Newly released market study: Philippines Defence & Security Report 2015

Rising tensions with China have seen the Philippines significantly increase defence spending with the aim of revamping their military assets. Relations with China have further deteriorated following territorial disputes in early 2014. In addition, the Southeast Asian country is facing new internal threats by insurgent groups, especially Abu Sayyaf . These developments will therefore drive an increase in budget allocation towards defence spending by the government, which will reach USD3.4bn in 2015 . The lack of a clear strategic defence spending policy, however, and the under-developed domestic defence manufacturing sector, will open up opportunities for international companies but limit them within the country.

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The Philippines' position close to China and the South China Sea, and the recent dispute over conflicting territorial claims in the Sea that has seen the Philippines take China to the UN Arbitral Tribunal, makes the country particularly interesting for a large number of powers in the region and internationally. As such, in the past decade the Philippines has been developing a number of defence cooperation agreements, with different countries, that not only aim at facilitating technology transfer but also provide assistance (whether financial or material) to the Philippines in modernising its military force.

Indeed, the Philippines currently has one of the weakest military forces in the region, in large part as a result of the obsolete equipment and platforms that are being used by its army, navy and air force. The 2012 Defence White Paper recognised this challenge and outlined a strategy to prompt the modernisation and upgrading of its armed forces. However, despite a constant increase in the defence budget in the past few years, the government has fallen short of its initial objectives.

The Philippines Defence & Security Report features BMI Research'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 Philippines Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Philippine defence and security industry.

Key Benefits

* Benchmark BMI's independent defence and security industry forecasts on Philippines to test other views - a key input for successful budgetary and strategic business planning in the Philippine defence and security market.
* Target business opportunities and risks in the Asia defence and security sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Asia.

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