Boston, MA -- (ReleaseWire) -- 03/07/2014 -- BMI believes that the Turkish defence budget will increase to US$19.4bn in 2014, before rising once again to US$21.7 in 2015. We expect Turkey's defence budget to continue increasingly in the final three years of our forecast period, climbing to US$23.6bn in 2016, US$26.6bn in 2017 and completing the forecast period to US$29.7 in 2018. Moreover, in 2014, BMI expects that the defence budget will increase to 2.4% of GDP in 2014 rising to 2.7% by 2018.
Turkey is a net exporter of defence equipment, exporting on average US$162.8mn of military equipment and defence services between 2010 and 2013. While the country does import quantities of materiel from the international arms market, it is emerging as a major exporter of military equipment. In particular, the country is showing its expertise in the production of defence electronics and also naval shipbuilding. That said several large platforms such as main battle tanks, multirole combat aircraft and surface-to-air missiles are imported from foreign suppliers.
View Full Report Details and Table of Contents
In late January 2014, Turkey announced that it would commence the manufacture of an indigenously designed multirole combat aircraft, known as the TFX. The final say on whether this project will go ahead will lie with the country's Defence Industry Executive Committee. The programme is predicted to cost over US$50bn during the next decade if it is given the go ahead.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Defense research reports at Fast Market Research
You may also be interested in these related reports:
- India Defence & Security Report Q2 2014
- South Korea Defence & Security Report Q2 2014
- Singapore Defence & Security Report Q2 2014
- Brazil Defence & Security Report Q2 2014
- Poland Defence & Security Report Q2 2014
- Iran Defence & Security Report Q2 2014
- Russia Defence & Security Report Q2 2014
- Kazakhstan and Central Asia Defence & Security Report Q2 2014
- Egypt Defence & Security Report Q2 2014
- Saudi Arabia Defence & Security Report Q2 2014