“Military Leasing market set to grow to $19 bn by 2028” says new Visiongain report
30 October 2018
Visiongain has launched a new defence report Military Leasing Market 2018-2028: Global Analysis & Forecasts for Naval Vessels (Destroyers, Tankers, Offshore Patrol Vessels (OPV) & Other), Manned Aircraft (Fighters, Bombers, Logistics, Carriers, Refuelling & Other.), Ground Platforms (Combat, Transportation, Logistics, Communications Platforms & Other), Unmanned Systems (UAVs, UGVs, UMVs) & Other Markets: Opportunities for Leading Defence & Civilian Companies Providing Turnkey Solutions & Managed Services.
With the surging need for flexible defence solutions including naval vessels, manned aircrafts, unmanned systems and other systems, the defence heads in the key countries are revising their military budgets. Though the cost of procurement of these solutions are being very high, the need for these systems cannot be left unnoticed in an era of frequent political dialogues between the international leaders. The need to keep domestic defence measures at par with or above as compared to the respective neighbouring countries has made the demand for military systems even more prominent. However, the constrained military and defence budgets of several nations have urged them to look for a mid-way. The availability of these systems on lease basis provides a stop-gap solution to the defence decision makers. Besides, leasing allows governments to decrease construction, operations and maintenance spending. Also, leasing of high tech products makes use of existing private expertise rather than having to train in-house experts. The leasing of logistics and personnel transit services is an emerging and potentially lucrative military leasing area. With these opportunities, the providers of military leasing solutions have been focusing to strengthen their ties with governments and defence heads across several countries.
The visiongain report analyst commented "With the international turmoil among major countries and political groups, the demand for military products including vessels, aircrafts, unmanned systems and ground platforms will increase. In a situation when trade wars have grown strong having potential to translate themselves into weaponised wars, the nations with limited military budgets are likely to look for a more cost-effective solutions in less delivery time. This is expected to drive the military leasing market in the years to come."
Leading companies featured in the report who are offering military leasing solutions include A.P. Moller-Maersk Group, Airbus Group SE, Boeing Company, General Dynamics Corporation, Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman, Babcock International Group Plc, Chantier Davie Canada, Thales Group, Inmarsat Plc, and AirTanker
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