From the Wires
Frost & Sullivan: Subdued Growth in Traditional Force Protection Markets Offset by the Potential in Emerging Markets
Strong strategic intent and economic prowess makes Asia-Pacific a hotspot for future growth
By: PR Newswire
Jan. 10, 2013 06:00 AM
LONDON, Jan. 10, 2013 /PRNewswire/ -- The need for force protection systems increased significantly during the Iraq and Afghanistan war. With operations in Afghanistan now winding down, the demand for such systems, especially among NATO countries, is set to stabilise. In contrast, strong strategic intent and economic prowess are making Asia-Pacific (APAC) and the Middle East the hotspots for future market growth.
New analysis from Frost & Sullivan (http://www.defence.com), Global Force Protection Market Assessment, finds the market generated USD6.1 billion in 2012 and is estimated to reach USD7.55 billion in 2021. The research covers vehicle, soldier and base protection segments. All three segments present multiple, large-scale opportunities, with base protection expected to gross the highest revenues.
"The economic downturn is expected to minimally impact the global force protection market; force protection considerations are set to be the core of all future procurements," noted Frost & Sullivan Defence Senior Research Analyst Mahendran Arjunraja. "Decreasing troop strength and falling vehicle procurement volumes will change force structures, creating greater demand for advanced force protection systems during 2012-2021."
Subdued growth is projected in the more traditional markets of Europe and North America. In contrast, the emerging markets in APAC and the Middle East offer brighter growth prospects.
The APAC market is expected to register the highest growth – 10.2 per cent – over the forecast period. By 2015, revenues from the APAC market will surpass that of its European counterpart. The Middle East will rack up a solid compound annual growth rate of 10 per cent over 2012-2021, followed by Latin America and Africa.
"In these regions, market expansion will be promoted by intensifying threat perceptions, regional instability and booming economies," explained Arjunraja. "Such trends underpin significant shifts in competitive dynamics."
If you are interested in more information on this research, please contact Joanna Lewandowska, Corporate Communications, at firstname.lastname@example.org. Please include your full contact details in the query.
The Executive Summary of the report is available on Slide Share.
Global Force Protection Market Assessment (M840-16) is part of the Defence Growth Partnership Service programme. Frost & Sullivan's related research services include: Global Military Support in Service Market Assessment, European Defence Support in Service Market Assessment, and Global Military Training & Simulation Market Assessment. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
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