3% of the country's defense budget over the forecast period, with the remaining 96.7% being allocated to operating expenditure or revenue expenditure.
Companies Featured
- Industria Militar
- Sudamin S.A.
- Cotecmar
- Bell
Key Topics Covered
1. Introduction
2. Executive Summary
3. Market Attractiveness & Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Market Entry Strategy
7. Competitive Landscape & Strategic Insights
8. Business Environment & Country Risk
For more information about this report visit https://www.researchandmarkets.com/research/tr5s23/future_of_the?w=4
