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Rapidly Evolving Defence Markets, Part 2

Rapidly Evolving Defence Markets, Part 2

Following years of continued economic and military growth, the selected rapidly evolving countries will steadily increase military spending as each confronts the challenges of deterring external threats, addressing modernisation requirements, and supporting the local industrial base.

The 5 selected countries—Angola, Azerbaijan, Peru, Qatar, and South Korea—are expected to spend more than $􂀀 billion in total on defence between 2015 and 2025. Forecast military expenditures are expected to grow at a compound annual growth rate (CAGR) of 􂀀% from 2015 to 2025.

New equipment funding will grow at a fast pace—a CAGR of 􂀀%—principally driven by South Korea and Qatar acquisition programmes. An average of $􂀀 billion is expected to be spent annually by all 􂀀 countries.

Operations and maintenance (O&M) spending will be more measured, increasing at a CAGR of 􂀀%, with more than $􂀀 billion to be spent annually by all 􂀀 countries to maintain ageing fleets and prepare their armed forces to address rising external threats. Ensuring good serviceability rates is a priority driving O&M spending, but this objective remains difficult to address due to urgent threats, training requirements, and modernisation programmes.

About this report

In this 2015 edition, 10 new countries with rapidly evolving defence spending have been selected. This study comprises a thorough market assessment for 2015-2025 of Angola, Azerbaijan, Peru, Qatar, and South Korea, including projected defence spending by appropriation: procurement (equipment), personnel, operations and maintenance, infrastructure, and research and development. Each chapter includes a country outlook and overviews of the military environment, domestic programmes, key local participants, capability gaps that should be closely monitored, and evolution of the local supply chain. The other 5 countries (Colombia, Kuwait, Malaysia, Morocco, and Singapore) are assessed in the Rapidly Evolving Defence Markets, Part 1 study.


  • Executive Summary
    • Key Findings
    • Executive Summary-Market Engineering Measurements
    • Executive Summary-CEO's Perspective
  • Market Overview
    • Market Overview-Study Scope
    • Market Overview-Definitions and Country Selection Process
    • Market Overview-Defence Budget
    • Market Overview-Defence Budget Definitions
    • Market Overview-Key Questions This Study Will Answer
  • 5 Countries' Defence Spending Overview
    • Market Engineering Measurements
    • Total Market-Forecast Methodology
    • Total Market-Most Common Challenges Affecting the Selected Countries
    • Total Market-Defence Budget Forecast by Country
      • Table Rapidly Evolving Defence Markets: Defence Budget Forecast, Selected Countries, 2015-2025
    • Total Market-Defence Budget Forecast by Country Analysis
  • Angola
    • Country Outlook
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
    • Procurement Process and Decision Makers
    • Defence Spending Projections by Budget Appropriation
      • Table Rapidly Evolving Defence Markets: Spending Projections by Budget Appropriation, Angola, 2015-2025
    • Defence Spending Projections by Budget Appropriation Discussion
    • Priority Programmes to Track
    • Competition and Programmes Map
    • Competitive Landscape-Key Established Participants
    • Conclusion
    • Strategic Evolution
  • Azerbaijan
    • Country Outlook
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
    • Procurement Process and Decision Makers
    • Defence Spending Projections by Budget Appropriation
      • Table Rapidly Evolving Defence Markets: Spending Projections by Budget Appropriation, Azerbaijan, 2015-2025
    • Defence Spending Projections by Budget Appropriation Discussion
    • Priority Programmes to Track
    • Competition and Programmes Map
    • Competitive Landscape-Key Established Participants
    • Competitive Landscape-Key Foreign Partnerships
    • Conclusion
    • Strategic Evolution
  • Peru
    • Country Outlook
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
    • Procurement Process and Decision Makers
    • Defence Spending Projections by Budget Appropriation
      • Table Rapidly Evolving Defence Markets: Spending Projections by Budget Appropriations, Peru, 2015-2025
    • Defence Spending Projections by Budget Appropriation Discussion
    • Priority Programmes to Track
    • Competition and Programmes Map
    • Competitive Landscape-Key Established Participants
    • Conclusion
    • Strategic Evolution
  • Qatar
    • Country Outlook
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
    • Procurement Process and Decision Makers
    • Defence Spending Projections by Budget Appropriation
      • Table Rapidly Evolving Defence Markets: Spending Projections by Budget Appropriation, Qatar, 2015-2025
    • Defence Spending Projections by Budget Appropriation Discussion
    • Priority Programmes to Track
    • Competition and Programmes Map
    • Competitive Landscape-Key Established Participants
    • Conclusion
    • Strategic Evolution
  • South Korea
    • Country Outlook
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
    • Procurement Process and Decision Makers
    • Defence Spending Projections by Budget Appropriation
      • Table Rapidly Evolving Defence Markets: Spending Projections by Budget Appropriation, South Korea, 2015-2025
    • Defence Spending Projections by Budget Appropriation Discussion
    • Priority Programmes to Track
    • Competition and Programmes Map
    • Competitive Landscape-Key Established Participants (Air)
    • Competitive Landscape-Key Established Participants (Land)
    • Competitive Landscape-Key Established Participants (Systems)
    • Competitive Landscape-Key Established Participants (Naval)
    • Conclusion
    • Strategic Evolution
  • Conclusion
    • Conclusion-Routes to Market 2015
    • Conclusion-Routes to Market 2015 Analysis
    • Conclusion-Routes to Market 2025
    • Conclusion-Routes to Market 2025 Analysis
  • Appendix
    • Abbreviation and Acronym List

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