Bangladesh is an emerging market-based economy, which aims to significantly develop its economic, social, and human infrastructure to transform itself into a prosperous country over the coming decades. To protect itself from external threats and maintain internal stability, the government allocated an average of 1.3% of its GDP towards defense purposes during the historic period. Over the forecast period, the country’s defense budget is anticipated to value US$24.3 billion cumulatively.
The Bangladeshi government has been steadily increasing its defense budget. Defense expenditure registered a CAGR of 10.72% during 2014–2018. This trend is expected to continue during the forecast period, owing to the government’s well-defined military modernization plans to better equip its armed forces. Over the forecast period, the defense budget is projected to increase to US$6 billion in 2023, at a CAGR of 11.60%. Despite a rapidly growing population, the country’s per capita defense expenditure is also expected to increase to US$34.4 in 2023.
The country’s budget for homeland security (HLS) is projected to increase over the forecast period, driven by increasing threats from arms and drug trafficking and terrorism. Demand for equipment over the forecast period is mainly expected to revolve around aircraft, helicopters, naval vessels, unmanned aerial vehicles, missiles, artillery surveillance and monitoring equipment.
The Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2023, provides readers with detailed analysis of both historic and forecast defense industry values, 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 Bangladeshi defense industry market size and drivers: detailed analysis of the Bangladeshi defense industry during 2019–2023, 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 Bangladeshi defense industry.
- Companies Mentioned - Bangladesh Ordnance Factory, Leonardo, Airbus Helicopters SAS.
- The Bangladeshi government has been steadily increasing its defense budget. Defense expenditure registered a CAGR of 10.72% during 2014-2018.
- The country allocated US$2.3 billion to its defense sector in 2014, which increased to US$3.5 billion in 2018.
- This trend is expected to continue during the forecast period, owing to the government’s well-defined military modernization plans to better equip its armed forces.
- Over the forecast period, the defense budget is projected to increase from US$3.9 billion in 2019 to US$6 billion in 2023, at a CAGR of 11.60%. Despite a rapidly growing population, the country’s per capita defense expenditure is also expected to increase from US$23.1 in 2019 to US$34.4 in 2023.
Reasons To Buy
- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Bangladeshi defense industry market trends for the coming five years
- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
- Profiles of the top domestic and foreign defense manufacturers . This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the Bangladeshi defense industry covering sections including demand drivers, Key Trends , and latest industry contracts