Australia Defence & Security Report Q4 2014 - New Market Study Published

While there are limited major security threats to Australia over the short to medium term, BMI expects it to continue to play a prominent role in international peacekeeping military campaigns. This policy is currently being played out in Australia's recent military response to the threat posed by the Islamic terrorist group ISIS in the Middle East. We expect such strategic military objectives to continue to fuel arms procurements, particularly from its closest trade partner the US, and drive an increase in overall defence expenditure for the remainder of our forecast period.

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Australian Prime Minister Tony Abbott has estimated that the country's involvement in Iraq is likely to cost half a billion dollars each year, and moreover that some personnel have already left for the Middle East. Australian special forces deployed to the region will be armed, but based in Iraqi and Kurdish military headquarters in an advisory role rather than directly fighting in the field against Isis.

Nonetheless, we expect the intervention to increase demand for arms acquisitions and heighten the urgency with which the Australian Defence Force (ADF) renews itself. After ongoing operational and logistical investment in operations in Afghanistan, the Solomon Islands and Timor-Leste, the ADF is now focused on re-grouping and optimising its resources to support its strategic goals for the revised 2030 strategy.

A Defence White Paper published in late 2013 outlined the importance of the ADF to the overall success of the Australian economy and nation. We have since witnessed a renewed sense of importance attributed to the ADF, and some recent organisational changes, including a change in the ADF chief in June 2014. For these reasons, and to meet the demand created by the country's involvement in a new conflict, we expect Australia's defence expenditure to increase throughout the projection period with the total expenditure in AUD increasing at an average annual rate of 6%...

The Australia 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 Australia Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Australian defence and security industry.

Key Benefits

* Benchmark BMI's independent defence and security industry forecasts on Australia to test other views - a key input for successful budgetary and strategic business planning in the Australian defence and security market.

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