Summary Defense Spending in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights - Defense spending covers capital items, military personnel, government defense agencies, and related expenditure on defense and peacekeeping. The value of the market is taken to include both current and capital expenditure on the armed forces, including funding contributions to peacekeeping forces, such as the United Nations Peacekeeping Forces, defense ministries and other government agencies engaged in defense projects, paramilitary forces (when judged to be trained and equipped for military operations) and military space activities. Expenditure on personnel (including salaries and social services of both military and civil personnel, and retirement pensions of military personnel), procurement, research and development, infrastructure spending, military aid (taken as expenditure by the donor country) and general operations and maintenance are also included. Note that current expenditure on previous military activity such as veterans’ benefits, weapon destruction, demobilization, and defense conversion are all excluded, as is expenditure on civil defense.
- The Australian defense spending market had a total budget allocation of $26,291.0m in 2019, representing a compound annual growth rate (CAGR) of 2.8% between 2015 and 2019.
- Market consumption volume increased with a CAGR of 0.7% between 2015 and 2019, to reach a total of 59,393 active serving personnel in 2019.
- Australia has been aiming to achieve the 2% defense spending to GDP ratio for a number of years. Much of this revolves around the demands of defending Australia against turmoil in the South China Sea, an area where tensions continue to build.
Scope - Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the defense spending market in Australia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the defense spending market in Australia
- Leading company profiles reveal details of key defense spending market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Australia defense spending market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the Australia defense spending market by value in 2019?
- What will be the size of the Australia defense spending market in 2024?
- What factors are affecting the strength of competition in the Australia defense spending market?
- How has the market performed over the last five years?
- What are the main segments that make up Australia’s defense spending market?
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