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Sri Lankan defense industry expected to reach US$ 2.6 billion by 2019

Sri Lankan defense industry expected to reach US$ 2.6 billion by 2019 Sri Lanka's defense industry, valued at US$1.8 billion in 2014, is anticipated to record a Compound Annual Growth Rate (CAGR) of 8.06% over the next five years to reach US$2.6 billion by 2019, a recently released market report said. Dublin-based market analysts, Research and Markets in its latest report on Sri Lanka defense industry "Future of the Sri Lankan Defense Industry- Market Attractiveness, Competitive Landscape and Forecasts to 2019" expects Sri Lanka to strengthen its maritime security and surveillance to counter the problems of terrorism, piracy, oil pollution spills, and illegal drug and arms trafficking. Sri Lankan homeland security expenditure stands at US$ 500 million in 2014 and is expected to grow at ...
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