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Future of the Bangladeshi Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

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Date: 23-Aug-2018
No. of pages: 100
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Summary

The Future of the Bangladeshi Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023, 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 Bangladeshi 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 Bangladeshi defense industry market size and drivers: detailed analysis of the Bangladeshi defense industry during 2019-2023, 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

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

  • Market opportunities:list of the top ten defense investment opportunities over the next 5 years

  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Bangladeshi defense industry.


Scope


  • The Bangladeshi government has been steadily increasing its defense budget. Defense expenditure registered a CAGR of 10.72% during 2014-2018.

  • The country allocated US$2.3 billion to its defense sector in 2014, which increased to US$3.5 billion in 2018.

  • This trend is expected to continue during the forecast period, owing to the government's well-defined military modernization plans to better equip its armed forces.

  • Over the forecast period, the defense budget is projected to increase from US$3.9 billion in 2019 to US$6 billion in 2023, at a CAGR of 11.60%. Despite a rapidly growing population, the country's per capita defense expenditure is also expected to increase from US$23.1 in 2019 to US$34.4 in 2023.


Reasons to buy


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

  • Profiles of the top domestic and foreign defense manufacturers . This will provide the user with a total competitive landscape of the sector

  • A deep qualitative analysis of the Bangladeshi defense industry covering sections including demand drivers, Key Trends , and latest industry contracts

Future of the Bangladeshi Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Table of Contents

1. Introduction 7
1.1. What is this Report About? 7
1.2. Definitions 7
1.3. Summary Methodology 9
1.4. About Strategic Defence Intelligence 10

2. Executive Summary 11

3. Market Attractiveness and Emerging Opportunities 13
3.1. Current Market Scenario 14
3.1.1. Primary Threat Perception 14
3.1.2. Military Doctrine & Strategy 16
3.1.3. Military Fleet Size 17
3.1.4. Procurement Programs 21
3.1.5. Top Procurement Programs by Value (US$ Million) 2018-2023 23
3.1.6. Social, Political and Economic Environment & Support for Defense Projects 24
3.1.7. Political and Strategic Alliances 25
3.2. Defense Market Size Historical and Forecast 26
3.2.1. The Bangladeshi defense budget is anticipated to grow at a CAGR of 11.60% 26
3.2.2. Military modernization and peacekeeping missions are anticipated to drive defense expenditure over the forecast period 28
3.2.3. Bangladeshi defense expenditure as a percentage of GDP set to increase over the forecast period 29
3.3. Analysis of Defense Budget Allocation 31
3.3.1. Capital expenditure allocation is expected to increase slightly over the forecast period 31
3.3.2. Need to replace obsolete equipment to drive defense capital expenditure 33
3.3.3. Army Defense accounted for the largest percentage share of the overall defense budget 35
3.3.4. Army to account for the majority share of Bangladesh's defense budget 37
3.3.5. Per capita defense expenditure expected to increase over the forecast period 41
3.4. Homeland Security Market Size and Forecast 42
3.4.1. Bangladeshi homeland security expenditure is anticipated to grow at a CAGR of 8.44% over the forecast period 42
3.4.2. Measures to combat drug smuggling and human trafficking are expected to drive Bangladeshi homeland security expenditure 44
3.4.3. Bangladesh falls under the "highly affected" category 46
3.4.4. Bangladesh is "highly affected" by acts of terrorism 47
3.4.5. Bangladesh has a terrorism index score of "6.2" 49
3.5. Benchmarking with Key Global Markets 50
3.5.1. Bangladeshi defense budget expected to increase at a CAGR of 11.60% over the forecast period 50
3.5.2. Bangladeshi military expenditure remains very low compared to other Asian countries 52
3.5.3. The country allocates a low percentage of its GDP towards the defense sector 53
3.6. Market Opportunities: Key Trends and Growth Stimulators 54
3.6.1. Top 10 Defense Market Categories by Value (US$ million) - Forecast-Period Projections 54
3.6.2. Maritime surveillance and detection 55
3.6.3. Corvettes MRO 56
3.6.4. Multi-role aircraft 57

4. Defense Procurement Market Dynamics 58
4.1. Import Market Dynamics 60
4.1.1. Defense imports are expected to increase over the forecast period 60
4.1.2. Weapons manufactured in China comprised the majority of imports to Bangladesh 61
4.1.3. Armored vehicles and ships dominated military hardware imports 62
4.2. Export Market Dynamics 63
4.2.1. The country exported negligible defense goods during 2013-2017 63

5. Industry Dynamics 64
5.1. Five Forces Analysis 64
5.1.1. Bargaining Power of Supplier: High 65
5.1.2. Bargaining Power of Buyer: Low 65
5.1.3. Barrier to Entry: Medium 65
5.1.4. Intensity of Rivalry: Low to Medium 65
5.1.5. Threat of Substitution: Medium to High 65
5.2. Market Regulation 66
5.2.1. Bangladesh does not disclose any offset obligations imposed by the country 66
5.2.2. Foreign direct investment (FDI) in the defense sector not disclosed by the government 66
5.3. Market Entry Route 67
5.3.1. Budgeting Process 67
5.3.2. Equipment manufacturers enter the market through government-to-government deals 68
5.3.3. Joint venture and license manufacturing agreements provide an attractive market entry route 68
5.4. Key Challenges 69
5.4.1. Limited defense budget deters investors from market entry 69
5.4.2. Corruption hinders growth of the Bangladeshi defense sector 69
5.4.3. Chinese companies dominate the market, creating a challenge for other foreign firms 69

6. Competitive Landscape and Strategic Insights 70
6.1. Competitive Landscape Overview 70
6.2. Key Companies 72
6.2.1. Bangladesh Ordnance Factory: Overview 72
6.2.2. Bangladesh Ordnance Factory: Products and Services 72
6.2.3. Bangladesh Machine Tools Factory (BMTF) Ltd: Overview 73
6.2.4. Bangladesh Machine Tools Factory: Products and Services 73
6.2.5. Leonardo: Overview 74
6.2.6. Leonardo: products 74
6.2.7. Leonardo: recent announcements and strategic initiatives 75
6.2.8. Leonardo: alliances 76
6.2.9. Leonardo: recent contract wins 77
6.2.10. Leonardo: financial analysis 80
6.2.11. Airbus Helicopters SAS: Overview 83
6.2.12. Airbus Helicopters SAS: Products and Services 83
6.2.13. Airbus Helicopters SAS: Recent Contract Wins 83

7. Business Environment and Country Risk 84
7.1. Economic Performance 84
7.1.1. Nominal GDP per Capita 84
7.1.2. GDP at Current Prices (US$ Billion) 85
7.1.3. Exports of Goods and Services (Current LCU Billion) 86
7.1.4. Imports of Goods and Services (Current LCU Billion) 87
7.1.5. Gross National Disposable Income (US$ Billion) 88
7.1.6. LCU per US$ (Period Average) 89
7.1.7. Market Capitalization of Listed Companies (US$ Billion) 90
7.1.8. Market Capitalization of Listed Companies (% of GDP) 91
7.1.9. Government Cash Surplus/Deficit as a Percentage of GDP (LCU) 92
7.1.10. Goods Exports as a Percentage of GDP 93
7.1.11. Goods Imports as a Percentage of GDP 94
7.1.12. Services Imports as a Percentage of GDP 95
7.1.13. Service Exports as a Percentage of GDP 96
7.1.14. Foreign Direct Investment, Net (BoP, current US$ Billion) 97
7.1.15. Net Foreign Direct Investment as a Percentage of GDP 98
7.1.16. Mining, Manufacturing, Utilities Output (LCU Billion) 99

8. Appendix 100
8.1. About SDI 100
8.2. Disclaimer 100

List of Tables

Table 1: Bangladeshi Ground Forces Strength 17
Table 2: Bangladesh Navy Strength 19
Table 3: Bangladesh Air Force Strength 20
Table 4: Bangladeshi - Ongoing Development and Procurement Programs 21
Table 5: Bangladesh - Future Procurement Programs 22
Table 6: Bangladesh - Defense Procurement Programs by Value (US$ Million), 2018-2023 23
Table 7: Bangladeshi Defense Expenditure (BDT Billion & US$ Billion), 2014-2023 26
Table 8: Bangladeshi GDP Growth and Defense Expenditure as a Percentage of GDP Growth, 2014-2023 29
Table 9: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 31
Table 10: Bangladesh Defense Capital Expenditure (BDT Billion & US$ Billion), 2014-2023 33
Table 11: Bangladeshi Defense Budget Split Between Military Services (Army, Air Force, Navy and Others) (%), 2014-2023 35
Table 12: Bangladesh - Defense Budget Breakdown by Service (BDT Billion), 2014-2023 37
Table 13: Bangladesh - Defense Budget Breakdown by Service ( US$ Billion), 2014-2023 39
Table 14: Bangladeshi Per Capita Defense Expenditure (US$), 2014-2023 41
Table 15: Bangladeshi Homeland Security Expenditure (BDT Billion & US$ Billion), 2014-2023 42
Table 16: Terrorism Index, 2018 47
Table 17: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 50
Table 18: Bangladesh - 10 Leading Defense Market Categories by Value (US$ Million), 2018-2023 54
Table 19: Bangladeshi Budget Formation Timetable 67
Table 20: Bangladesh - Top Defense Suppliers by Value (US$ Million), 2018-2023 70
Table 21: Competitive Landscape of the Bangladeshi Defense Industry 71
Table 22: Bangladesh Ordnance Factory - Key Products and Services 72
Table 23: Bangladesh Machine Tools Factory - Key Products and Services 73
Table 24: Leonardo - Product Focus 74
Table 25: Leonardo - Alliances 76
Table 26: Leonardo- Recent Contract Wins 77
Table 27: Airbus Helicopters SAS - Key Products and Services 83
Table 28: Airbus Helicopters SAS - Recent Contracts 83

List of Figures

Figure 1: Bangladeshi Defense Expenditure (BDT Billion), 2014-2023 27
Figure 2: Bangladeshi Defense Expenditure (US$ Billion), 2014-2023 27
Figure 3: Bangladeshi GDP Growth vs. Defense Expenditure as Percentage of GDP, 2014-2023 30
Figure 4: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 32
Figure 5: Bangladeshi Defense Capital Expenditure (BDT Billion), 2014-2023 34
Figure 6: Bangladeshi Defense Capital Expenditure (US$ Billion), 2014-2023 34
Figure 7: Bangladeshi Defense Budget Split Between Army, Air Force, Navy and Others, 2014-2023 36
Figure 8: Bangladesh - Defense Budget Breakdown by Service (BDT Billion), 2014-2023 38
Figure 9: Bangladesh. - Defense Budget Breakdown by Service (US$ Billion), 2014-2023 40
Figure 10: Bangladeshi Per Capita Defense Expenditure (US$), 2014-2023 41
Figure 11: Bangladeshi Homeland Security Expenditure (BDT Billion), 2014-2023 43
Figure 12: Bangladeshi Homeland Security Expenditure (US$ Billion), 2014-2023 43
Figure 13: Terrorism Heat Map, 2018 46
Figure 14: Terrorism Index, 2018 49
Figure 15: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 51
Figure 16: Defense Expenditure of the World's Largest Military Spenders (US$ Billion), 2018 and 2023 52
Figure 17: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 53
Figure 18: Maritime surveillance and detection Market Size (US$ million), 2018-2023 55
Figure 19: Corvettes MRO Market Size (US$ million), 2018-2023 56
Figure 20: Multi-role aircraft market Size (US$ million), 2018-2023 57
Figure 21: Bangladesh - Defense Procurements in Terms of Supplier Relationships, 2018 59
Figure 22: Bangladeshi Defense Import Trend, 2013-2017 (TIV values) 60
Figure 23: Bangladeshi Defense Import by Country, 2013-2017 (TIV values) 61
Figure 24: Bangladesh Defense Imports by Category (%), 2013-2017 62
Figure 25: Industry Dynamics - Porter's Five Forces Analysis 64
Figure 26: Leonardo- Revenue Trend Analysis (EUR Billion), 2013-2017 80
Figure 27: Leonardo- Net Profit Trend Analysis (EUR Million), 2013-2017 81
Figure 28: Leonardo- Operating Profit Trend Analysis (EUR Million), 2013-2017 82
Figure 29: Bangladeshi GDP Per Capita at Constant Prices (US$), 2015-2025 84
Figure 30: Bangladesh - GDP at Current Prices (US$ Billion), 2015-2025 85
Figure 31: Bangladeshi Exports of Goods and Services (LCU Billion), 2005-2014 86
Figure 32:Bangladeshi Imports of Goods and Services (LCU Billion), 2005-2014 87
Figure 33: Bangladeshi Gross National Disposable Income (US$ Billion), 2005-2013 88
Figure 34: Bangladesh LCU per US$, 2015-2024 89
Figure 35: Bangladeshi Market Capitalization of Listed Companies (US$ Billion), 2005-2012 90
Figure 36: Bangladeshi Market Capitalization of Listed Companies (% of GDP), 2005-2012 91
Figure 37: Bangladeshi Government Cash Surplus/Deficit as % of GDP (LCU), 2005-2011 92
Figure 38: Bangladesh - Goods Exports as a % of GDP (%), 2005-2014 93
Figure 39: Bangladesh - Goods Imports as a % of GDP (%), 2005-2014 94
Figure 40: Bangladeshi Services Imports as a % of GDP (%), 2005-2014 95
Figure 41: Bangladesh Service Exports as a % of GDP (%), 2005-2014 96
Figure 42: Bangladesh - Foreign Direct Investment, Net (BoP, current US$ Billion), 2005-2014 97
Figure 43: Bangladeshi Net Foreign Direct Investment as % of GDP, 2005-2013 98
Figure 44: Bangladeshi Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014 99

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