This report is the result of SDI's
extensive market and company research covering the Australian defense industry,
and provides detailed analysis of both historic and forecast defense industry
values including key growth stimulators, analysis of the leading companies in
the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the Australian Defense
Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
offers the reader an insight into the market opportunities and entry strategies
adopted by foreign original equipment manufacturers (OEMs) to gain a market
share in the Australian defense industry.
To
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What is the current market landscape
and what is changing?
Australian defense expenditure
increased at a CAGR of 6.03% during the review period and values US$26.3
billion in 2013. The focus of the Australian government will be on the
modernization of its armed forces, participation in peacekeeping operations,
and counterterrorism activities.
What are the key drivers behind
recent market changes?
Military modernization, counterterrorism
activities, and participation in peacekeeping missions are the major drivers of
the Australian defense industry.
What makes this report unique and
essential to read?
The Future of the Australian Defense
Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
provides detailed analysis of the current industry size and growth expectations
from 2014 to 2018, including highlights of key growth stimulators. It also
benchmarks the industry against key global markets and provides a detailed
understanding of emerging opportunities in specific areas.
Key Features and Benefits
The
report provides detailed analysis of the current industry size and growth
expectations from 2014 to 2018, including highlights of key growth stimulators,
and also benchmarks the industry against key global markets and provides a
detailed understanding of emerging opportunities in specific areas.
The
report includes trend analysis of imports and exports, together with their
implications and impact on the Australian defense industry.
The
report covers five forces analysis to identify various power centers in the
industry and how these are expected to develop in the future.
The
report allows readers to identify possible ways to enter the market, together with
detailed descriptions of how existing companies have entered the market,
including key contracts, alliances, and strategic initiatives.
The
report helps the reader to understand the competitive landscape of the defense
industry in Australia. It provides an overview of key defense companies, both
domestic and foreign, together with insights such as key alliances, strategic
initiatives, and a brief financial analysis.
Key Market Issues
Recently,
the DMO has taken criticism for the project delays and cost overruns associated
with its domestic defense procurements, several of which have cost double the
original estimations. Currently, the Australian defense industry is facing cost
overruns and delays in its project to acquire 100 F-35 joint strike fighters.
As a result, similar opportunities may be offered to foreign firms, rather than
domestic firms, during the forecast period.
The
AIC program supports the domestic defense industry by encouraging foreign OEMs
to grant domestic access to the global supply chain in exchange for market
entry. Global supply chain deeds can be entered into voluntarily or as part of
a procurement contract, and insist that the foreign OEM procures its equipment
or components from a domestic company. While global supply chain deeds offer
substantial export opportunities to domestic firms, they can pose major
concerns for foreign OEMs, as Australian defense products are often expensive
due to high labor costs and expensive logistics related to the country's
geographical location. The government is, however, making an effort to train
domestic defense employees by schemes such as Skilling Australia's Defense
Industry (SADI).
Key Highlights
Each
defense contract valuing AUD50 million (US$43.8 million) or more must have an
AIC plan as part of the tender, which facilitates the participation of the
domestic defense industry by determining a set of activities that must be
performed by sub-contracted domestic firms. The AIC will then evaluate the bid
of each participant, and select the one that will offer the maximum opportunity
to the domestic industry at the lowest cost. The participant may also offer
domestic companies access to its global supply chain.
While
Germany has, historically, been the leading supplier of arms to Australia,
since 2007 the dynamics of the market have changed significantly with the US
taking the lead, followed by France. This trend has been facilitated by the
close military relationship Australia shares with the US, which will also offer
the US an advantage over other supplying countries over the forecast period.
During the review period, the US accounted for the largest percentage share.
Most of the procurement programs from the US have been executed under Foreign
Military Sales (FMS). This includes contracts with General Dynamics, and local
subsidiaries of Lockheed Martin, Boeing and Raytheon.
As
a result of its highly competitive domestic shipbuilding industry, ships
account for the majority of Australian exports. The industry has recently
recorded achievements such as the construction of AZNAC frigates, Huon mine
hunters, and Collins class submarines, which are the largest
conventionally-powered submarines in the world. The majority of exports were
made to New Zealand and the Netherlands.
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