Dallas, Texas (PRWEB) July 19, 2013
Although the trend of decline exhibited over the past five years is set to reverse, according to Strategic Defence Intelligence’s new report – Future of the Irish Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018 – it will only enjoy marginal growth to 2018. With such limited growth in the Irish defense market, the majority of defense expenditure will be accounted for by pay, allowances, and pensions; consequently, those players seeking to profit from the Irish defense market must make shrewd decisions if they are to capitalize on the opportunities available over the next five years.
Since 2007, expenditure on pay, allowances and pensions accounted for a significant majority of Irish defense expenditure – a proportion that is set to increase to 2018. Consequently, with such a significant percentage of the budget allocation being taken up by staff maintenance, the opportunities for OEMs are limited, and so those seeking to capitalize on opportunities in the Irish defense sector to 2018 must remain receptive to key trends in the market.
Cyber-crime & Ireland’s Pro-tech Environment
According to the Irish Reporting and Information Security Service Computer Emergency Response Team (IRISS-CERT), up to 10 Irish businesses come under cyber-attack per day. This high rate of cyber-attacks puts emphasis on cyber-security to improve corporate and national defense, and many firms are attracted to Ireland due to its beneficial environment for technology.
In 2012, Total Defense Internet Security Ireland Limited announced the establishment of the European Operations Hub in Dublin. Georgia Tech Research Institute (GTRI) announced a new threat analysis system – Titan – along with the development of the European threat center against cyber-attacks, most likely to be established in Ireland. The growing awareness regarding the devastating consequences of cybercrimes is expected to attract more companies and firms to the Irish market.
Light Tactical Armored Vehicles
In an effort to provide improved reliability and protection against a range of threats, including armor-piercing rifle fire and anti-tank mine detonations, the Irish DoD has taken steps to acquire armored fighting vehicles. In particular, demand for light tactical armored vehicles - which provide protection from small arms fire, shell fragments, roadside bombs, and landmines – are likely to rise over the next five years in order to protect toops engaged in peacekeeping missions.
Offshore Patrol Vessels
In order to replace naval service vessels that are near the end of their life span, the Irish government approved a contract for the purchase of new vessels in July 2010. The contract was awarded to Babcock Marine for two offshore patrol vessels (OPVs), with the option of acquiring a third. According to Strategic Defence Intelligence, this contract will provide opportunities for companies that manufacture propulsion systems, surveillance and communication equipment, artillery guns, machine guns, sensors, and fire control systems.
Modernization of Rifles & Related Equipment
Under the modernization programs of the DoD, the Irish Army is expected to upgrade its aging Steyr Aug A1 rifles, thereby extending their lifespan to 2025. The DoD has allocated an initial budget for this modernization, which is expected to take place over the next three years.
Around 6,000 rifles will get revamped under this modernization process, being fitted with Combat Optical Weapon Sight (COWS), thermal weapon sights, and grenade launcher attachments. Additionally, the government has issued plans relating to the procurement of ammunition, force penetration equipment, and chemical detectors; these plans all present opportunities in the Irish defense market.
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