Market Report, "Malaysia Defence & Security Report Q1 2015", published
New Defense research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Fri Jan 30 2015] Defence Spending in Malaysia will be ramped up in 2015, with a 10% budgetary increase announced in October 2014. We expect a slight increase in procurement activity while the majority of the development budget will be dedicated to expanding existing projects. The release of a new five year development plan and a review of Malaysia's defence offsetting programme could yield changes for the indigenous defence sector when unveiled in 2015. Malaysia enjoys peace and stability with regards to internal and external security threats. Key concerns include continued incursions by Filipino groups and rising piracy in regional waters.
We expect import volumes to grow in 2015 in line with the 10% year-on-year (y-o-y) defence budget increase, announced in October 2014, with development expenditure for 2015 set at USD1.0bn compared to USD0.8bn in 2014. The government has yet to announce the specific breakdown of development expenditure, but we expect investment in maritime and aviation assets. The navy will see construction of six Second Generation Patrol Vessel-Littoral Combat Ships begin in Q115, with the steel for the ships to be cut at a plant in Holland before being shipped (in a complete building kit) to the Boustead Naval Shipyard. While Malaysia's air force is set to take delivery of the first of four Airbus A400M Atlas transport aircraft in early 2015.
Full Report Details at
Defence spending was a low priority under the 2014 budget, which was tailored by the ruling party to secure popular support ahead of the 2014 general election. As a result, various requests for financing by the armed forces have been denied and many programmes, such as the multirole combat fighter programme, have been put on hold while the government has been working on a new five-year national development plan, which will be released in June 2015. New defence procurement strategies will therefore be announced in line with the 11th Malaysia Plan (2016-2020). Defence officials have also ordered a review of...
The Malaysia 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 Malaysia Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Malaysian defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on Malaysia to test other views - a key input for successful budgetary and strategic business planning in the Malaysian defence and security market.
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