Global arms corporation are rushing towards the small island state of Singapore as the country recently conveyed its intention to procure top-of-the-line military equipment. American and German hardware suppliers are flocking into Singapore as they try to take the biggest cut of the country's proposed $16.7 billion defense budget.
In February, Singapore passed its biggest defense budget in history. Allocating almost 30 percent of the government's total planned expenditure for 2019, the country's department of defense is slated to receive $16.7 billion in funding. The bulk of the funding will be allocated towards defense, security, as well as related diplomacy.
According to the data gathered by the Stockholm International Peace Research Institute, Singapore spends about 3 to 5 percent of its gross domestic product on defense. This is well above the global average. In comparison, some of the island state's neighbors in Asia only spend around 1 to 2 percent, with some spending lower.
Singapore's Defense Minister Ng Eng Hen recently told the country's Parliament that defense spending is expected to rise by 3 to 4 percent annually over the next decade. The minister highlighted the fact that the country needs to modernize its air force's outdated hardware.
Earlier this month, Mr. Ng confirmed that Singapore will order four new F-35 fighter jets from Lockheed Martin, a U.S. defense contractor. He added that Singapore may order an additional of eight more fighter jets after technical evaluation.
The country's Ministry of Defense has evaluated that the F-35 is the most suitable replacement to its fleet made entirely of aging F-16 jets. Singapore has a fleet of 60 F-16 jets which were commissioned in 1998. Military experts have concluded that the F-16 jet will be considered obsolete by 2030.
Aside from new fighter jets, Singapore will also procure new advanced submarines. A number of countries are claiming rights to the highly contested South China Sea, as such Singapore deemed it necessary to purchase these new submarines. In February, Mr. Ng visited Germany to unveil the 218SG submarine. Nicknamed "Invincible," the submarine was developed by ThyssenKrupp Marine Systems (TKMS).
The "Invincible" is a 70-meter diesel-electric submarine. While the vessel has been fully constructed, it is not yet operational. TKMS said that it is the biggest submarine the company has ever built and that it will not be sold to any country. Singapore is set to receive a further three Invincible-class submarines starting 2022.
