Analysis of Defense Sector in Japan: Growth, Trends Progress and Challenges (2018-2023)
The market is expected to grow at a Compounded Annual Growth Rate of X.XX% and will reach a market size of $ XX.XX billion by the year 2020.
With an annual defense budget in excess of $ 41 billion Japan has the 6th largest defense budget in the world. But this figure is in process of drastically changing as the Japanese government in order to counter rising influence and power of China is allocating record budget to defense every year. In 2016 the Japanese government has allocated $ 42.8 billion or 5.09 trillion yen for defense budget which is the highest ever defense budget.
Japan is expected to make high profile purchases and some of them include buying of the state of the art Boeing V 22 Osprey, the tilt rotor aircraft, 2o maritime patrol aircraft which will be the brand new Kawasaki P1 and the Advanced F 35 Lightning II fighter. Japan is aiming to be one of the most modern and advanced militaries and not just rely on high numbers.
In Japan C4ISR has emerged as one of the top priorities of the government over concerns over the activities of China and North Korea. Japan in order to better counter China has already set up a land based radar , electronics intelligence and signals intelligence facilities on the islands on the Ryukyu arc that stretch till Taiwan , very close to Chinese territory. Japan which for long had continued as a pacifist state, is now making huge advances in the defense space. In 2013 it spent more than 10 billion yen to upgrade electronic warfare and other similar equipment. Most of the harsware included in the budget will be purposed towards buying equipment which will monitor and repel any advances made on its territories and especially the Senkaku Island which has been claimed by China. Also on the buying list to protect and defend its territory are the Global Hawk drones, surveillance helicopters and advanced aeigis radar equipped destroyers.
The Air based systems will see the maximum rate of growth over 2020, and offers a lot of opportunities for the companies
Japan to counter China’s supremacy in the Asia Pacific region is on road to becoming one of the most advanced militaries in the world, and this will propel the growth in its Defense Market in the years to come.
What the report offers
1. Market analysis for the Japan Defense Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the Japan Defense Market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped