"Malaysia Defence & Security Report Q4 2014" now available at Fast Market Research
New Defense market report from Business Monitor International: "Malaysia Defence & Security Report Q4 2014"
[ClickPress, Fri Nov 21 2014] As Malaysia enters a new financial year, we expect to see an upward trend in military and defence procurement. 2014 saw very little activity in the defence sector as the government reviewed its defence procurement strategy. The release of a new five year development plan and a review of Malaysia's defence offsetting programme could yield changes for the indigenous defence sector in 2015. However, we forecast a marginal rise in defence spending, which remains a low priority for the government which is trying to address a budget deficit. Meanwhile, Malaysia enjoys peace and stability with regards to internal and external security threats. Key concerns include continued incursions by Filipino groups and rising piracy in regional waters.
Full Report Details at
We expect defence spending to remain a low priority under the 2015 budget, which will focus on economic growth, improving the fiscal position, and raising living standards. BMI forecasts a small increase in defence spending through 2015, rising in line with national GDP growth. This will leave the budget allocation to the defence sector unchanged as a percentage of GDP, dropping marginally from 1.5% in 2014 to 1.4% in 2015.
Defence spending was a low priority under the 2014 budget which was tailored by the ruling party to secure popular support ahead of the 2014 general election. As a result, various requests for financing by the armed forces have been denied and many programmes, such as the multirole combat fighter programme, have been put on hold while the government has been working on a new five-year national development plan which will be released in June 2015. New defence procurement strategies will therefore be announced in line with the 11thMalaysia Plan (2016-2020). Defence officials have also ordered a review of the defence offsetting programme, which has so far failed to drive meaningful development of the indigenous defence sector. Local defence firms under-invest in research and development, and...
The Malaysia 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 Malaysia Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Malaysian defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on Malaysia to test other views - a key input for successful budgetary and strategic business planning in the Malaysian defence and security market.
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