The Swedish Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017

London, August 29th, 2012 – Swedish defense expenditure, valuing US$6.7 billion in 2012, registered a CAGR of 1.9% during the review period (2008 – 2012). During the forecast period it is expected to grow at a CAGR of 2.4% to reach US$7.6 billion in 2017. On a cumulative basis, Sweden is expected to invest US$36.5 billion in its armed forces during the forecast period (2013-2017), a figure primarily stimulated by factors such as international peacekeeping missions, government modernization initiatives, and new security threats posed by Russia (see graph below).  

Despite the marginal increase expected for the country’s total defense budget during the forecast period, the actual defense budget is expected to increase from US$6.73 billion in 2012 to US$7.62 billion in 2017. However, the budget is not large enough to fulfil all defense requirements, which has led to the cancellation of some projects. For example, the country’s SEP (Spitterskyddad Enhets Platform) land vehicle design project, which was jointly undertaken with BAE Systems, was cancelled due to budget constraints. Low budget and the potential cancellation of projects means foreign investors are wary to enter the market.

Offsets are mandatory in Sweden for all defense procurements exceeding US$13.9 million. However, the nation has no provision for multipliers, which discourages foreign suppliers while doing business with Sweden. Countries generally use offset multipliers as a tool to attract investments into industry sectors they consider to be critical or underfunded. Foreign suppliers have shown reluctance while transferring crucial defense technology to Sweden because it is not incentivized by way of offset multipliers. As such, the presence of foreign defense firms in European countries which offer multipliers is higher than in Sweden. The absence of multipliers limits the share of foreign defense firms within the Swedish military industry to an estimated 10%.

Sweden possesses a well-developed domestic defense capability, and is able to produce advanced defense systems such as fighter aircrafts, submarines and naval vessels from domestic defense companies. However, defense products manufactured in the country are highly sophisticated, which increases training requirements, and are also expensive. As a result, the country procures military equipment from foreign defense firms through competitive bidding in order to reduce costs. As such, imports account for the remaining 10% of demand for defense equipment. During the forecast period Swedish defense imports are not anticipated to increase significantly, as a result of the country’s attempts to reduce total defense expenditure.

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The Future of Foodservice in United Arab Emirates to 2016

Increase in health concerns encourage a new demand for healthy convenience food
 

London, August 20th, 2012 – In 2011, the profit sector accounted for 91.8% of total sales, which represented a value of AED17,672.4 million (US$4,812.2million) and a CAGR of 6.23% in local currency. The cost sector, which accounted for the remaining 8.2% of the total Emirati foodservice industry sales in 2011, grew at a CAGR of 6.36% in local currency from AED1,156.8 million (US$315.0million) in 2006 to AED1,574.4million (US$428.7million) in 2011 (reference graph below).  

The restaurant channel remained the largest in terms of foodservice sales, contributed for 56.2% of profit sector sales.  The growth in restaurant sales was primarily a reflection of the increase in sales by coffee and teas shops, and quick-service restaurant (QSR) and fast food shops. The largest channel in the cost sector was education foodservices, which contributed 58.8% to the total cost sector sales and recorded a CAGR of 6.55%.

A strong economic growth is one of the major growth drivers for the foodservice industry in the UAE. The Emirati economy is dynamic and growing, and is considered to be one of the fastest growing economies in the Middle East and Africa. A reduction in the unemployment rate led to higher footfall and increased consumer spending.

The fluctuating inflation rate had a negative impact on the foodservice industry, which rose from 6.2% in 2006 to 12.3% in 2008, but fell to 0.9% in 2010, and is forecast to reach 2.5% in 2012. Fluctuations in inflation influence the purchasing decisions of consumers.

Tourism growth in the UAE has been one of the major factors behind its economic development over the review period. The UAE is one of the most easy to visit Middle East countries due to easily obtained visas. With the growth of the tourism industry and thereby the hotel and leisure industries, the foodservice sector is therefore expected to benefit as well.

Over the review period, demographic and social changes have shaped the growth of the foodservice industry in the UAE. A growth in ethnic diversity within the Emirati society has influenced food consumption patterns and demand.

There has been a growth in the proportion of females in the total working population of the country over the review period. Such demographic developments tend to promote the growth of western restaurants, especially fast-food restaurants, cafes, and other quick-service outlets.

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The Global Naval Vessels MRO Market 2012–2022

London, August 17th, 2012 – The Naval Vessels MRO market consists of four categories: Destroyers MRO, Frigates MRO, Submarines MRO and Aircraft Carriers MRO. The value of the market is expected to increase at a CAGR of 9.68% during the forecast period (2012-2022).

Recent years have witnessed various countries upgrading their fleet of naval warships including frigates, cruisers, destroyers and amphibious ships with ballistic missile defense capabilities. With various countries currently involved in border disputes and other geo-political conflicts, governments are now upgrading their naval vessels with anti-ballistic missiles to combat existing threats. Specifically, a ballistic missile threat currently exists in Europe, Asia and the Middle East and the governments of these countries are spending robustly to equip their warships with integrated air defense combat systems.

Navies around the world are increasingly outsourcing the maintenance and logistics support contracts, both to maintenance specialists and original equipment manufacturers (OEMs). This is primarily to increase their ability to respond to crisis situations and adapt to the dynamic nature of technology changes in the industry. The various blue water navies such as the Royal Navy, US Navy, Royal Australian, Hellenic and Royal Norwegian navies, as well as others in South America, have decided to adopt a strategy to focus their budgets on their field of expertise which includes managing fleet deployment and ensuring ships have a technological edge.

The naval vessels MRO sector is currently witnessing a phase of moderate M&A activity in keeping with the trend of sector consolidation when military demand falls. As defense spending has leveled off in recent years, companies operating in all areas of defense are looking to diversify their offerings in order to compete for the various contracts on offer, and add more revenue streams to their existing lines of business. Additionally, growing financial pressure, an overabundance of MRO companies and pressure from original equipment manufacturers (OEMs), is also expected to force a consolidation of the industry and a change in the MRO business model.

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The Columbian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017

Colombia is expected to spend US$97.5 billion on defense during 2013–2017 to counter both internal and external threats

London, August 16th, 2012 – The total defense expenditure of Colombia, which was estimated at US$10.5 billion in 2008, increased at a CAGR of 8.81% during the review period (2008-2012) to reach US$14.7 billion by 2012. The Colombian police force received an average of 24% of the total defense budget during the review period. Strategic Defence Intelligence estimates that Colombia’s defense expenditure as a percentage of its gross domestic product (GDP) will rise from 3.9% in 2012 to 4.8% in 2017. This translates to a budget increase from US$14.7 billion in 2012 to US$23.4 billion in 2017 (reference graph below).  

The Colombian Ministry of Defense acknowledged that cocaine smugglers and leftist rebels had infiltrated the senior levels of the Colombian army, impeding efforts to defeat guerrilla organizations and combat the drug trade. Indeed, the army discovered classified military information in computer files of guerrillas from the FARC rebel group, which led the Ministry of Defense to believe that senior military officials may be sharing information in exchange for bribes. In another incident, Diego Montoya, who is the perceived head of the Norte del Valle cartel and has been accused of exporting hundreds of tons of cocaine to the US, is believed to have recruited army officers to provide him with protection and help his brother, Eugenio Montoya, to escape from a high-security prison.

The total Colombian defense budget was US$11 billion in 2009, of which only US$1.5 billion was allocated for capital expenditure purposes. Currently, domestic defense firms meet the majority of defense requirements in the low technology area, while foreign procurement is undertaken when the adequate sophistication and technology is not available in the domestic market. Many foreign OEMs consider such a low level of defense expenditure as an unfavorable condition in which to enter the Colombian defense industry. Furthermore, the Colombian government does not currently allow foreign investment in its defense industry, which further prevents foreign OEMs from entering the industry.

The volume of Colombian defense imports growth has seen fluctuation over the last five years, except for 2008, when imports declined due to the global economic crisis. Historically, the US and Israel have been the major arms supplying countries to Colombia, which is expected to continue over the forecast period (2013-2017) due to the strong diplomatic relations between these nations. The majority of imports are aircraft, a trend that is expected to continue over the forecast period. Defense-related exports from Colombia are minimal, as the country does not have the sufficient technology or the manufacturing capability required to operate a significant defense export market. The country’s domestic defense industry largely caters to low-technology defense products, such as grenades, machine guns, rifles, aircraft parts, and MRO activities.

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Hong Kong Foodservice: The Future of Foodservice in Hong Kong to 2016

London, August 10th, 2012 – In 2011, the profit sector accounted for 97.6% of total foodservice sales in Hong Kong and recorded a CAGR of 7.03% over the review period (2006 - 2011).  The cost sector accounted for 2.4% of the total foodservice sales in the Hong Kong foodservice market and recorded a CAGR of 0.90% over the review period (see graph below).  Restaurants contributed to 78% of the total profit sector sales and recorded a CAGR of 7.60% over the review period. In the profit sector, pubs, clubs and bars recorded the highest CAGR, of 7.86%, followed by restaurants with a CAGR of 7.60%, retail with a CAGR of 6.44%, and leisure with a CAGR of 5.03%. Education, Hong Kong’s largest channel in cost sector contributed 75% of the total cost sector sales and grew at a CAGR of 0.52% over the review period.

The growth in tourism is expected to have positive effect on the growth of foodservice industry in Hong Kong. The prevalent trend of eating out found amongst the young generation, increasing demand of health food by the older population, and the increasing demand for fast-food by single family households, is expected to drive the demand for different varieties of foodservice.

Small households, the increasing number of women joining the workforce, and a busy lifestyle has led to an increased demand for fast-food and frozen meat. An increase in the ageing population has led to increased demand for functional food.

Increasing health awareness has encouraged the people of Hong Kong to turn towards natural and organic products. Most foodservice operators have also begun to offer organic food options in their menus to cater 

to the increased demand for such items.Rooftop restaurants are the latest trend in the Hong Kong foodservice market. Although prices in these restaurants and bars are considerably high, the ambience and the spectacular outside views are enough to retain consumers.

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The Future of Global Retailing to 2016

London, August 1st, 2012 - Global retail sales were dominated by food and grocery sales in 2011, accounting for over half of total sales that year. However, while this category was the largest, its sales are relatively stable year-on-year. Outside this dominant area, electrical and electronics had the fastest developing sales between 2006 and 2011, growing at an annual average rate of over 7%. In terms of market structure, general retailers were the largest channel group, contributing just under half towards total global retail sales in 2011.

In the review period (2006-2011), global retail sales grew at a CAGR of 7%. Canadean expects retail sales in the region to grow by over 8% annually during the forecast period (2012-2016). General retailers were the largest channel group, contributing 47.1% towards global retail sales in 2011, or US$6,756.8 billion in value terms. During the review period, online retailers were the fastest-growing channel group, with a CAGR of 14.27% and are expected to remain the fastest-growing category group during the forecast period (2012-2016), at a CAGR of 15.06%.

Asia-Pacific continues to dominate global retail sales. The contribution from the region is expected to increase from just over 30% in 2006 to just under half by 2016. Asia-Pacific is expected to continue to grow by over 10% every year through 2016.

Both Europe and North America are expected to see a decline in their share towards global retail sales. While Latin American share is expected to increase marginally by 2016, that of Middle East and Africa will remain unchanged. North America dominates the per-capita retail spend among all five regions, followed by Europe and Latin America.

This report provides detailed data on the size and development of retail sales of individual product types through specific retail channels and formats in the Global Market. It provides a detailed and comprehensive quantitative analysis of the trends affecting market development through both historic and forecast data, which allows marketers to understand the future pattern of market trends, from winners and losers to category and channel dynamics, and thereby quickly and easily identify the key areas in which they want to compete in the future.

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