This report is the result of SDI's extensive market and company research covering the Taiwanese defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
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Introduction and Landscape
Why was the report written?
The Future of the Taiwanese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Taiwanese defense industry.
What is the current market landscape and what is changing?
With a defense budget of US$10.5 billion in 2013, Taiwan is expected to cumulatively spend a US$59.2 billion on its military over the forecast period. The country's military expenditure is estimated to grow at a CAGR of 4.15% to reach US$12.9 billion by 2018, compared to 2.15% CAGR recorded during the review period. PRC's assertiveness with regards to territorial claims and the need to modernize Taiwan's armed forces to deter PRC from invading the country. In addition, Taiwan is expected to increase its allocation to capital expenditure to an average of 6.4% of its total defense budget, consequently reducing the share of revenue expenditure to 93.6% over the forecast period. On a cumulative basis, the country is estimated to spend US$3.8 billion over the forecast period, compared to US$2.99 billion spent on procuring defense equipment during the review period. Taiwan is focusing on local development of submarines, missiles, air defense systems, and third generation fighter aircraft. Additionally, Taiwan is upgrading its F-16 A/B fleet to prolong their service life and equip them with modern radars and other equipment.
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