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The Peruvian Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016

Publisher Name » ICD Research
Published Date » 2012-07-12
No. Of Pages » 112

Product Synopsis

This report is the result of ICD Research / Strategic Defence Intelligences extensive market and company research covering the Peruvian defense industry. It provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.

Introduction and Landscape

Why was the report written?
The Peruvian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016 offers the reader insights into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Peruvian defense industry.

What is the current market landscape and what is changing?
During the review period the Peruvian defense budget recorded a CAGR of 13.2%. Expenditure was supported by a modernization program, participation in peacekeeping missions and measures to counter drug trafficking. In 2011 the Peruvian defense budget stood at 1.19% of GDP, and is expected to marginally increase to 1.5% of GDP by 2016. During the review period Perus capital expenditure allocation stood at 13.1% of the total defense budget, and this is expected to increase to 16.5% over the forecast period due to the governments weapons procurement plans.

What are the key drivers behind recent market changes?
Although Peru does not suffer from immediate threats of external aggression, there are several factors that require the countrys defense forces to be adequately prepared, including internal threats from the separatist group, the countrys international peacekeeping missions, and volatile relationships with its neighbors, especially Chile. The Peruvian government is looking to counter the Shining Path group by purchasing arms and training its special forces in counter-insurgency measures. Moreover, the threat from the Shining Path group, increased concern over border security, and military modernization, are expected to drive defense expenditure during the forecast period.

What makes this report unique and essential to read?
The Peruvian defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016 provides detailed analysis of the current industry size and growth expectations from 2012 to 2016, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.

Key Features and Benefits

Market Opportunity and Attractiveness.
The report provides detailed analysis of the current industry size and growth expectations from 2012 to 2016, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.

Procurement Dynamics.
The report includes trend analysis of imports and exports, together with their implications and impact on the Peruvian defense industry.

Industry Structure.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.

Market Entry Strategy.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.

Competitive Landscape and Strategic Insights.
The report helps the reader to understand the competitive landscape of the defense industry in Peru. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Key Market Issues

Small defense budget limits the market entry of foreign companies.
With a 2011 defense budget of US$2.1 billion, Peru invests a relatively small portion of its GDP towards defense in comparison with European countries such as the UK and France. Despite the country maintaining an open economy and providing a number of investment incentives, a small defense budget acts as a key challenge for foreign companies interested in entering the Peruvian defense industry.

Lack of transparency hampers the growth of the Peruvian defense industry.
The arms procurement process in Peru is not transparent, with purchases often deemed to be classified and not shared outside the concerned department. The law on contracts and acquisitions requires all state institutions, without exception, to consult the Office of the Comptroller General before making a purchase, but this rule has been violated by the MoD on many occasions. This creates further doubt among international suppliers as the defense contract bidders dont have a clear understanding of the parameters required to be fulfilled in order to secure a contract.

Limited technological capability hinders defense industry growth.
Perus defense industry comprises small companies with little specialization in weapon categories, resulting in a lack of availability of advanced defense technology in the country, which stands as an infrastructural challenge for the foreign weapon suppliers who intend to conduct business in Peru.

Key Highlights
  • Perus defense expenditure expected to register a CAGR of 10.2% during the forecast period.
  • During the review period, Peruvian defense expenditure grew at a CAGR of 13.2% and registered US$2.1 billion in 2011. The persistent threat from insurgent guerrilla organization the Shining Path group, border disputes with Chile, an arms race within the Latin American region, active participation in peacekeeping missions, and the policing of drug trafficking stimulated expenditure during the review period, and these factors are expected to support defense expenditure throughout the forecast period. Defense expenditure in Peru is anticipated to increase at a CAGR of 10.4% and reach a value of US$3.8 billion by 2016.
  • Homeland security spending is expected to increase during the forecast period.
  • In 2011, Peruvian homeland security expenditure valued US$1.9 billion, and is expected to register a CAGR of 8.13% during the forecast period to reach US$2.9 billion in 2016. HLS expenditure will be driven by drug trafficking and organized crime. In order to counter these threats, Peru is expected to invest in surveillance and intelligence technologies such as electronic identification documents and automated border crossing systems.
  • Modernization of naval and air force capabilities to provide excellent market opportunities.
  • As a result of the mostly aging naval and air defense systems that make up the countrys inventory, Peru finds it difficult to combat with the coca growers in the Amazon, and it has become imperative for Peru to modernize its current navy and air defenses to maintain operational readiness. According to the defense sources, the Peruvian Air Force is currently upgrading its 12 Mirage 2000 and 18 MIG-29 model type combat aircraft, and in addition, the MoD signed a MoU with Daewoo shipbuilding and marine engineering co., on April 2012, for the construction of new vessels, and maintenance and upgrades of Navy submarines.
Table of Content

1 Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence (www.strategicdefenceintelligence.com)

2 Executive Summary

3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size Historical and Forecast
3.1.1. Defense expenditure is projected to grow at a CAGR of XX% during the forecast period
3.1.2. Threat from the Shining Path group, modernization, border disputes, peacekeeping and an arms race with neighboring countries to drive defense expenditure in the forecast period
3.1.3. Defense budget as a percentage of GDP is expected a marginal increase during the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Revenue expenditure accounts for a majority of the Peruvian defense budget
3.2.2. Per capita defense expenditure expected to increase during the forecast period
3.2.3. Other expenditures account for the majority of the Peruvian defense budget
3.2.4. Budget allocation for the army higher than the navy and the air force
3.2.5. Defense budget allocation for the navy expected to increase
3.2.6. Defense budget allocation for the Air Force expected to be the lowest
3.2.7. Other expenses expected to decrease during the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security expenditure is expected to grow at a CAGR of XX% during the forecast period
3.3.2. Capital expenditure is expected to increase in the forecast period
3.3.3. Cocaine trafficking and organized crime to drive HLS market
3.3.4. Peru considered at 'some risk' of terrorist attack
3.3.5. Peru experienced low levels of terrorist activity during the review period
3.4. Benchmarking with Key Global Markets
3.4.1. Peru's defense budget expected to register marginal growth in the forecast period
3.4.2. Peru's military expenditure is limited compared with countries with the largest defense expenditure
3.4.3. Peru allocates a low percentage of GDP to defense
3.4.4. Peru has a moderate per-capita defense expenditure
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Increased demand for main battle tanks expected
3.5.2. The need to combat drug trafficking, illegal logging and exploitation of natural resources will drive demand for surveillance equipment
3.5.3. Threat from the Shining Path group to generate demand for precise ammunition, unmanned aerial vehicles (UAVs), assault rifles and other combat equipment
3.5.4. Modernization of naval and air force capabilities to provide excellent market opportunities

4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Limited domestic defense capabilities drives the country's defense imports
4.1.2. Defense imports expected to increase during the forecast period
4.1.3. Italy accounted for the majority of Peru's defense imports during the review period
4.1.4. Aircraft, ships and missiles are the most imported military hardware

5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low to medium
5.1.2. Bargaining power of buyer: high
5.1.3. Barriers to entry: medium
5.1.4. Intensity of rivalry: low to high
5.1.5. Threat of substitution: low to high

6 Market Entry Strategy
6.1. Market Regulation
6.1.1. Offset policy aids development of domestic defense industry
6.1.2. Peru allows 100% FDI in defense industry
6.2. Market Entry Route
6.2.1. The country's biennial defense exhibition provides an attractive entry route
6.2.2. Direct selling is the preferred market entry route for foreign OEMs
6.3. Key Challenges
6.3.1. Small defense budget and limited technological capability limits the market entry of foreign companies
6.3.2. Lack of transparency hampers the growth of the Peruvian defense industry

7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.2. Key Domestic Companies
7.2.1. Los Servicios Industriales de la Marina (SIMA): overview
7.2.2. Los Servicios Industriales de la Marina (SIMA): products and services
7.2.3. Los Servicios Industriales de la Marina (SIMA): recent announcements and strategic initiatives
7.2.4. The Army Ammunition Factory (FAME): overview
7.2.5. The Army Ammunition Factory (FAME): products and services
7.2.6. The Army Ammunition Factory (FAME): recent announcements and strategic initiatives
7.2.7. Desarrollos Industriales Casanave: overview
7.2.8. Desarrollos Industriales Casanave: products and services
7.2.9. Desarrollos Industriales Casanave: recent announcements and strategic initiatives
7.2.10. Desarrollos Industriales Casanave: alliances

8 Business Environment and Country Risk
8.1. Demographics and Social Statistics
8.1.1. Population - Female
8.1.2. Population - Male
8.2. Economic Performance
8.2.1. Construction Output, Current Prices, Local Currency
8.2.2. Construction Output, Current Prices, US Dollars
8.2.3. Current Account Balance as Percentage of GDP
8.2.4. Debt-Service Ratio
8.2.5. Deposit Interest Rate
8.2.6. Exports of goods and services, current prices
8.2.7. External debt as percentage of GDP (%)
8.2.8. Foreign Direct Investment
8.2.9. Fiscal Balance as a percentage of GDP
8.2.10. GDP at Purchasing Power Parity
8.2.11. GDP, Constant Prices (Local Currency)
8.2.12. GDP, Constant Prices (US$)
8.2.13. GDP, Current Prices (Local Currency)
8.2.14. GDP, Current Prices (US$)
8.2.15. General Government Final Consumption Expenditure
8.2.16. Gross Fixed Capital Formation, Current Prices
8.2.17. Imports of goods and services
8.2.18. Inflation, average consumer prices
8.2.19. Interest Rate (Lending)
8.2.20. Manufacturing Output, Current Prices (Local Currency Bn)
8.2.21. Manufacturing Output, Current Prices (US$ Billions)
8.2.22. Market Capitalization of Stock Exchange (US$ mn)
8.2.23. US$- Exchange Rate (Annual Average)
8.2.24. US$- Exchange Rate (EoP)
8.2.25. Wholesale Price Index
8.3. Energy and Utilities
8.3.1. Crude Oil Distillation Capacity
8.3.2. Electricity Installed Capacity
8.3.3. Fossil Fuels Proved Natural Gas Reserves
8.3.4. Fossil Fuels Proved Oil Gas Reserves
8.3.5. Hydroelectricity Installed Capacity
8.3.6. Natural Gas Consumption
8.3.7. Natural Gas Production
8.3.8. Net Conventional Thermal Electricity Generation
8.3.9. Net Geothermal, Solar, Wind, and Wood Electric Power Generation
8.3.10. Net Hydroelectric Power Generation
8.3.11. Petroleum Consumption
8.3.12. Petroleum Production
8.4. Minerals
8.4.1. Coal Consumption
8.4.2. Coal Production
8.5. Technology
8.5.1. Patents Granted
8.6. Social and Political Risk
8.6.1. Political Stability Index
8.6.2. Transparency Index

9 Appendix
9.1. Contact Us
9.2. About SDI
9.3. Disclaimer

List of Tables


Table 1: Peruvian Defense Expenditure, 2007-2011
Table 2: Peruvian Defense Expenditure, 2012-2016
Table 3: Peruvian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2007-2011
Table 4: Peruvian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2012-2016
Table 5: Peruvian Defense Budget Split Between Capital and Revenue Expenditure (%), 2007-2011
Table 6: Peruvian Defense Budget Split Between Capital and Revenue Expenditure (%), 2012-2016
Table 7: Peruvian Per Capita Defense Expenditure (US$), 2007-2011
Table 8: Peruvian Per Capita Defense Expenditure (US$), 2012-2016
Table 9: Peruvian Defense Budget Breakdown (%), 2007-2011
Table 10: Peruvian Defense Budget Breakdown (%), 2012-2016
Table 11: Peruvian Defense Budget Allocation for the Army (US$ Billion), 2007-2011
Table 12: Peruvian Defense Budget Allocation for the Army (US$ Billion), 2012-2016
Table 13: Peruvian Defense Budget Allocation for the Navy (US$ Billion), 2007-2011
Table 14: Peruvian Defense Budget Allocation for the Navy (US$ Billion), 2012-2016
Table 15: Peruvian Defense Budget Allocation for the Air Force (US$ Billion), 2007-2011
Table 16: Peruvian Defense Budget Allocation for the Air Force (US$ Billion), 2012-2016
Table 17: Peruvian Defense Budget Allocation for Other Expenditure (US$ Billion), 2007-2011
Table 18: Peruvian Defense Budget Allocation for Other Expenditure (US$ Billion), 2012-2016
Table 19: Peruvian Homeland Security Budget (US$ billion), 2007-2011
Table 20: Peruvian Homeland Security Budget (US$ billion), 2012-2016
Table 21: Peruvian Homeland Security Budget Split (%), 2007-2011
Table 22: Peruvian Homeland Security Budget Split (%), 2012-2016
Table 23: SDI Terrorism Index
Table 24: Benchmarking with Key Markets - 2007-2011 vs. 2012-2016
Table 25: Defense Offset Regulations in Peru
Table 26: Los Servicios Industriales de la Marina (SIMA) - Products and Services
Table 27: The Army Ammunition Factory (FAME)- Product Focus
Table 28: Desarrollos Industriales Casanave - Product Focus
Table 29: Desarrollos Industriales Casanave: Alliances

List of Figures


Figure 1: Peruvian Defense Expenditure, 2007-2011
Figure 2: Peruvian Defense Expenditure, 2012-2016
Figure 3: Peruvian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2007-2011
Figure 4: Peruvian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2012-2016
Figure 5: Peruvian Defense Budget Split Between Capital and Revenue Expenditure (%), 2007-2011
Figure 6: Peruvian Defense Budget Split Between Capital and Revenue Expenditure (%), 2012-2016
Figure 7: Peruvian Per Capita Defense Expenditure (US$), 2007-2011
Figure 8: Peruvian Per Capita Defense Expenditure (US$), 2012-2016
Figure 9: Peruvian Defense Budget Breakdown (%), 2007-2011
Figure 10: Peruvian Defense Budget Breakdown (%), 2012-2016
Figure 11: Peruvian Defense Budget Allocation for the Army (US$ Billion), 2007-2011
Figure 12: Peruvian Defense Budget Allocation for the Army (US$ Billion), 2012-2016
Figure 13: Peruvian Defense Budget Allocation for the Navy (US$ Billion), 2007-2011
Figure 14: Peruvian Defense Budget Allocation for the Navy (US$ Billion), 2012-2016
Figure 15: Peruvian Defense Budget Allocation for the Air Force (US$ Billion), 2007-2011
Figure 16: Peruvian Defense Budget Allocation for the Air Force (US$ Billion), 2012-2016
Figure 17: Peruvian Defense Budget Allocation for Other Expenditure (US$ Billion), 2007-2011
Figure 18: Peruvian Defense Budget Allocation for Other Expenditure (US$ Billion), 2012-2016
Figure 19: Peruvian Homeland Security Budget (US$ billion), 2007-2011
Figure 20: Peruvian Homeland Security Budget (US$ billion), 2012-2016
Figure 21: Peruvian Homeland Security Budget Split (%), 2007-2011
Figure 22: Peruvian Homeland Security Budget Split (%), 2012-2016
Figure 23: SDI Terrorism Heat Map, 2011
Figure 24: SDI Terrorism Index, 2011
Figure 25: Benchmarking with Key Markets - 2007-2011 vs. 2012-2016
Figure 26: Defense Expenditure of the World's Largest Military Spenders (US$ Billion), 2011 and 2016
Figure 27: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2011
Figure 28: Per-capita Defense Expenditure of the Largest Military Spenders in the World (US$), 2011
Figure 29: Peruvian Defense Import Trend, 2007-2011 (TIV values)
Figure 30: Peruvian Defense Imports by Country (US$ Million), 2007-2011
Figure 31: Peruvian Defense Imports by Country (%), 2007-2011 and 2011
Figure 32: Peruvian Defense Imports by Category (%), 2007-2011
Figure 33: Industry Dynamics Porter's Five Forces Analysis
Figure 34: Peruvian Population - Female (In Millions), 2008-2017
Figure 35: Peruvian Population - Male (In Millions), 2008-2017
Figure 36: Peruvian Construction Output, Current Prices, (In PEN Billions), 2001-2010
Figure 37: Peruvian Construction Output, Current Prices, US Dollars (In Billions), 2001-2010
Figure 38: Peruvian Current Account Balance as Percentage of GDP, 2008-2017
Figure 39: Peruvian Debt-Service Ratio, 2001-2010
Figure 40: Peruvian Deposit Interest Rate, 2001-2010
Figure 41: Peruvian Exports of goods and services, current prices (US$ Billion), 2001-2010
Figure 42: Peruvian External Debt as percentage of GDP (%), 2001-2010
Figure 43: Peruvian Foreign Direct Investment (US$ Billion), 2001-2010
Figure 44: Peruvian Fiscal Balance as a percentage of GDP (%), 2001-2010
Figure 45: Peruvian GDP at Purchasing Power Parity (US$ Billion), 2006-2015
Figure 46: Peruvian GDP at Constant Prices (in PEN Billion), 2006-2015
Figure 47: Peruvian GDP at Constant Prices (US$ Billion), 2006-2015
Figure 48: Peruvian GDP at Current Prices (PEN Billion), 2006-2015
Figure 49: Peruvian GDP at Current Prices (US$ Billion), 2006-2015
Figure 50: Peruvian General Government Final Consumption Expenditure (US$ Billion), 2001-2010
Figure 51: Peruvian Gross Fixed Capital Formation, Current Prices (US$ Billion), 2001-2010
Figure 52: Peruvian Imports of goods and services (current US$ Billion), 2001-2010
Figure 53: Peruvian Inflation, average consumer prices, 2008-2017
Figure 54: Peruvian Lending Interest rate, 2001-2010
Figure 55: Peruvian Manufacturing Output, Current Prices (PEN Billion), 2001-2010
Figure 56: Peruvian Manufacturing Output, Current Prices (US$ Billion), 2001-2010
Figure 57: Peruvian Market Capitalization of Stock Exchange (US$ Million), 2001-2010
Figure 58: Peruvian US$- Exchange Rate (Annual Average), 2002-2011
Figure 59: Peruvian US$- Exchange Rate (EoP), 2002-2011
Figure 60: Peruvian Wholesale Price Index, 2000-2009
Figure 61: Peruvian Crude Oil Distillation Capacity (Thousand Barrels Per Cal Day), 2000-2009
Figure 62: Peruvian Electricity Installed Capacity (Million Kilowatts), 2000-2009
Figure 63: Peruvian Fossil Fuels Proved Natural Gas Reserves (Trillion Cubic Feet), 2002-2011
Figure 64: Peruvian Fossil Fuels Proved Oil Gas Reserves (Billion Barrels), 2002-2011
Figure 65: Peruvian Hydroelectricity Installed Capacity (Million Kilowatts), 2000-2009
Figure 66: Peruvian Natural Gas Consumption (Billion Cubic Feet), 2001-2010
Figure 67: Peruvian Natural Gas Production (Billion Cubic Feet), 2001-2010
Figure 68: Peruvian Net Conventional Thermal Electricity Generation (Billion Kilowatt hours), 2001-2010
Figure 69: Peruvian Net Geothermal, Solar, Wind, and Wood Electric Power Generation (Billion Kilowatt Hours), 2001-2010
Figure 70: Peruvian Net Hydroelectric Power Generation (Billion Kilowatt hours), 2001-2009
Figure 71: Peruvian Petroleum Consumption (Thousand Barrels Per Day), 2002-2011
Figure 72: Peruvian Petroleum Production (Thousand Barrels Per Day), 2002-2011
Figure 73: Peruvian Coal Consumption (Thousand Short Tons), 2001-2010
Figure 74: Peruvian Coal Production (Thousand Short Tons), 2001-2010
Figure 75: Peruvian Patents Granted, 2002-2011
Figure 76: Peruvian Political Stability Index, 2002-2010
Figure 77: Peruvian Transparency Index, 2002-2011

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