Future of the Sri Lankan Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2020

Date: 2015-08

“• Over the historic period, Sri Lanka’s defense expenditure registered growth of 4.07%, increasing from US$1.8 billion in 2011 to US$2.1 billion in 2015

• Sri Lanka’s military expenditure, valued at US$2.1 billion in 2015, is expected to increase to US$2.9 billion by 2020, registering a CAGR of 7.55% over the forecast period

• Sri Lankan military expenditure will be driven by the re-emergence of terrorism, de-mining and rehabilitation, and the country’s strained relationship with India

• The Defense Ministry is expected to procure patrol vessels and naval infrastructure, combat aircraft, and transport helicopters”

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