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Future of the Bangladeshi Defense Industry
– Market Attractiveness, Competitive
Landscape and Forecasts to 2019
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
2
Summary
―Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts
to 2019‖ report offers the reader detailed analysis of the defense budget over the next five years. Alongside
it offers insights into the market opportunities and entry strategies adopted by foreign OEMs (original
equipment manufacturers) to gain a market share in the Bangladeshi defense industry.
The report provides detailed analysis of the current industry size and growth expectations during 2015-2019,
including highlights of the key growth stimulators. It also benchmarks the industry against key global markets
and provides detailed understanding of emerging opportunities in specific areas.
Key Findings
Bangladesh — a country that came into existence only a few decades ago following a war of liberation in
1971 — has a defense budget that registered a CAGR of 7.86% over 2010–2014. The country allocated
US$1.6 billion to the defense sector in 2010, which increased to US$2.2 billion in2014. This trend is
expected to continue during the forecast period, owing to the government’s well-defined military
modernization plans and the country’s active and consistent participation in various peacekeeping missions.
During the forecast period, the defense budget is projected to increase from US$2.3 billion in 2015 to
US$3.2 billion in 2019, at a CAGR of 8.71%. Despite a rapidly growing population, the country’s per capita
defense expenditure is also expected to increase from US$13.7 in 2014 to US$19.4 in 2019.
Key Features and Benefits
The report provides detailed analysis of the Bangladeshi defense industry during 2010–2019, including the
factors that influence the military expenditure. It provides detailed expectations of growth rates and projected
total expenditure.
It provides the manufacturers with insights on market opportunities along with industry structure and
dynamics prevalent in the country. In addition, the report focuses on the regulations governing the
Bangladeshi defense industry and the potential market entry strategies with an expert analysis of the
competitive structure.
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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1. Market Attractiveness and Emerging Opportunities
1.1. Defense Market Size Historical and Forecast
1.1.1. Bangladeshi defense budget to grow at a CAGR of XX% over the forecast period
The Bangladeshi defense budget increased from US$XX billion in 2010 to US$XX billion in 2014, at a CAGR
of XX%. Modernizing the armed forces remains the government’s prime commitment, and it is working out a
well-defined military hardware procurement plan in support of this. Between 2010 and 2014, the government
added a range of advanced equipment to its fleet; including anti-tank and anti-ship missile systems, fighter
aircraft, patrol boats, armored vehicles, and helicopters. Over the forecast period, Bangladesh’s defense
budget is projected to increase from US$XX billion in 2015 to US$XX billion in 2019, reflecting a CAGR of
XX%. Owing to the nation’s extensive modernization goals, the government is expected to collaborate with
foreign partners and purchase tanks, radars, various aircraft, air defense systems, survey ships, and self-
propelled guns.
The following table and figure show the Bangladeshi defense expenditure between 2010 and 2014:
Table 1: Bangladeshi Defense Expenditure (US$ Billion), 2010-2014
Year Defense expenditure (US$ bn)
Defense growth percentage
2010
2011
2012
2013
2014
CAGR 2010-2014
Source: Ministry of Finance and SDI analysis © SDI
Figure 1: Bangladeshi Defense Expenditure (US$ Billion), 2010-2014
Source: Ministry of Finance and SDI analysis © SDI
-5%
0%
5%
10%
15%
20%
0.0
0.5
1.0
1.5
2.0
2.5
2010 2011 2012 2013 2014
Def
ense
exp
end
itu
re g
row
th r
ate
(%)
Def
ense
bu
dg
et (
US
$ B
illi
on
)
Defense Expenditure (US$ bn) Growth Rate (%)
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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The following table and figure show projected defense expenditure of Bangladesh over the forecast period:
Table 2: Bangladeshi Defense Expenditure (US$ Billion), 2015-2019
Year Defense expenditure (US$ bn)
Defense growth percentage
2015
2016
2017
2018
2019
CAGR 2015-2019
Source: Ministry of Finance and SDI analysis © SDI
Figure 2: Bangladeshi Defense Expenditure (US$ Billion), 2015-2019
Source: Ministry of Finance and SDI analysis © SDI
0%
2%
4%
6%
8%
10%
12%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2015 2016 2017 2018 2019
Defe
nse e
xp
en
dit
ure
gro
wth
rate
(%
)
Defe
nse b
ud
get
(US
$ B
illi
on
)
Defence Expenditure (US$ bn) Defense expenditure growth %
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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1.2. Analysis of Defense Budget Allocation
1.2.1. Share of capital expenditure to average XX% over 2015–2019
Of the total defense budget, the capital expenditure allocation increased from XX% in 2010 to XX% in 2014
due to the country’s defense modernization efforts. Conversely, the country’s defense revenue expenditure,
which is directed towards salaries, repairs, maintenance and rehabilitation, supplies, services and subsidies,
pensions, and gratuities, declined from XX% in 2010 to XX% in 2014. Over the forecast period, Bangladesh
is expected to allocate an average of XX% of the defense budget to capital expenditure, while the remaining
will be assigned to revenue expenditure.
The following table and chart display Bangladesh’s defense budget share of capital and revenue expenditure
between 2010 and 2014:
Table 3: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2010–2014
Year Capital Expenditure Share Revenue Expenditure Share
2010
2011
2012
2013
2014
Source: Ministry of Finance, Bangladesh and SDI analysis © SDI
Figure 3: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2010-2014
Source: Ministry of Finance, Bangladesh and SDI analysis © SDI
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2010 2011 2012 2013 2014
Defe
nse B
ud
get
Sp
lit
(%)
Capital Expenditure Revenue Expenditure
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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The following table and chart display Bangladesh’s defense budget share of capital and revenue expenditure
over the forecast period:
Table 4: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2015–2019
Year Capital Expenditure Share Revenue Expenditure Share
2015
2016
2017
2018
2019
Source: Ministry of Finance, Bangladesh and SDI analysis © SDI
Figure 4: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%),
2015-2019
Source: Ministry of Finance, Bangladesh and SDI analysis © SDI
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2015 2016 2017 2018 2019
Defe
nse B
ud
get
Sp
lit
(%)
Capital Expenditure Revenue Expenditure
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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1.3. Homeland Security Market Size and Forecast
1.3.1. Bangladeshi homeland security expected to be US$XX billion over the forecast period
Between 2010 and 2014, the country’s homeland security expenditure grew at a CAGR of XX% to value
US$XX billion in 2014 and is expected to record a CAGR of XX% over the forecast period. The nation’s
homeland security expenditure is expected to be driven by the need to counter internal security threats posed
by smugglers, and to lend support to its military network. Furthermore, the government plans to construct a
number of new police stations and outposts. Cumulatively, the country is projected to invest US$XX billion on
its internal security over 2015–2019.
The table and chart below show Bangladesh’s homeland security expenditure between 2010 and 2014:
Table 5: Bangladeshi Homeland Security Expenditure (US$ million), 2010-2014
Year Homeland expenditure (US$ million)
% Growth
2010
2011
2012
2013
2014
Source: Ministry of Finance, Bangladesh and SDI analysis © SDI
Figure 5: Bangladeshi Homeland Security Expenditure (US$ million), 2010-2014
Source: Ministry of Finance, Bangladesh and SDI analysis © SDI
0%
5%
10%
15%
20%
25%
30%
35%
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
2010 2011 2012 2013 2014
Gro
wth
rat
e (%
)
Ho
mel
and
Sec
uri
ty E
xpen
dit
ure
(U
S$
Bn
)
Homeland Security Expenditure (US$ Bn) Growth Rate (%)
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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2. Industry Dynamics - Porter’s Five Forces Analysis
Figure 4: Industry Dynamics – Porter’s Five Forces Analysis
Source: SDI analysis © SDI
Intensity of Rivalry Bargaining Power of Supplier
Bargaining Power of Buyer
Barrier to Entry
Threat of Substitute
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Report Methodology
SDI’s dedicated research and analysis teams consist of experienced professionals with a background in
industry research and consulting in the defense sector. The following research methodology is followed for all
databases and reports:
Secondary Research
The research process begins with exhaustive secondary research to source reliable qualitative and
quantitative information related to the defense market. The secondary research sources that are typically
referred to include, but are not limited to:
Industry associations
National government documents and statistical databases
Company websites, annual reports, financial reports, broker reports, investor presentations
Industry trade journals and other literature
Internal and external proprietary databases
News articles, press releases, and webcasts specific to the companies operating in the market
Primary Research
SDI conducts hundreds of primary interviews a year with industry participants and commentators in order to
validate its data and analysis. A typical research interview fulfills the following functions:
Provides first-hand information on market size, market trends, growth trends, competitive landscape,
and future outlook
Helps to validate and strengthen secondary research findings
Further develops the analysis team’s expertise and market understanding
Primary research involves e-mail interactions, telephone interviews, and face-to-face interviews for
each market category, division, and sub-division across geographies
The participants who typically take part in such a process include, but are not limited to:
Industry participants: CEOs, VPs, business development managers, market intelligence managers,
and national sales managers
External experts: investment bankers, valuation experts, research analysts, and key opinion leaders
specializing in defense markets
Conventions
Currency conversions are performed on the basis of average annual conversion rate format
calculations
All the values in tables, with the exception of compounded annual growth rate (CAGR) and
compounded annual rate of change (CARC), are displayed to one decimal place; therefore, due to
this rounding method, growth rates may appear inconsistent with absolute values
The forecasted values are projected on the basis of nominal values; the inflation was not taken into account
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TABLE OF CONTENTS
1. Introduction ........................................................................................................................... 9
1.1. What is this Report About? ........................................................................................................... 9
1.2. Definitions ...................................................................................................................................... 9
1.3. Summary Methodology .................................................................................................................11
1.4. SDI Terrorism Index ......................................................................................................................12
1.5. About Strategic Defence Intelligence ..........................................................................................12
2. Executive Summary ............................................................................................................ 13
3. Market Attractiveness and Emerging Opportunities ........................................................ 15
3.1. Defense Market Size Historical and Forecast..............................................................................16
3.1.1. Bangladeshi defense budget to grow at a CAGR of XX% over the forecast period ................................ 16
3.1.2. Military modernization and peacekeeping missions are expected to drive defense expenditure over the
forecast period ...................................................................................................................................................... 20
3.1.3. Bangladeshi defense expenditure as a percentage of GDP set to decrease over the forecast period.... 21
3.2. Analysis of Defense Budget Allocation .......................................................................................23
3.2.1. Share of capital expenditure to average XX%over 2015–2019................................................................ 23
3.2.2. Need to replace obsolete equipment to drive defense capital expenditure .............................................. 25
3.2.3. The Army accounts for the majority share of defense expenditure .......................................................... 29
3.2.4. The country is expected to invest US$XX billion in its army during the forecast period .......................... 31
3.2.5. Air force defense budget projected to grow at a CAGR of XX% during the forecast period .................... 35
3.2.6. Navy expenditure expected to register CAGR of XX% during the forecast period .................................. 39
3.2.7. Per capita defense expenditure expected to increase over the forecast period ...................................... 43
3.3. Homeland Security Market Size and Forecast ............................................................................45
3.3.1. Bangladeshi homeland security expected to be US$XX billion over the forecast period ......................... 45
3.3.2. Efforts to combat drug smuggling and human trafficking are expected to stimulate Bangladeshi
homeland security expenditure ............................................................................................................................. 49
3.3.3. Bangladesh falls under the ―some risk‖ category ..................................................................................... 50
3.4. Benchmarking with Key Global Markets .....................................................................................52
3.4.1. Bangladeshi defense budget expected to increase at a CAGR of XX% over the forecast period ........... 52
3.4.2. Bangladeshi military expenditure remains very low compared to other Asian countries ......................... 54
3.4.3. The country allocates a low percentage of its GDP towards defense sector ........................................... 55
3.4.4. Bangladesh faces some threat from terrorist organizations ..................................................................... 56
3.5. Market Opportunities: Key Trends and Growth Stimulators ......................................................58
3.5.1. Patrolling crafts are forecast to experience an increase in demand ........................................................ 58
3.5.2. Demand for aircraft expected to surge during the forecast period ........................................................... 58
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3.5.3. Demand for helicopters to mount in the coming years ............................................................................. 59
4. Defense Procurement Market Dynamics ........................................................................... 60
4.1. Import Market Dynamics ...............................................................................................................61
4.1.1. Defense imports are expected to increase over the period 2015–2019 ................................................... 61
4.1.2. Weapons manufactured in China comprised the majority of imports for Bangladesh.............................. 62
4.1.3. Armored vehicles and ships dominated military hardware imports .......................................................... 63
4.2. Export Market Dynamics ..............................................................................................................64
4.2.1. The country exported negligible defense goods during 2010–2013 ........................................................ 64
5. Industry Dynamics .............................................................................................................. 65
5.1. Five Forces Analysis.....................................................................................................................65
5.1.1. Bargaining power of supplier: high ........................................................................................................... 66
5.1.2. Bargaining power of buyer: low ................................................................................................................ 66
5.1.3. Barrier to entry: medium ........................................................................................................................... 66
5.1.4. Intensity of rivalry: low to high .................................................................................................................. 66
5.1.5. Threat of substitution: medium to high ..................................................................................................... 66
6. Market Entry Strategy ......................................................................................................... 67
6.1. Market Regulation .........................................................................................................................67
6.1.1. Bangladesh does not disclose any offset obligations imposed by the country ........................................ 67
6.1.2. Foreign direct investment (FDI) in the defense sector not disclosed by the government ........................ 67
6.2. Market Entry Route .......................................................................................................................67
6.2.1. Equipment manufacturers enter the market through government-to-government deals ......................... 67
6.2.2. Joint venture and license manufacturing agreements provide an attractive market entry route .............. 67
6.3. Key Challenges .............................................................................................................................68
6.3.1. Limited defense budget deters investors from market entry .................................................................... 68
6.3.2. Corruption hinders growth of the Bangladeshi defense sector................................................................. 68
6.3.3. Chinese companies dominate the market, creating a challenge for other foreign firms .......................... 68
7. Competitive Landscape and Strategic Insights ................................................................ 69
7.1. Competitive Landscape Overview ...............................................................................................69
7.2. Key Companies .............................................................................................................................69
7.2.1. Bangladesh Ordnance Factories: overview .............................................................................................. 69
7.2.2. Bangladesh Ordnance Factories: products .............................................................................................. 69
7.2.3. Bangladesh Machine Tools Factory (BMTF) Ltd: overview ...................................................................... 70
7.2.4. Bangladesh Machine Tools Factory: products ......................................................................................... 70
7.2.5. AgustaWestland: overview ....................................................................................................................... 71
7.2.6. AgustaWestland: products ........................................................................................................................ 71
7.2.7. AgustaWestland: recent contract wins ..................................................................................................... 72
7.2.8. Eurocopter: overview ................................................................................................................................ 73
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7.2.9. Eurocopter: products ................................................................................................................................ 73
7.2.10. Eurocopter: recent contract wins .............................................................................................................. 73
8. Business Environment and Country Risk ......................................................................... 74
8.1. Demographics & Social Statistics ................................................................................................74
8.1.1. Population – Rural .................................................................................................................................... 74
8.1.2. Population - Urban .................................................................................................................................... 75
8.1.3. Population – Number of Households ........................................................................................................ 76
8.2. Economic Performance ................................................................................................................77
8.2.1. Gross Domestic per Capita....................................................................................................................... 77
8.2.2. Gross Domestic Product, current US$ ..................................................................................................... 78
8.2.3. Exports of Goods and Services ................................................................................................................ 79
8.2.4. Imports of Goods and Services ................................................................................................................ 80
8.2.5. Gross National Disposable Income .......................................................................................................... 81
8.2.6. Manufacturing Output ............................................................................................................................... 82
8.2.7. Consumer Price Index .............................................................................................................................. 83
8.2.8. Local Currency Unit per US$ .................................................................................................................... 84
8.2.9. Local Currency Unit per EUR ................................................................................................................... 85
8.2.10. Lending Rate (%) ...................................................................................................................................... 86
8.2.11. Deposit Rate (%) ...................................................................................................................................... 87
8.2.12. Real Interest Rate (%) .............................................................................................................................. 88
8.2.13. Market Capitalization of Listed Companies .............................................................................................. 89
8.2.14. Market Capitalization of Listed Companies as a % of GDP ..................................................................... 90
8.2.15. Total Government cash surplus/deficit (LCU Bn) ..................................................................................... 91
8.2.16. Government cash surplus/deficit as % of GDP (LCU) .............................................................................. 92
8.2.17. Goods Exports as a % of GDP ................................................................................................................. 93
8.2.18. Goods Imports as a % of GDP ................................................................................................................. 94
8.2.19. Goods Trade Surplus/Deficit as a % of GDP............................................................................................ 95
8.2.20. Services Imports as a % of GDP .............................................................................................................. 96
8.2.21. Services Exports as a % of GDP .............................................................................................................. 97
8.2.22. Services surplus/deficit as a % of GDP .................................................................................................... 98
8.2.23. Net Foreign Direct Investment .................................................................................................................. 99
8.2.24. Net FDI as a % of GDP ........................................................................................................................... 100
8.2.25. International reserves, including Gold .................................................................................................... 101
8.3. Energy and Utilities ..................................................................................................................... 102
8.3.1. Total Conventional Thermal Electricity Net Generation ......................................................................... 102
8.3.2. Hydroelectricity Net Generation .............................................................................................................. 103
8.3.3. Total Conventional Thermal Electricity Installed Capacity ..................................................................... 104
8.3.4. Proved Reserves of Natural Gas (Trillion Cubic Feet) ........................................................................... 105
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8.3.5. Total Petroleum Consumption ................................................................................................................ 106
8.3.6. Crude Oil Proved Reserves (Billion Barrels) .......................................................................................... 107
8.3.7. Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts) ............................................ 108
8.4. Infrastructure Quality and Availability ....................................................................................... 109
8.4.1. Rail lines (total route-km) ........................................................................................................................ 109
8.5. Minerals ....................................................................................................................................... 110
8.5.1. Mining, Manufacturing, Utilities Output ................................................................................................... 110
8.6. Telecommunication .................................................................................................................... 111
8.6.1. Telephone lines ...................................................................................................................................... 111
8.6.2. Telephone lines Penetration Rate .......................................................................................................... 112
9. Appendix ............................................................................................................................ 113
9.1. About SDI ..................................................................................................................................... 113
9.2. Disclaimer .................................................................................................................................... 113
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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LIST OF FIGURES
Figure 1: Bangladeshi Defense Expenditure (US$ Billion), 2010–2014 ............................................................................................................... 16 Figure 2: Bangladeshi Defense Expenditure (US$ Billion), 2015–2019 ............................................................................................................... 17 Figure 3: Bangladeshi Defense Expenditure (BDT Billion), 2010–2014 ............................................................................................................... 18 Figure 4: Bangladeshi Defense Expenditure (BDT Billion), 2015–2019 ............................................................................................................... 19 Figure 5: Bangladeshi GDP Growth vs. Defense Expenditure Growth and Defense Expenditures Percentage of GDP Growth, 2010–2014 ...... 21 Figure 6: Bangladeshi GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2015–2019 ... 22 Figure 7:Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2010–2014 .......................................................... 23 Figure 8:Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2015–2019 .......................................................... 24 Figure 9: Bangladeshi Defense Capital Expenditure (US$ million), 2010–2014 .................................................................................................. 25 Figure 10: Bangladeshi Defense Capital Expenditure (US$ million), 2015–2019 ................................................................................................ 26 Figure 11: Bangladeshi Capital Expenditure (BDT Billion), 2010–2014 ............................................................................................................... 27 Figure 12: Bangladeshi Capital Expenditure (BDT Billion), 2015–2019 ............................................................................................................... 28 Figure 13: Bangladeshi Defense Budget Allocation (%),2010–2014 ................................................................................................................... 29 Figure 14: Bangladeshi Defense Budget Allocation (%),2015–2019 ................................................................................................................... 30 Figure 15: Bangladeshi Defense Budget Allocation for Army (US$ Million), 2010–2014 .................................................................................... 31 Figure 16: Bangladeshi Defense Budget Allocation for Army (US$ Million), 2015–2019 .................................................................................... 32 Figure 17: Bangladeshi Expenditure for Army (BDT Billion), 2010–2014 ............................................................................................................ 33 Figure 18: Bangladeshi Defense Expenditure for Army (BDT Billion), 2015–2019.............................................................................................. 34 Figure 19: Bangladeshi Defense Budget Allocation for Air Force (US$ Million), 2010–2014 .............................................................................. 35 Figure 20: Bangladeshi Defense Budget Allocation for Air Force (US$ Million), 2015–2019 .............................................................................. 36 Figure 21: Bangladeshi Expenditure for Air Force (BDT Billion), 2010–2014....................................................................................................... 37 Figure 22: Bangladeshi Expenditure for Air Force (BDT Billion), 2015–2019....................................................................................................... 38 Figure 23: Bangladeshi Defense Budget Allocation for Navy (US$ Million), 2010–2014 ...................................................................................... 39 Figure 24: Bangladeshi Defense Budget Allocation for Navy (US$ Million), 2015–2019 ...................................................................................... 40 Figure 25: Bangladeshi Expenditure for Navy (BDT Billion), 2010–2014 ............................................................................................................. 41 Figure 26: Bangladeshi Expenditure for Navy (BDT Billion), 2015–2019 ............................................................................................................. 42 Figure 27: Bangladeshi Per Capita Defense Expenditure (US$), 2010–2014 ...................................................................................................... 43 Figure 28: Bangladeshi Per Capita Defense Expenditure (US$), 2015–2019 ...................................................................................................... 44 Figure 29: Bangladeshi Homeland Security Budget (US$ Billion),2010–2014 ..................................................................................................... 45 Figure 30: Bangladeshi Homeland Security Budget (US$ Billion), 2015–2019 .................................................................................................... 46 Figure 31: Bangladeshi Homeland Security Budget (BDT Billion), 2010–2014 .................................................................................................... 47 Figure 32: Bangladeshi Homeland Security Budget (BDT Billion), 2015–2019 .................................................................................................... 48 Figure 33: SDI Terrorism Heat Map, 2014 .......................................................................................................................................................... 50 Figure 34: SDI Terrorism Index, 2014 ................................................................................................................................................................. 51 Figure 35: Benchmarking with Key Markets – 2010–2014 vs. 2015–2019 .......................................................................................................... 53 Figure 36: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2014 and 2019 ............................................................ 54 Figure 37: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2014 ..................................................................... 55 Figure 38: Bangladeshi Defense Import Trend, 2010–2013 (TIV values) ............................................................................................................ 61 Figure 39: Bangladeshi Defense Imports by Country (%), 2010–2013 ................................................................................................................ 62 Figure 40: Bangladeshi Defense Imports by Category (%), 2010–2013 .............................................................................................................. 63 Figure 41: Industry Dynamics - Porter’s Five Forces Analysis............................................................................................................................. 65 Figure 42: Bangladeshi Population – Rural (In Millions), 2014–2023 .................................................................................................................. 74 Figure 43: Bangladeshi Population – Urban (In Millions), 2014–2023 ................................................................................................................. 75 Figure 44: Bangladeshi Population – Number of Households (In Millions), 2008–2017 ....................................................................................... 76 Figure 45: Bangladeshi GDP per capita at Constant Prices (US$), 2014–2023 .................................................................................................. 77 Figure 46: Bangladeshi Gross Domestic Product (current US$ Bn),2014–2023 .................................................................................................. 78 Figure 47: Bangladeshi Exports of goods and services (current US$ Bn), 2003–2012 ........................................................................................ 79 Figure 48: Bangladeshi Imports of goods and services (current US$ Bn), 2003–2012 ........................................................................................ 80 Figure 49: Bangladeshi Gross National Disposable Income (US$ Bn), 2002–2011 ............................................................................................. 81 Figure 50: Bangladeshi Manufacturing Output (US$ Bn), 2003–2012 ................................................................................................................. 82 Figure 51: Bangladeshi Consumer Price Index, 2014–2023 ............................................................................................................................... 83 Figure 52: Bangladeshi LCU per US$, 2014–2023 ............................................................................................................................................. 84 Figure 53: Bangladeshi LCU per EUR, 2014–2023 ............................................................................................................................................. 85 Figure 54: Bangladeshi Lending Rate (%), 2003–2012 ....................................................................................................................................... 86 Figure 55: Bangladeshi Deposit Rate (%), 2003–2012 ....................................................................................................................................... 87 Figure 56: Bangladeshi Real Interest Rate (%), 2003–2012 ............................................................................................................................... 88
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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Figure 57: Bangladeshi Market Capitalization of listed Companies (US$ Bn), 2003–2012 .................................................................................. 89 Figure 58: Bangladeshi Market Capitalization of listed Companies as a % of GDP, 2002–2011 ......................................................................... 90 Figure 59: Bangladeshi Total Government cash surplus/deficit (LCU Bn), 2002–2011 ........................................................................................ 91 Figure 60: Bangladeshi Government cash surplus/deficit as % of GDP (LCU), 2002–2011 ................................................................................ 92 Figure 61: Bangladeshi Goods Exports as a % of GDP, 2002–2011 ................................................................................................................... 93 Figure 62: Bangladeshi Goods Imports as a % of GDP,2002–2011 .................................................................................................................... 94 Figure 63: Bangladeshi Goods Trade Surplus/Deficit as a % of GDP, 2003–2011 .............................................................................................. 95 Figure 64: Bangladeshi Services Imports as a % of GDP, 2002–2011 ................................................................................................................ 96 Figure 65: Bangladeshi Services Exports as a % of GDP, 2003–2011 ................................................................................................................ 97 Figure 66: Bangladeshi Services surplus/deficit as a % of GDP, 2002–2011 ...................................................................................................... 98 Figure 67: Bangladeshi Net Foreign Direct Investment (current US$ BN), 2002–2011 ........................................................................................ 99 Figure 68: Bangladeshi Net FDI as a % of GDP, 2002–2011 .............................................................................................................................100 Figure 69: Bangladeshi International reserves, including Gold (US$ Bn), 2002–2011 ........................................................................................101 Figure 70: Bangladeshi Total Conventional Thermal Electricity Net Generation (Bn KWH), 2002–2011 .............................................................102 Figure 71: Bangladeshi Hydroelectricity Net Generation (Bn KWH), 2002–2011 ................................................................................................103 Figure 72: Bangladeshi Total Conventional Thermal Electricity Installed Capacity (Million Kilowatts), 2001–2010 .............................................104 Figure 73: Bangladeshi Proved Reserves of Natural Gas (Trillion Cubic Feet), 2004–2013 ...............................................................................105 Figure 74: Bangladeshi Total Petroleum Consumption (Thousand Barrels per Day), 2003–2012 ......................................................................106 Figure 75: Bangladeshi Crude Oil Proved Reserves (Billion Barrels), 2004–2013 ..............................................................................................107 Figure 76: Bangladeshi Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts), 2002–2011 ................................................108 Figure 77: Bangladeshi Rail lines (total route-km), 2002–2011 ..........................................................................................................................109 Figure 78: Bangladeshi Mining, Manufacturing, Utilities Output(US$ Bn), 2003–2012 .......................................................................................110 Figure 79: Bangladeshi Telephone lines, 2003–2012 ........................................................................................................................................111 Figure 80: Bangladeshi Telephone lines Penetration Rate (per 100 people), 2002–2011 ..................................................................................112
Future of the Bangladeshi Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019
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LIST OF TABLES
Table 1: Bangladeshi Defense Expenditure (US$ Billion), 2010–2014 ................................................................................................................ 16 Table 2: Bangladeshi Defense Expenditure (US$ Billion), 2015–2019 ................................................................................................................ 17 Table 3: Bangladeshi Defense Expenditure (BDT Billion), 2010–2014 ................................................................................................................ 18 Table 4: Bangladeshi Defense Expenditure (BDT Billion), 2015–2019 ................................................................................................................ 19 Table 5: Bangladeshi GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2010–2014 ..... 21 Table 6: Bangladeshi GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2015–2019 ..... 22 Table 7: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2010–2014 .......................................................... 23 Table 8: Bangladeshi Defense Budget Split Between Capital and Revenue Expenditure (%), 2015–2019 .......................................................... 24 Table 9: Bangladeshi Defense Capital Expenditure (US$ million), 2010–2014.................................................................................................... 25 Table 10: Bangladeshi Defense Capital Expenditure (US$ million), 2015–2019 .................................................................................................. 26 Table 11: Bangladeshi Capital Expenditure (BDT Billion), 2010–2014 ................................................................................................................ 27 Table 12: Bangladeshi Capital Expenditure (BDT Billion), 2015–2019 ................................................................................................................ 28 Table 13: Bangladeshi Defense Budget Allocation (%), 2010–2014 .................................................................................................................... 29 Table 14: Bangladeshi Defense Budget Allocation (%),2015–2019..................................................................................................................... 30 Table 15: Bangladeshi Defense Budget Allocation for Army (US$ Million), 2010–2014 ...................................................................................... 31 Table 16: Bangladeshi Defense Budget Allocation for Army (US$ Million), 2015–2019 ...................................................................................... 32 Table 17: Bangladeshi Expenditure for Army (BDT Billion), 2010–2014 ............................................................................................................. 33 Table 18: Bangladeshi Defense Expenditure for Army (BDT Billion), 2015–2019 ............................................................................................... 34 Table 19: Bangladeshi Defense Budget Allocation for Air Force (US$ Million), 2010–2014 ................................................................................ 35 Table 20: Bangladeshi Defense Budget Allocation for Air Force (US$ Million), 2015–2019 ................................................................................ 36 Table 21: Bangladeshi Expenditure for Air Force (BDT Billion), 2010–2014 ........................................................................................................ 37 Table 22: Bangladeshi Expenditure for Air Force (BDT Billion), 2015–2019 ........................................................................................................ 38 Table 23: Bangladeshi Defense Budget Allocation for Navy (US$ Million), 2010–2014 ....................................................................................... 39 Table 24: Bangladeshi Defense Budget Allocation for Navy (US$ Million), 2015–2019 ....................................................................................... 40 Table 25: Bangladeshi Expenditure for Navy (BDT Billion), 2010–2014 .............................................................................................................. 41 Table 26: Bangladeshi Expenditure for Navy (BDT Billion), 2015–2019 .............................................................................................................. 42 Table 27: Bangladeshi Per Capita Defense Expenditure (US$), 2010–2014 ....................................................................................................... 43 Table 28: Bangladeshi Per Capita Defense Expenditure (US$), 2015–2019 ....................................................................................................... 44 Table 29: Bangladeshi Homeland Security Budget (US$ Billion),2010–2014 ...................................................................................................... 45 Table 30: Bangladeshi Homeland Security Budget (US$ Billion), 2015–2019 ..................................................................................................... 46 Table 31: Bangladeshi Homeland Security Budget (BDT Billion), 2010–2014 ..................................................................................................... 47 Table 32: Bangladeshi Homeland Security Budget (BDT Billion), 2015–2019 ..................................................................................................... 48 Table 33: Benchmarking with Key Markets – 2010–2014 vs. 2015–2019............................................................................................................ 52 Table34: SDI Terrorism Index ............................................................................................................................................................................. 56 Table 35: Bangladesh Ordnance Factories – Key Products and Services ........................................................................................................... 69 Table 36: Bangladesh Machine Tools Factory – Key Products and Services ...................................................................................................... 70 Table 37: AgustaWestland – Key Products and Services.................................................................................................................................... 71 Table 38: AgustaWestland – Recent Contracts ................................................................................................................................................... 72 Table 39: Eurocopter– Key Products and Services ............................................................................................................................................. 73 Table 40: Eurocopter – Recent Contracts ........................................................................................................................................................... 73