Singapore Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2025-2030

Singapore Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2025-2030

Summary

Singapore Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2025-2030 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Singapore's defense budget has demonstrated a robust growth pattern, with a significant allocation of $17.7 billion in 2025. This figure is indicative of the country's commitment to maintaining its strategic defense capabilities and readiness. The defense budget has seen a substantial Compound Annual Growth Rate (CAGR) of 11.7% during the historic period from 2021 to 2025, reflecting the nation's prioritization of defense amidst evolving regional security dynamics and global technological advancements.Looking ahead, the defense budget is anticipated to continue its upward trajectory, albeit at a moderated growth rate. Projections indicate an increase from $18.4 billion in 2025 to $21.6 billion by 2030, growing at a CAGR of 4%. This forecasted growth rate suggests a more measured approach to defense spending, potentially aligning with broader economic trends and the maturation of defense programs initiated in the historic period.

Singapore has consistently allocated a significant portion of its defense budget to capital expenditure, averaging 18.7%. This allocation underscores the nation's strategy to invest in long-term assets such as advanced weaponry, military infrastructure, and technology development. The defense budget for 2021 earmarked $2.1 billion for capital expenditure, which saw a substantial increase to $3.3 billion by 2025, demonstrating the country's focus on modernizing and enhancing its defense capabilities.The capital expenditure component of Singapore's defense budget is projected to grow rapidly, reaching an estimated $4.1 billion by 2030. This projected increase is indicative of Singapore's ongoing commitment to investing in state-of-the-art defense systems and infrastructure. The focus on capital expenditure is likely to support the acquisition of new technology and the upgrading of existing military assets, ensuring that Singapore's defense forces remain well-equipped to address future security challenges.

Key Highlights

• Drivers of Threats posed by terrorist organizations such as Jemaah Islamiyah (JI) and regional terrorist groups, Acquisition of military equipment, Overseas training of armed force and Participation in international peace-building missions and disaster relief operations. Defense expenditure include Modernization of armed forces, terrorism and cybersecurity, territorial disputes, peacekeeping operations and natural disasters
• Major ongoing procurement program include procurement of F-35B Lightning II, Multi-Role Combat Vessels (MRCVs) and Next-Generation AFV - Hunter AFV

Scope

This report offers a detailed analysis of Singapore's defense market, with market size forecasts covering the next five years. It also offers insights into the strategy, security environment and defense market dynamics of the country. Various sections covered in the report are as follows -

• Defense Budget Assessment: This chapter covers the defense budgeting process, market size forecasts, drivers of expenditure, and allocation analysis. It also examines key market trends and insights.
• Military Doctrine and Security Environment: Detailed analysis of military doctrine, strategic alliances, geopolitical dynamics, and the political, social, and economic factors influencing the security environment.
• Market Entry Strategy and Regulations: This section elaborates on essential aspects of procurement policy and market regulations, market entry routes, key defense procurement bodies and major deals.
• Market attractiveness and emerging opportunities: It evaluates the attractiveness of various defense sectors, indicating cumulative market value, and highlights the top sectors and defense segments by value in the country.
• Defense Platforms Import and Export Dynamics: Provides an understanding of the defense platform imports and exports of the country from 2016 to 2023. Both imports and exports of the country are provided in terms of value ($M) and volume (units), categorized by country and sector.
• Defense Platform Acquisitions: It offers an overview of defense platform acquisitions by value. It lists current defense procurement schedules for the major ongoing and planned military platforms that have been formulated in the country and elaborates on the reasons leading to the procurement of the same.
• Fleet Size: Outlines the current fleet sizes of the Army, Air Force, and Navy, detailing the year of acquisition, units in service, and the prime contractor for the equipment.
• Competitive Landscape: Profiles the main defense companies operating in the country, offering insights into their business overviews, latest contracts, and financial results.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Singapore defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Singapore market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Singapore defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Singapore government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available