Taiwan Defence & Security Report 2015 - New Market Study Published
New Defense research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Mon May 25 2015] We expect Taiwan's defence budget to remain stable at 2.2% of the GDP in the next five years as a result of financial constraints brought on by an economic downturn following the world's economic crisis. However, we note that the defence budget will continue to increase, albeit very slowly, in absolute terms, especially as cross-Strait tensions continue to increase following the pro-independence party's win during last November's local elections. Our view is that this is likely to open some development opportunities, although they will remain restricted due to China's pressure on its trading partners.
The surprisingly low vote for the ruling party during last November's local elections by the current President Ma's party, the Kuomintang (KMN), due to the very strong performance of the pro-independence Democratic Progressive Party (DPP). Although KMN remained in power, the increasing domestic support for Taiwan to become increasingly autonomous has renewed tensions between China and Taiwan.
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A desire to become self sufficient with regards to defence needs, and a desire to play a greater role on the regional stage have supported increased investment into aerospace and naval procurements. In particular, we believe that the modernisation of the air force will bring opportunities US companies, given the strong ties between the two nations, especially those who already have connections with Taiwan. Meanwhile, we believe that the naval procurements will offer further opportunities to other nations, should their governments be willing to face antagonizing China by opening up defence trade agreements with Taiwan.
Meanwhile, the country's goal of defence self-sufficiency is gathering pace. Taiwan announced the start of its own Indigenous Defence Submarines (IDS) programme. This is a positive step, in our view, and a sign that the country is keen to take on a greater role in the global defence sector. However, progress will be limited at present owing to...
The Taiwan Defence & Security Report features BMI Research'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 Taiwan Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Taiwanese defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on Taiwan to test other views - a key input for successful budgetary and strategic business planning in the Taiwanese defence and security market.
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