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Philippines Defence and Security Report 2017

Philippines Defence and Security Report 2017

BMI View: Given President Duterte's recognition of the need to address military capability gaps identifiedunder the former government's modernisation plan; his apparent favouring of a more independent foreignpolicy; and his vow to address internal security threats, Philippine defence spending looks set see steadygrowth in coming years - facilitated by robust overall real GDP expansion. Modernisation efforts will focuson counterterrorism/insurgency in the short term, but increasingly shift towards the naval and air powersegments over the longer term, as Manila works to boost protection of its air space and waters. Amiddefence spending increases, growing international involvement with the local sector and strongergovernment support for its development, the outlook for Philippine military manufacturers is brightening.

Key Developments:

For 2018, the Duterte administration has proposed a 5.5% y-o-y increase in its core defence budget, toPHP145bn (USD2.9bn). Similar to previous years, around PHP25bn is to be allocated for militarymodernisation.


BMI Industry View
Table: Headline Defence Expenditure Forecasts (Philippines 2017-2021)
SWOT
Defence Industry SWOT
Industry Forecast
Defence Expenditure
Table: Defence Expenditure (Philippines 2016-2020)
Table: Defence Expenditure (Philippines 2021-2026)
Defence Trade
Industry Risk Reward Index
Defence Industry Risk Reward Index
Table: Asia Pacific Defence Risk Reward Index
Rewards
Risks
Market Overview
Defence Market Overview
Domestic Defence Sector
Domestic Defence Market
Armed Forces Overview
Armed Forces
Table: Manpower Available For Military Service (Philippines 2017-2026) ('000)
Table: Philippine Armed Forces - UN Peacekeeping Deployments
Security Overview
Domestic Threats
External Threats And Foreign Relations
Company Profile
Arms Corporation of the Philippines (Armscor)
Government Arsenal
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Sector-Specific Methodology
Table: Defence Risk/Reward Index Indicators
Weighting
Table: Weighting of Defence Risk Reward Index

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