New market study, "Turkey Defence & Security Report Q1 2015", has been published


Fast Market Research recommends "Turkey Defence & Security Report Q1 2015" from Business Monitor International, now available


[USPRwire, Wed Nov 26 2014] On the whole, Turkey is one of the more stable countries in the Near East region. That said, the instability in its surrounding neighbourhood is affecting Turkey's regional interests. BMI thinks that international dynamics are bringing Turkey to roll back somewhat its Syrian policy, notably through modification of its previous support of extremist groups in the region. Turkey is continuing its efforts to boost its indigenous defence production capacity are continuing via investments, joint ventures with international companies. From the BMI perspective, Turkey could serve as a potential market to opt for cheaper offshore production processes, although caution is necessary.

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We expect that Turkey will spend up to USD20.6bn on defence in 2014. Up to and including 2019, we expect Turkey to spend an average of USD28.4bn on defence annually. We anticipate that Turkey will increase its defence spending to USD23.9bn in 2015, which will then experience a further increase to 2016 to USD27.3. By 2019, we expect the annual defence budget to have reached USD32.5bn. phenomenally fantastic

As an illustration of Turkey's increasing presence in the international defence market, the country's Defence Exporter's Council reported in October 2014 that the value of the country's defence exports for the first nine months of the year had reached USD1.2bn, which the organisation said was a 23 percent increase on the value of defence exports recorded for the first nine months of 2013.

In August 2014, Turkey was awarded a Foreign Military Sales of defence equipment from the United States worth USD320mn for 154 Raytheon AIM-120C-7 Advanced Medium Range Air-to-Air Missiles, and supporting equipment. These missiles are destined to equip the Turkish Air Force's Lockheed Martin F-16C/D Fighting Falcon warplanes which comprise the backbone of the Turkish Air Force fighter fleet.

We have given Turkey an overall security risk index of 65 for Q115. On average, between December 2007 and...

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