Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) -- The "New Zealand Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.

This report provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

In particular, it provides an in-depth analysis of the following:

• The New Zealand's defense industry market size and drivers - detailed analysis of the New Zealand's defense industry during 2020-2024, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country's expenditure and modernization patterns
• Budget allocation and key challenges - insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to the army, navy, and air force. It also details the key challenges faced by defense market participants within the country
• Porter's Five Force analysis of the New Zealand's defense industry - analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
• Import and Export Dynamics - analysis of prevalent trends in the country's imports and exports over the last five years
• Market opportunities - details of the top five defense investment opportunities over the next 10 years
• Competitive landscape and strategic insights - analysis of the competitive landscape of the New Zealand's defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

New Zealand's isolated geographic location has benefited the country strategically and the country has traditionally maintained a basic defense posture with specific emphasis on surveillance and reconnaissance. This is demonstrated by the fact that the country's air force lacks aerial combat capabilities and the New Zealand Air Force does not possess any fighter aircraft within its inventory.

As a member of the Australia, New Zealand, United States Security Treaty (ANZUS or ANZUS Treaty), the country's security is guaranteed by its security alliance with Australia. However, over the years the treaty has increasingly adopted a global posture and thus has come to relate to global conflicts spread across the world. As per the provisions of the treaty, an attack on any of the three participant countries is considered an attack on all members, and as such each of the countries will take action to counter the common threat.

As a part of the New Zealand Defense Capability Plan, the country is anticipated to invest a cumulative total of NZ$20 billion (~US$13.24 billion), through 2030, in modernizing the country's defense capability. The country's total defense expenditure for 2019 stands at US$2.86 billion in 2019 and is forecasted to increase from US$2.88 billion in 2020, to US$3.90 billion in 2024, reflecting a CAGR of 7.88%.

Although New Zealand has historically been well insulated from terrorist threats, the country is increasingly being forced to deal with rising instances of radicalism and terrorist incidences. The 2019 Christchurch mosque shooting exposed the presence of deep-seated animosity and prejudice against certain communities. The country is wary of intentional acts of sabotage to its communication and ICT infrastructure, and is likely to increase investments in policing and cyber security to safeguard its strategic interests. Against this backdrop, New Zealand's homeland security (police) spending is valued at US$1.3 billion in 2019, and is anticipated to increase from US$1.4 billion in 2020 to US$1.7 billion by 2024, reflecting a CAGR of 5.74%.

New Zealand's defense imports are fairly low, and between 2014-2018 the country's cumulative defense imports were valued at just US$181 million. The US emerged as the single largest defense supplier to the country and accounted for a 78.5% share of New Zealand's defense market. The country also acquired defense equipment from other countries such as Australia, France, Canada, and Israel.

Key Highlights

• As an Island nation, it is prudent for New Zealand to ensure free-sea lanes of communication and New Zealand's navy is expected to cooperate closely with the US to secure its maritime boundaries and safeguard its strategic interests. As a part of the New Zealand Defense Capability Plan, the country is anticipated to invest a cumulative total of NZ$20 billion (~US$13.24 billion), through 2030, in modernizing the country's defense capability. Some of the high priority acquisition projects include the Maritime Helicopter Replacement program
• On a cumulative basis, the country is expected to invest US$16.9 billion for defense purposes, of which US$5.2 billion is earmarked for capital expenditure to fund defense procurements. The government's well-defined military modernization plans are expected to stimulate the expenditure over the next few years
• The MoD is expected to invest in transport aircraft, maritime patrol aircraft, C4ISR-Network and auxillary vessels among others.

Key Topics Covered

1. Introduction

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Procurement Programs
3.1.2. Key Drivers and Challenges
3.2. Defense Market Size Historical and Forecast
3.2.1. New Zealand's total defense expenditure to reach US$3.9 billion by 2024
3.2.2. Modernization and acquisition of military equipment and counterterrorism to drive New Zealand's defense expenditure
3.2.3. New Zealand's spending on defense services to reach US$2.2 billion by 2024
3.2.4. The country's defense expenditure as a percentage of GDP is expected to average 1.32% over the forecast period
3.3. Analysis of Defense Budget Allocation
3.3.1. Capital expenditure's share of total expenditure to increase considerably over the forecast period
3.3.2. Capital expenditure budget is expected to increase over the forecast period
3.3.3. The army accounted for the largest percentage share of the overall New Zealand appropriations for defense forces
3.3.4. Army will account for the highest share of the New Zealand defense forces spending
3.3.5. Per capita defense expenditure expected to increase over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. New Zealand's homeland security (HLS) budget is projected to increase at a CAGR of 5.74% over the forecast period
3.4.2. Organized crime forms the major component of homeland security expenditure
3.5. Benchmarking with Key Global Markets
3.5.1. New Zealand's defense expenditure is expected to increase at a CAGR of 7.88% over the forecast period
3.5.2. New Zealand's military expenditure is low compared to countries with the largest defense expenditure
3.5.3. New Zealand allocates a low percentage of GDP to defense
3.6. Market Opportunities: Key Trends and Growth Stimulators
3.6.1. Top 10 Defense Market Sectors by Value (US$ Million) - Projections over 2019-2024

4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. The country's current need to modernize its armed forces will drive defense imports
4.1.2. The US was the leading supplier of arms to New Zealand during the historic period; a trend that is expected to continue over the forecast period
4.1.3. Aircraft accounted for the majority of defense imports during 2014-2018
4.2. Export Market Dynamics
4.2.1. New Zealand does not export a large volume of arms due to its under-developed domestic industry
4.2.2. Peru was the leading market for New Zealand defense exports during the historic period
4.2.3. Aircraft accounted for the majority of defense exports during 2014-2018

5. Industry Dynamics
5.1. Market Regulation
5.1.1. New Zealand does not have a defense offset policy and is unlikely to implement one in the near future
5.1.2. New Zealand has a fair and liberal Foreign Direct Investment (FDI) policy with respect to defense
5.2. Market Entry Route
5.2.1. Budgeting process
5.2.2. Government-to-government agreements are the preferred market entry route for foreign OEMs

6. Competitive Landscape and Strategic Insights
6.1. Competitive Landscape Overview
6.1.1. Foreign suppliers manufacture defense systems overseas and deliver them to New Zealand
6.1.2. New Zealand Market Share Analysis, 2019

7. Business Environment and Country Risk
7.1. Economic Performance
7.1.1. GDP Per Capita
7.1.2. GDP, Current Prices
7.1.3. Exports of Goods and Services (LCU Million)
7.1.4. Imports of Goods and Services (LCU Billion)
7.1.5. Gross National Disposable Income (US$ Billion)
7.1.6. Local Currency Unit per US$
7.1.7. Market Capitalization of Listed Companies (US$ Billion)
7.1.8. Market Capitalization of Listed Companies (% of GDP)
7.1.9. Government Cash Surplus/Deficit as a Percentage of GDP
7.1.10. Goods Exports as a Percentage of GDP
7.1.11. Goods Imports as a Percentage of GDP
7.1.12. Services Imports as a Percentage of GDP
7.1.13. Service Exports as a Percentage of GDP
7.1.14. Foreign Direct Investment, net (BoP, current US$ Billion)
7.1.15. Net Foreign Direct Investment as a Percentage of GDP
7.1.16. Mining, Manufacturing, Utilities Output

Companies Mentioned

• IAI Elta
• Hyundai Heavy Industries
• Harris Defence Australia
• MBDA
• Pilatus Aircraft Ltd.
• Beechcraft

For more information about this report visit https://www.researchandmarkets.com/r/8gf8lp

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