This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Frost & Sullivan: ASEAN's Aerospace, Defense And Maritime Industries Set For High Growth Between 2013 To 2015

KUALA LUMPUR, Malaysia, Jan. 2, 2013 /PRNewswire/ -- The commercial aerospace, defense and maritime industries are set for high growth over the next few years in the ASEAN region. Increasing economic development, rising demand for travel and trade in the region have especially been driving the need for the region to strengthen its air and sea transport infrastructure to meet up with these demands.

HW LIMA together with knowledge partner Frost & Sullivan plans to address new market opportunities and shed insights on the future of Aerospace, Defense and Maritime Industries at the Langkawi International Maritime and Aerospace ( LIMA) Exhibition, happening in March 2013.

" LIMA has been getting a lot of enquiries from new to market companies, which we attribute to the importance of the Asian market vis-a-vis what is currently happening in Europe and the United States. We have partnered with Frost & Sullivan with the aim to continue driving growth by delivering more to our participants. Our new tag-line 'Delivering Asian Markets' encompasses our overall strategy to provide an effective and relevant platform in a region widely considered to be the world's leading growth area for aerospace and maritime," said Mr. Ahmad Dzuhri Wahab, Managing Director of HW LIMA Exhibitions.

On the commercial aviation front, the introduction of LCCs and airport developments in the region are expected to drive growth of this industry in the near future.  According to Frost & Sullivan, passenger traffic across airports in the five major ASEAN countries of Malaysia, Singapore, Indonesia, Philippines and Thailand, is expected to reach close to 318 million passengers by 2017. 

Growth of maritime is expected to be driven by increasing port development in countries such as Singapore and Malaysia in efforts to increase their traffic handling capacities.  The total sea freight traffic handled in this region is expected to reach 2.52 billion tonnes by 2017.

On the defense front, the acquisition of UAVs, armoured vehicles, ships and aircraft will drive defense procurement spending in the near future.  A lot of this increased spending is being driven by the rising geopolitical instability in the region and the need for replacement of obsolete military equipment. Defense spending in the ASEAN region is expected to grow at a CAGR of close to 10% during 2012 to 2020, reaching more than US$61 billion by 2020.

"Overall, 2012 to 2020 is expected to be a period of opening up of many growth opportunities for the aerospace, defense and maritime industries in ASEAN region in the near future.  The implementation of several governmental reforms such as the ASEAN Economic Community (AEC) and open skies agreements among ASEAN countries is expected to drive growth of these industries in the region," said Mr. Neil Dave, Consulting Analyst of Aerospace & Defense at Frost & Sullivan Asia Pacific.

The Langkawi International Maritime and Aerospace ( LIMA) Exhibition, from 26 to 30 March 2013, is fast becoming a must attend show for Asia. LIMA is a biennial event that gathers the world's leading maritime and aerospace companies in a week of high impact business and networking activities with special aerobatic and ship displays as highlights.

The exhibition will introduce a number of key new programmes, foremost being the ASEAN Aviation Best Practices Awards, The LIMA '13 Shipbuilding and Ship repair conference and the ASEAN Aviation Conference designed at boosting LIMA's global profile and increase participation.

Registration and booking of space for LIMA'13 is now open and more information on the Langkawi International Maritime and Aerospace Exhibition 2013 can be found at www.lima.com.my.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion

MEDIA CONTACT:

Carrie LowCorporate Communications – Asia PacificFrost & SullivanP: +603 6204 5910F: +603 6201 7402E: carrie.low@frost.com

Fairul RamziManager, Corporate CommunicationsHW LIMA EXHIBITIONSP: +603 4142 1699F: +603 4142 2699E: fairul@hwlima.org

SOURCE Frost & Sullivan

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,350.31 +154.89 0.90%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,624.4270 +58.2890 1.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs