Researchmoz presents this most up-to-date research on"Future of the Turkish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018".The report focuses primarily on quantitative market metrics in order to characterize the growth and evolution of the Remote Patient Monitoring Market.
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This report is the result of SDI's extensive market and company research covering the Turkish defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the Turkish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Turkish defense industry.
What is the current market landscape and what is changing?
Turkey, one of Europe's most attractive defense markets, allocated a military budget of US$15.3 billion in 2013, which increased at a CAGR of 3.3% during the review period. The country is expected to grow at a CAGR of 6.6% to reach US$21.3 billion by 2018. Turkey's defense expenditure will largely be driven by a strained relationship with Greece, persistent terror threats, and instability within the region, considering the 28-year-old fight against the Kurdistan Workers' Party (PKK) one of the major factors. The country has no plans to decrease its defense budget and is expected to increase its expenditure on procurement for the foreseeable future. The capital expenditure allocation of the defense budget averaged 26.4% during the review period and is expected to increase to an average of 29.7% over the forecast period. This increase is primarily due to the country's procurement plans including Joint Strike Fighter F-35, A400M transport aircraft and the Type-214 air-independent propulsion submarine and modernization plans lined up during the forecast period. The current modernization trend aims to have smaller and more advanced forces with greater mobility and firepower.
What are the key drivers behind recent market changes?
Participation in Peacekeeping missions, a reduction in foreign dependency for military equipment, threats due to the Kurdish Workers Party and other external factors, and military modernization initiatives to drive defense expenditure during the forecast period.
What makes this report unique and essential to read?
The Future of the Turkish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
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Key Features and Benefits
- The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
- The report includes trend analysis of imports and exports, together with their implications and impact on the Turkish defense industry.
- The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
- The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
- The report helps the reader to understand the competitive landscape of the defense industry in Turkey. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
- Until 2004, the Turkish Ministry of Defense was highly trusted, and defense deals were not scrutinized for instances of corruption and bribery; however, during the review period, high ranking defense officials were convicted on charges of malpractice. For example, in 2004, a former commander of the Turkish Navy was accused of bribing defense procurement officials in order to ensure defense procurement from a domestic firm owned by close associates.
- Throughout the review period, Turkey has invested in substantial defense procurements, and its military modernization program is currently approaching completion. The country is in possession of a well-developed domestic defense industry which is primarily dependent on Turkish defense expenditure. However, the country has now achieved the majority of its military modernization plans and this, coupled with the impact of the global economic recession, has resulted in the postponement of a number of defense procurement programs. As a result, no major procurements are expected over the forecast period and this will force the domestic defense industry to cater to small defense procurements or develop an export market for its products.
- Strained relationship with Greece: Since the 1970s, Turkey and Greece have been engaged in a dispute over territorial rights in the Aegean Sea, with both countries laying claim to the Aegean continental shelf. The central issues between the two countries are the exploration rights to minerals and oil under the seabed, and air control responsibilities. Furthermore, the two nations are involved in a conflict over the control of Cyprus. Despite recent efforts made on behalf of both countries' governments to resolve the ongoing dispute, territorial conflicts remain largely unresolved and will continue to fuel Turkish defense expenditure. Instability within geographical region: Turkey shares borders with both Iran and Syria, and although the three countries share a peaceful relationship, the increasing defense capabilities of Iran and Syria in missile defense and weapons of mass destruction are perceived by Turkey as a potential security threat. Consequently, throughout the forecast period the country will focus on the enhancement of its missile defense capabilities. Additionally, hostility among Middle Eastern states such as Israel and Iran, combined with turbulence among the newly independent republics of the Caucasus region such as Georgia, Armenia, and Azerbaijan, threaten to disturb Turkish borders. Turkey will increase defense expenditure over the forecast period in order to safeguard its national security.
- Threat from separatists and extremists: A major challenge to the country's homeland security is posed by the Kurdistan Workers Party (PKK), an organization which resorts to violent methods in an attempt to establish an independent Kurdish state. The Turkish government is currently holding peace talks with PKK, which are threatened by the Syrian Civil war as Kurdish militants supply arms to PKK. In addition, the nation is also prone to terror attacks from global terrorist organizations such as Al-Qaeda and the Revolutionary People's Liberation Party. In order to prevent such attacks, the nation plans to invest in unmanned aerial vehicles, improvised explosive device (IED) jammers, intelligence and communication systems, and reconnaissance and surveillance satellites.
- Pakistan being the largest recipient of the Turkish defense equipment, modernized its older US-built F-16 fighter jets by Turkish Aerospace Industries. The country also receives wireless equipment from Turkey's military electronics firm Aselsan. During 2012, there were some additions to the export partner list including Turkmenistan, which signed an agreement in October 2010 to purchase two new generation patrol boats from Turkish private shipyard, Dearsan Shipyard for a contract value of EUR55 million.
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