DUBLIN, May 1, 2020 /PRNewswire/ — The “The Philippine Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2025” report has been added to ResearchAndMarkets.com’s offering.

This report offers detailed analysis of the Philippine defense market with market size forecasts covering the next five years. The report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following:

• The Philippine defense industry market size and drivers: detailed analysis of the India’s defense industry during 2021-2025, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns
• Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
• Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
• Market opportunities: list of the top ten defense investment opportunities over the next 5 years
• Competitive landscape and strategic insights: analysis of the competitive landscape of the Philippine defense industry.

The Philippines’ defense expenditure recorded a CAGR of 8.21% over the historic-period and stood at US$3.8 billion in 2020

Territorial claims in the South China Sea and the increasing strength and assertiveness of the Chinese armed forces have spurred the Philippine government to enhance its military capabilities. In order to achieve this, the Philippine government has approved the Horizon II program under which the Philippines Department of National Defense is expected to spend US$5.6 billion during 2018-2022 on the procurement of military hardware and the modernization of armed forces of the country.

Internal and external threats to the Philippines include the rise of terrorism, tensions in the South China Sea, and the illicit drug trade. Due to these factors, the Philippines is expected to increase its military and homeland security expenditure over the forecast period.

Key Highlights

• The Philippinesan defense market is expected to grow at a CAGR of 9.41% over the forecast period.
• The Philippine defense market has three major sectors: Infrastructure Construction, Airborne C4ISR, Multi-role Aircraft.
• Air and Naval forces modernization is expected to be key objective of the Philippines Horizon II program.

Companies Mentioned

• Raytheon
• United Defense Manufacturing Corporation
• Leonardo
• Remington Arms Company LLC
• ELTA Systems Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/apktug

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SOURCE Research and Markets