Bangladesh Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

Bangladesh Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

Summary

Bangladesh Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Bangladesh experienced a low Compound Annual Growth Rate (CAGR) of 1.1% over the historic period 2019-23, with defense budget allocations rising from $3.9 billion in 2019 to $4.1 billion in 2023. However, in contrast to this historical trend, projections indicate a persistent and notable upward trajectory. Over the forecast period, the defense budget is projected to increase from $4.3 billion in 2024 to $5.3 billion in 2028, at a CAGR of 5.2%. This shift is driven by the government's strategic military modernization plan, 'Forces Goal 2030,' aimed at enhancing the armed forces’ capabilities.

Key Highlights

• The acquisition budget for 2023 is $0.9 billion. It is expected to grow to $1.5 billion in 2028 at a CAGR of 8.7% over 2024-28, primarily due to the modernization of the navy, army, and air force. The Bangladeshi government aims to maintain international and regional security and continue peacekeeping activities.
• The most attractive sectors in Bangladesh’s defense market are naval vessels and surface combatants, tactical communication systems and electronic warfare systems.

Scope

This report offers a detailed analysis of Bangladesh defense market 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 -

• Bangladesh defense budget: detailed analysis of Bangladesh 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of Bangladesh's military doctrine and strategy to provide a comprehensive overview of Bangladesh's military procurement regulation.
• Security Environment: political alliances and perceived security threats to Bangladesh are examined; they help to explain trends in spending and modernization.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Bangladesh's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Bangladesh defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Bangladesh market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Bangladesh defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Bangladeshn government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available