The Sri Lankan defense expenditure grew at a CAGR of 10.12% during
the review period to value an estimated US$1.42 billion in 2012. During
the forecast period, the country’s defense expenditure is expected to be
driven by factors such as post war rehabilitation, a tense relationship
with India and a persistent threat from separatists. However, military
expenditure is expected to record a decrease in growth of -0.10% CAGR
and remain at US$1.41 billion by 2016. As a result of a decrease in
overall defense expenditure, the country’s defense budget as a
percentage of GDP is also expected to decline from 2.65% in 2011 to
1.44% in 2016 (reference see graph below).
Sri Lanka is expected to invest US$7.07 billion in its armed forces, of which US$0.33 billion is forecast to be on the acquisition of military hardware, offering foreign OEMs limited opportunities to cater to the Sri Lankan defense industry. Furthermore, during the civil war the country procured weapons by taking loans, and therefore over the next five years a portion of military expenditure will be spent on the repayment of existing loans.
Incidents of malpractice within the country’s military industrial base may limit the growth of the country’s defense sector. In addition to damaging the country’s image in the global arms market, it also discourages foreign OEMs from market entry.
As a result of a lack of domestic defense capabilities, Sri Lanka is dependent on foreign suppliers to meet its military requirements. Arms imports, which registered increase during 2008, are further decreased due to a portion of the nation’s capital expenditure being used to repay the loans taken out by the government during the civil war.
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About ICD Research
ICD Research is a full-service global market research agency and premium business information brand specializing in industry analysis in a wide set of B2B and B2C markets. ICD Research has access to over 400 in-house analysts and journalists and a global media presence in over 30 professional markets enabling us to conduct unique and insightful research via our trusted business communities. Through its unique B2B and B2C research panels and access to key industry bodies, ICD Research delivers insightful and actionable analysis. The ICD Research survey capabilities grant readers access to the opinions and strategies of key business decision makers, industry experts and competitors as well as examining their actions surrounding business priorities.
About Strategic Defence Intelligence
This report is one of a series available to subscribers of our premium research platform, Strategic Defence Intelligence. Strategic Defence Intelligence provides a stream of continuously updated customer and competitor intelligence, as well as detailed research reports providing an unrivalled source of global information on the latest developments in the defence industry.
Strategic Defence Intelligence's unique monitoring platform tracks global defence activity for over 2,500 companies and 65 product categories in real time and in a highly structured manner, giving a comprehensive and easily-searchable picture of all defence industry activity. The site features: daily updated analysis, comment and news, company and customer profiles, defence spending, tenders and contracts, product and technology intelligence, a research and analysis database providing access to industry and competitor reports to enable business and market planning, and fully customizable tools, including instant personalized report generation and custom alerts.
Sri Lanka is expected to invest US$7.07 billion in its armed forces, of which US$0.33 billion is forecast to be on the acquisition of military hardware, offering foreign OEMs limited opportunities to cater to the Sri Lankan defense industry. Furthermore, during the civil war the country procured weapons by taking loans, and therefore over the next five years a portion of military expenditure will be spent on the repayment of existing loans.
Incidents of malpractice within the country’s military industrial base may limit the growth of the country’s defense sector. In addition to damaging the country’s image in the global arms market, it also discourages foreign OEMs from market entry.
As a result of a lack of domestic defense capabilities, Sri Lanka is dependent on foreign suppliers to meet its military requirements. Arms imports, which registered increase during 2008, are further decreased due to a portion of the nation’s capital expenditure being used to repay the loans taken out by the government during the civil war.
Contact sales@marketreportsonline.com to order your copy of this report OR for further information
About ICD Research
ICD Research is a full-service global market research agency and premium business information brand specializing in industry analysis in a wide set of B2B and B2C markets. ICD Research has access to over 400 in-house analysts and journalists and a global media presence in over 30 professional markets enabling us to conduct unique and insightful research via our trusted business communities. Through its unique B2B and B2C research panels and access to key industry bodies, ICD Research delivers insightful and actionable analysis. The ICD Research survey capabilities grant readers access to the opinions and strategies of key business decision makers, industry experts and competitors as well as examining their actions surrounding business priorities.
About Strategic Defence Intelligence
This report is one of a series available to subscribers of our premium research platform, Strategic Defence Intelligence. Strategic Defence Intelligence provides a stream of continuously updated customer and competitor intelligence, as well as detailed research reports providing an unrivalled source of global information on the latest developments in the defence industry.
Strategic Defence Intelligence's unique monitoring platform tracks global defence activity for over 2,500 companies and 65 product categories in real time and in a highly structured manner, giving a comprehensive and easily-searchable picture of all defence industry activity. The site features: daily updated analysis, comment and news, company and customer profiles, defence spending, tenders and contracts, product and technology intelligence, a research and analysis database providing access to industry and competitor reports to enable business and market planning, and fully customizable tools, including instant personalized report generation and custom alerts.
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