The Future of the Malaysia Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2022

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The Future of the Malaysia Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2022, published by Strategic Defense Intelligence, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

Synopsis

This report offers detailed analysis of the Malaysian defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following –
– The Malaysian defense industry market size and drivers: detailed analysis of the Malaysian defense industry during 2018-2022, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns
– Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
– Porter’s Five Force analysis of the Malaysian defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
– Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
– Market opportunities: details of the top five defense investment opportunities over the next 10 years
– Competitive landscape and strategic insights: analysis of the competitive landscape of the Malaysian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Scope

– The defense budget of Malaysia for the year 2017 is US$3.5 billion, which reflected a drop of 17.6% from the previous year. For the historic period, 2013-2017, the defense budget of the country registered a CAGR of -8.58%. One of the major causes of this falling defense budget over the years is the lower percentage allocation of GDP towards defense sector. Malaysia has also postponed some of its new procurement programs and is increasingly favoring the modernization of its current equipment to cut costs. This is part of attempts by the Malaysian government to bring in economic reforms and stabilize the economy. Malaysia has also released the 11th growth plan, wherein plans for achieving economic growth have been well drafted. It is expected that with the implementation of the plans the country’s GDP will rise.

– During the historic period, the Malaysian MoD allocated an average of 21.1% of the total defense budget to capital expenditure, while an average of 78.9% was reserved for revenue expenditure. Over the forecast period, allocation towards capital expenditure is forecasted to remain at an average of 23.2%. For the next couple of years, allocation towards capital expenditure is expected to reduce slightly due to the postponement of some procurement programs.

– The MoD is expected to invest in multi-role aircraft and Armoured Personnel Carrier (APC).

Reasons to Buy

– This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Malaysian defense industry market trends for the coming five years

– The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period

– Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector

– A deep qualitative analysis of the Malaysian defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

Leonardo Malaysia
Sukhoi
Denel Land Systems (DLD)
SME Ordnance Sdn Bhd (SMEO)
SME Aerospace Sdn Bhd
Aircraft Inspection
Repair & Overhaul Depot (AIROD) Sdn Bhd
Boustead Naval Shipyard (BN Shipyard)
Sapura Thales Electronics Sdn Bhd (STE)
DRB Hicom Defense Technologies Sdn Bhd (DEFTECH)
Labuan Shipyard & Engineering Sdn Bhd (LSE)
D’Aquarian (M) Sdn Bhd (DASB)

Table of Contents

Table of Contents

1. Introduction 8

1.1. What is this Report About? 8

1.2. Definitions 8

1.3. Summary Methodology 10

1.4. About Strategic Defense Intelligence 11

2. Executive Summary 12

3. Market Attractiveness and Emerging Opportunities 14

3.1. Current Market Scenario 15

3.1.1. Primary Threat Perception 15

3.1.2. Military Doctrine & Strategy 17

3.1.3. Military Fleet Size 20

3.1.4. Procurement Programs 23

3.1.5. Social, Political, and Economic Environment & Support for Defense Projects 25

3.1.6. Political and Strategic Alliances 26

3.2. Defense Market Size Historical and Forecast 27

3.2.1. The Malaysian defense budget is expected to reach US$4.5 billion by 2022, at a CAGR of

6.31% 27

3.2.2. Modernization of the armed forces, participation in UN peacekeeping operations, and territorial disputes are the major drivers of the Malaysian defense industry 29

3.2.3. Defense budget as a percentage of GDP will average

0.99% over the forecast period 31

3.3. Analysis of Defense Budget Allocation 33

3.3.1. Capital expenditure allocation is expected to increase slightly over the forecast period 33

3.3.2. The Malaysian defense capital expenditure is expected to reach US$1.1 billion by 2022, at a CAGR of

7.93% 35

3.3.3. Defense expenditure allocation on others expected to remain highest 37

3.3.4. Budget allocation on others is expected to remain highest over the forecast period 38

3.3.5. Per capita defense expenditure expected to increase during the forecast period 42

3.4. Homeland Security Market Size and Forecast 43

3.4.1. Malaysian homeland security expenditure is expected to grow at a CAGR of

3.07% over the forecast period 43

3.4.2. The homeland security expenditure in Malaysia is mainly driven by rising criminal activities and natural disasters 45

3.4.3. Malaysia is “moderately affected” by terrorism 47

3.4.4. Malaysia faces “moderate risk” from acts of terrorism 48

3.4.5. Malaysia has a terrorism index score of “2.7” 50

3.5. Benchmarking with Key Global Markets 51

3.5.1. Malaysian defense expenditure is expected to increase over the forecast period 51

3.5.2. Malaysian defense expenditure is lower than other Asian countries 53

3.5.3. The Malaysian defense budget as a percentage of GDP is expected to decline over the forecast period 54

3.6. Market Opportunities: Key Trends and Growth Stimulators 55

3.6.1. Multi-Role Aircraft 55

3.6.2. Armored Personnel Carrier (APC) 56

4. Defense Procurement Market Dynamics 57

4.1. Import Market Dynamics 58

4.1.1. Malaysian defense imports are expected to increase over the forecast period 58

4.1.2. Germany and France to remain the key arms suppliers to Malaysia 59

4.1.3. Aircrafts accounted for the majority of imports during 2012-2016 60

4.2. Export Market Dynamics 61

4.2.1. Negligible defense exports for Malaysia 61

5. Industry Dynamics 62

5.1. Five Forces Analysis 62

5.1.1. Bargaining power of supplier: low 63

5.1.2. Bargaining power of buyer: medium to high 63

5.1.3. Barrier to entry: medium 63

5.1.4. Intensity of rivalry: medium to high 63

5.1.5. Threat of substitution: Medium 64

6. Market Entry Strategy 65

6.1. Market Regulation 65

6.1.1. The Malaysian defense industry is largely driven by the government’s offset policy 65

6.2. Market Entry Route 66

6.2.1. Budgeting Process 66

6.2.2. Procurement Policy and Process 67

6.2.3. Entry through technology transfer program 67

6.2.4. Entry through partnerships with domestic defense companies 68

6.2.5. Defense exhibitions can be used as a direct entry route into the Malaysian defense industry in the form of Exports 69

6.3. Key Challenges 70

6.3.1. Negligible defense exports pose a challenge for domestic defense companies 70

6.3.2. Limited defense budget discourages investors from market entry 70

6.3.3. Corruption and a lack of transparency impede the growth of Malaysia’s defense industry 70

6.3.4. Malaysia’s new economic policy (NEP) limits the entry of foreign investors 71

7. Competitive Landscape and Strategic Insights 72

7.1. Competitive Landscape Overview 72

7.2. Key Foreign Companies 74

7.2.1. Leonardo Malaysia: Overview 74

7.2.2. Leonardo Malaysia: Products and services 74

7.2.3. Leonardo Malaysia: Recent announcements and strategic initiatives 74

7.2.4. Leonardo Malaysia: alliances 75

7.2.5. Leonardo Malaysia: recent contract wins 76

7.2.6. Sukhoi: Overview 77

7.2.7. Sukhoi: Products and services 77

7.2.8. Sukhoi: recent contract wins 77

7.2.9. Denel Land Systems: Overview 78

7.2.10. Denel Land Systems: Products and services 78

7.2.11. Denel Land Systems: Recent announcements and strategic initiatives 78

7.2.12. Denel Land Systems: alliances 78

7.2.13. Denel Land Systems: recent contract wins 79

7.3. Key Public Sector Companies 80

7.3.1. SME Ordnance Sdn Bhd: overview 80

7.3.2. SME Ordnance Sdn Bhd: products and services 80

7.3.3. SME Ordnance Sdn Bhd: Recent announcements and strategic initiatives 81

7.3.4. SME Ordnance Sdn Bhd: Alliances 82

7.3.5. SME Ordnance Sdn Bhd: recent contract wins 82

7.3.6. SME Aerospace Sdn Bhd: Overview 83

7.3.7. SME Aerospace Sdn Bhd: Products and services 83

7.3.8. SME Aerospace Sdn Bhd: Recent announcements and strategic initiatives 83

7.3.9. SME Aerospace Sdn Bhd: Recent contract wins 84

7.3.10. AIROD Sdn Bhd: Overview 85

7.3.11. AIROD Sdn Bhd: Products and services 85

7.3.12. AIROD Sdn Bhd: Recent announcements and strategic initiatives 87

7.3.13. AIROD Sdn Bhd: Alliances 87

7.3.14. AIROD Sdn Bhd: Recent contract wins 88

7.4. Key Private Sector Companies 89

7.4.1. Boustead Naval Shipyard: Overview 89

7.4.2. Boustead Naval Shipyard: Products and services 89

7.4.3. Boustead Naval Shipyard: Alliances 90

7.4.4. Boustead Naval Shipyard: Recent contract wins 90

7.4.5. Sapura Thales Electronics Sdn Bhd: Overview 92

7.4.6. Sapura Thales Electronics Sdn Bhd: Products and services 92

7.4.7. Sapura Thales Electronics Sdn Bhd: Recent announcements and strategic initiatives 92

7.4.8. Sapura Thales Electronics Sdn Bhd: Alliances 93

7.4.9. Sapura Thales Electronics Sdn Bhd: Recent contract wins 93

7.4.10. DRB Hicom Defense Technologies Sdn Bhd: Overview 94

7.4.11. DRB Hicom Defense Technologies Sdn Bhd: Products and services 94

7.4.12. DRB Hicom Defense Technologies Sdn Bhd: Recent announcements and strategic initiatives 94

7.4.13. DRB Hicom Defense Technologies Sdn Bhd: Alliances 95

7.4.14. DRB Hicom Defense Technologies Sdn Bhd: Recent contract wins 96

7.4.15. Labuan Shipyard & Engineering Sdn Bhd: overview 97

7.4.16. Labuan Shipyard & Engineering Sdn Bhd: products and services 97

7.4.17. Labuan Shipyard & Engineering Sdn Bhd: recent announcements and strategic initiatives 97

7.4.18. Labuan Shipyard & Engineering Sdn Bhd: alliances 97

7.4.19. Labuan Shipyard & Engineering Sdn Bhd: recent contract wins 98

7.4.20. D’Aquarian Sdn Bhd: Overview 99

7.4.21. D’Aquarian Sdn Bhd: Products and services 99

7.4.22. D’Aquarian Sdn Bhd: Recent contract wins 99

8. Business Environment and Country Risk 100

8.1. Economic Performance 100

8.1.1. Nominal GDP per capita 100

8.1.2. GDP at current prices (US$) 101

8.1.3. Exports of Goods and Services (Current LCU Billion) 102

8.1.4. Imports of Goods and Services (Current LCU Billion) 103

8.1.5. Gross National Disposable Income (US$ billion) 104

8.1.6. LCU per US$ (period average) 105

8.1.7. Market Capitalization of Listed Companies (US$ Billion) 106

8.1.8. Market capitalization of listed companies (% of GDP) 107

8.1.9. Government cash surplus/deficit as a percentage of GDP (LCU) 108

8.1.10. Goods exports as a percentage of GDP 109

8.1.11. Goods imports as a percentage of GDP 110

8.1.12. Services imports as a percentage of GDP 111

8.1.13. Service exports as a percentage of GDP 112

8.1.14. Foreign Direct Investment, Net (BoP, current US$ billion) 113

8.1.15. Net foreign direct investment as a percentage of GDP 114

8.1.16. Mining, Manufacturing, Utilities Output (LCU Billion) 115

9. Appendix 116

9.1. About SDI 116

9.2. Disclaimer 116

Table

List of Tables

Table 1: Malaysian Ground Forces Strength 20

Table 2: Malaysian Air Force Strength 21

Table 3: Malaysian Navy Strength 22

Table 4: Malaysian – Ongoing Development and Procurement Programs 23

Table 5: Malaysian – Future Procurement Programs 24

Table 6: Malaysian Defense Expenditure (MYR Billion & US$ Billion), 2013-2022 27

Table 7: Malaysian GDP Growth and Defense Expenditure as a Percentage of GDP Growth, 2013-2022 31

Table 8: Malaysian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2022 33

Table 9: Malaysian Defense Capital Expenditure (MYR Billion & US$ Billion), 2013-2022 35

Table 10: Malaysian Defense Budget Split Between Military Services (Army, Air Force, Navy and Others) (%), 2013-2022 37

Table 11: Malaysian Defense Budget in MYR Billion – Breakdown by Services (Army, Navy, Air Force and Others) 2013-2022 38

Table 12: Malaysian Defense Budget in US$ Billion – Breakdown by Services (Army, Navy, Air Force and Others) 2013-2022 40

Table 13: Malaysian Per Capita Defense Expenditure (US$), 2013-2022 42

Table 14: Malaysian Homeland Security Expenditure (MYR Billion & US$ Billion), 2013-2022 43

Table 15: Terrorism Index, 2017 48

Table 16: Benchmarking with Key Markets – 2013-2017 vs. 2018-2022 51

Table 17: Malaysian Defense Offset Regulations 65

Table 18: Malaysian Budget Formation Timetable 66

Table 19: Market Entry by Key Foreign Companies 68

Table 20: Malaysian Defense Industry Capability 72

Table 21: Competitive Landscape of the Malaysian Defense Industry 73

Table 22: Leonardo Malaysia – Product Focus 74

Table 23: Leonardo Malaysia – Alliances 75

Table 24: Leonardo Malaysia – Recent Contract Wins 76

Table 25: Sukhoi – Product Focus 77

Table 26: Sukhoi – Recent Contract Wins 77

Table 27: Denel Land Systems – Product Focus 78

Table 28: Denel Land Systems – Alliances 78

Table 29: Denel Land Systems – Recent Contract Wins 79

Table 30: SME Ordnance Sdn Bhd – Product Focus 80

Table 31: SME Ordnance Sdn Bhd – Alliances 82

Table 32: SME Ordnance Sdn Bhd – Recent Contract Wins 82

Table 33: SME Aerospace Sdn Bhd – Product Focus 83

Table 34: SME Aerospace Sdn Bhd – Recent Contract Wins 84

Table 35: AIROD Sdn Bhd – Product Focus 85

Table 36: AIROD Sdn Bhd – Alliances 87

Table 37: AIROD Sdn Bhd – Recent Contract Wins 88

Table 38: Boustead Naval Shipyard – Product Focus 89

Table 39: Boustead Naval Shipyard – Alliances 90

Table 40: Boustead Naval Shipyard – Recent Contract Wins 90

Table 41: Sapura Thales Electronics Sdn Bhd – Product Focus 92

Table 42: Sapura Thales Electronics Sdn Bhd – Alliances 93

Table 43: Sapura Thales Electronics Sdn Bhd – Recent Contract Wins 93

Table 44: DRB Hicom Defense Technologies Sdn Bhd – Product Focus 94

Table 45: DRB Hicom Defense Technologies Sdn Bhd – Alliances 95

Table 46: DRB Hicom Defense Technologies Sdn Bhd – Recent Contract Wins 96

Table 47: Labuan Shipyard & Engineering Sdn Bhd – Product Focus 97

Table 48: Labuan Shipyard & Engineering Sdn Bhd – Alliances 97

Table 49: Labuan Shipyard & Engineering Sdn Bhd – Recent Contract Wins 98

Table 50: D’Aquarian Sdn Bhd – Product Focus 99

Table 51: D’Aquarian Sdn Bhd – Recent Contract Wins 99

Figures

List of Figures

Figure 1: Malaysian Defense Expenditure (MYR Billion), 2013-2022 28

Figure 2: Malaysian Defense Expenditure (US$ Billion), 2013-2022 28

Figure 3: Malaysian GDP Growth vs. Defense Expenditure as Percentage of GDP, 2013-2022 32

Figure 4:Malaysian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2022 34

Figure 5: Malaysian Defense Capital Expenditure (MYR Billion), 2013-2022 36

Figure 6: Malaysian Defense Capital Expenditure (US$ Billion), 2013-2022 36

Figure 7: Malaysian Defense Budget Split Between Army, Navy, Air Force and Others, 2013-2022 37

Figure 8: Malaysian Defense Budget in MYR Billion – Breakdown by Services (Army, Navy, Air Force and Others) 2013-2022 39

Figure 9: Malaysian Defense Budget in US$ Billion – Breakdown by Services (Army, Navy, Air Force and Others) 2013-2022 41

Figure 10: Malaysian Per Capita Defense Expenditure (US$), 2013-2022 42

Figure 11: Malaysian Homeland Security Expenditure (MYR Billion), 2013-2022 44

Figure 12: Malaysian Homeland Security Expenditure (US$ Billion), 2013-2022 44

Figure 13: Terrorism Heat Map, 2017 47

Figure 14: Terrorism Index, 2017 50

Figure 15: Benchmarking with Key Markets – 2013-2017 vs. 2018-2022 52

Figure 16: Defense Expenditure of the World’s Largest Military Spenders (US$ Billions), 2017 and 2022 53

Figure 17: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2017 54

Figure 18: Multi-role Aircraft Market Size (US$ Million), 2017-2027 55

Figure 19: Armored Personnel Carrier Market Size (US$ Million), 2017-2027 56

Figure 20: Malaysian Defense Import Trend, 2012-2016 (TIV values) 58

Figure 21: Malaysian Defense Import by Country, 2012-2016 (TIV values) 59

Figure 22: Malaysia Defense Imports by Category (%), 2012-2016 60

Figure 23: Industry Dynamics – Porter’s Five Forces Analysis 62

Figure 24: Malaysian GDP Per Capita at Constant Prices (US$), 2015-2025 100

Figure 25: Malaysia – GDP at Current Prices (US$ Billion), 2015-2025 101

Figure 26: Malaysian Exports of Goods and Services (LCU Billion), 2005-2014 102

Figure 27: Malaysian Imports of Goods and Services (LCU Billion), 2005-2014 103

Figure 28: Malaysian Gross National Disposable Income (US$ billion), 2005-2014 104

Figure 29: Malaysia LCU per US$, 2015-2024 105

Figure 30: Malaysian Market Capitalization of Listed Companies (US$ Billion), 2005-2012 106

Figure 31: Malaysian market capitalization of listed companies (% of GDP), 2005-2012 107

Figure 32: Malaysian Government cash surplus/deficit as % of GDP (LCU), 2005-2012 108

Figure 33: Malaysia – Goods exports as a % of GDP (%), 2005-2013 109

Figure 34: Malaysia – Goods imports as a % of GDP (%), 2005-2013 110

Figure 35: Malaysian Services imports as a % of GDP (%), 2005-2013 111

Figure 36: Malaysia Service exports as a % of GDP (%), 2005-2013 112

Figure 37: Malaysia – Foreign direct investment, net (BoP, current US$ billion), 2005-2013 113

Figure 38: Malaysian Net foreign direct investment as % of GDP, 2005-2013 114

Figure 39: Malaysian Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014 115

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