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Future of the Philippines Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2022

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Future of the Philippines' Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2022

The Future of the Philippines Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2022, published by Strategic Defence Intelligence, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

Synopsis

This report offers detailed analysis of the Philippines defense industry with market size forecasts covering the next five years. This 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 Philippines defense industry market size and drivers: detailed analysis of the Philippines defense industry during 2018-2022, 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

Porter's Five Force analysis of the Philippines defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry

Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years

Market opportunities: details of the top five defense investment opportunities over the next 10 years

Competitive landscape and strategic insights: analysis of the competitive landscape of the Philippines defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Scope

The defense budget of Philippines for the year 2017 is USD2.9 billion. For the historic period, 2013-2017, the defense budget of the country registered a CAGR of 11.55%. The defense budget is currently being driven by efforts to modernize the army, threats from terrorist organizations, and tensions in the South China Sea.

During the historic period, the Philippines MoD allocated an average of 38.5% of the total defense budget to capital expenditure, while an average of 61.5% was reserved for revenue expenditure. Over the forecast period, allocation towards capital expenditure is expected to increase at an average of 40.9%.

The MoD is expected to invest in multi-role aircraft, diesel electric submarines and infrastructure construction.

Reasons to buy

This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Philippines 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

Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector

A deep qualitative analysis of the Philippines defense industry covering sections including demand drivers, Porter's Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

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Table Of Content

Scope

Table of Contents

1. Introduction

1.1. What is this Report About?

1.2. Definitions

1.3. Summary Methodology

1.4. About Strategic Defence Intelligence

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities

3.1. Current Market Scenario

3.1.1. Primary threat perception

3.1.2. Military doctrine and strategy

3.1.3. Military fleet size

3.1.4. Procurement Programs

3.1.5. Social, political and economic environment and support for defense projects

3.1.6. Political and strategic alliances

3.2. Defense Market Size Historical and Forecast

3.2.1. The Philippines' defense budget to grow at a forecast-period CAGR of 12.49%

3.2.2. Tensions in the South China Sea and modernization initiatives to drive the defense industry

3.2.3. Defense budget as a percentage of GDP to remain at an average of 0.87% over the forecast period

3.3. Analysis of Defense Budget Allocation

3.3.1. Share of capital expenditure will increase over the forecast period

3.3.2. Capital expenditure is anticipated to record a forecast-period CAGR of 12.94%

3.3.3. The army accounted for the largest percentage share of the overall Philippines' defense budget

3.3.4. Army defense expenditure to reach USD2.0 billion in 2022

3.3.5. Per capita defense expenditure to rise over the forecast period

3.4. Homeland Security Market Size and Forecast

3.4.1. The homeland security market will post a forecast-period CAGR of 9.12%

3.4.2. Illicit drug trade drives homeland security expenditure

3.4.3. The Philippines falls under the highly affected category in the terrorism index

3.4.4. The Philippines faces threats from terrorist organizations

3.4.5. The Philippines has a terrorism index score of 7.1

3.5. Benchmarking with Key Global Markets

3.5.1. The Philippines ranks among the world's key global defense markets

3.5.2. The Philippines' defense expenditure is relatively smaller than other Asia countries

3.5.3. The defense budget as a percentage of GDP to decline over the forecast period

3.6. Market Opportunities: Key Trends and Drivers

3.6.1. Multi-role aircraft

3.6.2. Diesel electric submarines

3.6.3. Infrastructure construction

4. Defense Procurement Market Dynamics

4.1. Import Market Dynamics

4.1.1. Limited domestic defense capabilities to drive the country's defense imports

4.1.2. The US, Indonesia and South Korea are the major suppliers for the Philippines

4.1.3. Aircraft and ships accounted for 90.0% of defense imports

4.2. Export Market Dynamics

4.2.1. No defense exports for the Philippines

5. Industry Dynamics

5.1. Five Forces Analysis

5.1.1. Bargaining power of suppliers: low

5.1.2. Bargaining power of buyers: medium

5.1.3. Barrier to entry: low to medium

5.1.4. Intensity of rivalry: low to medium

5.1.5. Threat of substitution: high

5.2. Market Regulation

5.2.1. Countertrade/offset policy aids the development of the domestic defense industry

5.2.2. Government unveils new procurement rules

5.3. Market Entry Route

5.3.1. Budgeting process

5.3.2. Procurement Policy and Process

5.3.3. Foreign military sales (FMS)

5.3.4. Collaborations provide market entry opportunities

5.4. Key Challenges

5.4.1. Increase in corruption and lack of transparency impedes industry growth

6. Competitive landscape and Strategic Insights

6.1. Competitive landscape Overview

6.2. Key Companies

6.2.1. United Defense Manufacturing Corporation: overview

6.2.2. United Defense Manufacturing Corporation: key products

6.2.3. United Defense Manufacturing Corporation: recent announcements and strategic initiatives

6.2.4. Leonardo: overview

6.2.5. Leonardo: products and services

6.2.6. Leonardo: recent announcements and strategic initiatives

6.2.7. Leonardo-Finmeccanica: recent contract wins

6.2.8. Remington Arms Company, LLC: overview

6.2.9. Remington Arms Company, LLC: key products and services

6.2.10. Remington Arms Company, LLC: Recent Contract Wins

6.2.11. ELTA Systems Ltd: overview

6.2.12. ELTA Systems Ltd: key products and services

6.2.13. ELTA Systems Ltd: Recent Contract Wins

6.2.14. Raytheon: overview

6.2.15. Raytheon: products

6.2.16. Raytheon: Recent Contract Wins

7. Business Environment and Country Risk

7.1. Economic Performance

7.1.1. GDP per capita at constant prices (USD)

7.1.2. GDP at current prices (USD)

7.1.3. Exports of goods and services

7.1.4. Imports of goods and services

7.1.5. Gross national disposable income (USD billions)

7.1.6. LCU per USD (period average)

7.1.7. Market capitalization of listed companies (USD billions)

7.1.8. Market capitalization of listed companies (percentage of GDP)

7.1.9. Government cash surplus/deficit as a percentage of GDP (LCU)

7.1.10. Goods exports as a percentage of GDP

7.1.11. Goods imports as a percentage of GDP

7.1.12. Service imports as a percentage of GDP

7.1.13. Services exports as a percentage of GDP

7.1.14. Foreign direct investment (FDI), net (BoP, current USD billions)

7.1.15. Net FDI as a percentage of GDP

7.1.16. Mining, manufacturing, utilities output (PHP trillion)

8. Appendix

8.1. About SDI

8.2. Disclaimer


List Of Figure

List of Figures

Figure 1: The Philippines-Defense Expenditure (PHP Billion), 2013-2022

Figure 2: Philippines Defense Expenditure (USD Billion), 2013-2022

Figure 3: Philippines GDP Growth and Defense Expenditure as Percentage of GDP Growth (%), 2013-2022

Figure 4: The Philippines-Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2022

Figure 5: The Philippines-Defense Capital Expenditure (PHP Billion), 2013-2022

Figure 6: The Philippines-Defense Capital Expenditure (USD Billion), 2013-2022

Figure 7: The Philippines-Defense Budget Split, Army, Navy, Air Force and Other Expenditure, 2013-2022

Figure 8: The Philippines-Defense Budget, by Service (PHP Billion), 2013-2022

Figure 9: The Philippines-Defense Budget by Service (USD Billion), 2013-2022

Figure 10: The Philippines-Per Capita Defense Expenditure (USD), 2013-2022

Figure 11: The Philippines-Homeland Security Expenditure (PHP Billion), 2013-2022

Figure 12: The Philippines-Homeland Security Expenditure (USD Billion), 2013-2022

Figure 13: Terrorism Heat Map, 2017

Figure 14: Terrorism Index, 2017

Figure 15: The Philippines-Benchmarked Against Key Markets (%), 2013-2017 vs. 2018-2022

Figure 16: Defense Expenditure of the World's Largest Military Spenders (USD Billion), 2017 and 2022

Figure 17: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2017

Figure 18: The Philippines-Multi-Role Aircraft Market Size (USD Million), 2017-2024

Figure 19: The Philippines-Diesel Electric Submarine Market Size (USD Million), 2017-2027

Figure 20: The Philippine-Infrastructure Construction Market Size (USD Million), 2017-2027

Figure 21: The Philippines-Defense Imports (USD Million), 2012-2016 (TIV values)

Figure 22: The Philippines-Defense Imports by Country (%), 2012-2016

Figure 23: The Philippines-Defense Imports by Category (%), 2012-2016

Figure 24: Industry Dynamics-Porter's Five Forces Analysis

Figure 25: The Philippines-GDP Per Capita at Constant Prices (USD), 2015-2025

Figure 26: The Philippines-GDP at Current Prices (USD Billion), 2015-2025

Figure 27: The Philippines-Exports of Goods and Services (PHP Billion), 2005-2014

Figure 28: The Philippines-Imports of Goods and Services (USD), 2005-2014

Figure 29: The Philippines-Gross National Disposable Income (USD Billion), 2009-2012

Figure 30: The Philippines-LCU per USD, 2015-2024

Figure 31: The Philippines-Market Capitalization of Listed Companies (USD Billion), 2005-2012

Figure 32: The Philippines-Market Capitalization of Listed Companies (Percentage of GDP), 2005-2012

Figure 33: The Philippines-Government Cash Surplus/Deficit as a Percentage of GDP (LCU), 2005-2012

Figure 34: The Philippines-Goods Exports as a Percentage of GDP (%), 2005-2014

Figure 35: The Philippines-Goods Imports as a Percentage of GDP (%), 2005-2014

Figure 36: The Philippines-Services Imports as a Percentage of GDP (%), 2005-2014

Figure 37: The Philippines-Services Exports as a Percentage of GDP (%), 2005-2014

Figure 38: The Philippines-FDI, Net (BoP, Current USD Billion), 2005-2014

Figure 39: The Philippines-Net FDI as a Percentage of GDP, 2005-2014

Figure 40: The Philippines-Mining, Manufacturing, Utilities Output (PHP Trillion), 2005-2014


List Of Table

List of Tables

Table 1: The Philippines Ground Forces Strength

Table 2: Philippines Air Force Strength

Table 3: Philippines Navy Strength

Table 4: The Philippines-Ongoing Development and Procurement Programs (USD Million), 2014-2018

Table 5: The Philippines-Future Procurement Programs

Table 6: The Philippines-Defense Expenditure (PHP Billion and USD Billion), 2013-2022

Table 7: The Philippines-GDP Growth and Defense Expenditure as Percentage of GDP Growth (%), 2013-2022

Table 8: The Philippines-Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2022

Table 9: The Philippines-Defense Capital Expenditure (PHP Billion & USD Billion), 2013-2022

Table 10: The Philippines-Defense Budget Split by Army, Navy, Air Force, and Other Expenditure (%), 2013-2022

Table 11: Philippines Defense Budget in PHP Billion-Breakdown by Services (Army, Navy, Air Force and Others) 2013-2022 36

Table 12: The Philippines-Defense Budget by Services (USD Billion), 2013-2022

Table 13: The Philippines-Per Capita Defense Expenditure (USD), 2013-2022

Table 14: The Philippines-Homeland Security Expenditure (PHP Billion and USD Billion), 2013-2022

Table 15: Terrorism Index

Table 16: The Philippines-Benchmarked Against Key Markets, 2013-2017 vs. 2018-2022

Table 17: The Philippines-Countertrade/Offset Regulations

Table 18: Philippines Budget Formation Timetable

Table 19: FMS deals to Philippines

Table 20: Competitive Landscape of the Philippines Defense Industry

Table 21: United Defense Manufacturing Corporation-Key Products

Table 22: Leonardo-Key Products

Table 23: Leonardo-Finmeccanica-Recent Contract Wins

Table 24: Remington Arms Company, LLC: Key Products

Table 25: Remington Arms Company, LLC.-Recent Contract Wins

Table 26: ELTA Systems Ltd: Key Products

Table 27: ELTA Systems Ltd-Recent Contract Wins

Table 28: Raytheon-Key Products

Table 29: Raytheon-Recent Contract Wins

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Products and Companies

Products

Defense, Budget, Offset, Regulation, Capital Expenditure, Homeland, Drivers, Market Opportunities, Procurement, Entry Route, Key Challenge, Announcements, Alliances, Contract Awards, Financial Analysis, Business Environment


Companies

United Defense Manufacturing Corporation (UDMC)

Leonardo

Remington Arms Company

ELTA Systems Ltd

Raytheon