Market Report, "Philippines Defence & Security Report Q1 2015", published
New Defense research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Tue Dec 30 2014] Rising tensions with China have seen the Philippines significantly increase their defence spending with the aim of revamping their military assets. Relations with China have further deteriorated following territorial disputes in early 2014. In addition, the Southeast Asian country is facing new internal threats such as communist insurgency, Muslim separatists in the south, and terrorist organisations with links to Al-Qaeda and the new Islamic State (IS). These developments have led to an increase in budget allocation towards defence spending by the government, which has seen roughly a 30% rise on the previous year. Potential risks stem from the scaling back of US support for the Philippines counter-terrorism programme.
Relations with China further deteriorated following the Philippines sentencing of 12 Chinese fisherman arrested for illegal fishing in non-disputed waters. Another trial of Chinese fishermen for supposed activity near the disputed Spratly Islands risks aggravating further tensions between the two countries. BMI thinks that these incidents demonstrate the Philippines readiness to respond to what it perceives as Chinese aggression.
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This readiness to respond to China is also evident from the increases in the defence budget directed at both personnel and equipment. While the air force still lacks fighter jets, the acquisition of 12 FA-50 attack/fighter aircraft as well as 8 attack AW 1090 Power helicopters does provide it with minimum offensive capabilities. The Philippines Navy is also aiming to boost its offensive capabilities through procurement of armaments systems for the frigate building project.
Beyond the defence issues, the Philippines faces a number of internal security challenges notably terrorism and criminality. BMI notes that while the Philippines is developing successful defence relationships with countries with common interests, notably Japan and the US, to respond to China, outside support to counter internal security...
The Philippines Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's Philippines Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Philippine defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on Philippines to test other views - a key input for successful budgetary and strategic business planning in the Philippine defence and security market.
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