Market Research Report
The Polish Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024
|Published by||GlobalData||Product code||914616|
|Published||Content info||143 Pages
Delivery time: 1-2 business days
|The Polish Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024|
|Published: October 21, 2019||Content info: 143 Pages||
Polish defense expenditure is projected to grow at a CAGR of 5.89% during the forecast period, with a cumulative spending of US$71.7 billion. With one of the fastest growing markets and a high-income economy, Poland aims to accelerate the modernization rate of its Armed Forces in the coming years. Poland like most of the other European countries increased its expenditure on armed forces at a CAGR of 10.82% in terms of local currency, making it one of the largest and the fastest growing defense markets in Central Europe.
Over 2015-2019, Poland's average capital expenditure allocation was 30.9% of the total defense budget, while its revenue expenditure allocation was 69.1%. The country's military hardware upgrade strategies, as outlined in the 'Modernization Plan for the Armed Forces in the Years 2015-2024' are expected to be upgraded by 2024, owing to which the average capital allocation is expected to increase to an average of 35% over the forecast period. Poland's modernization initiatives over the next 10 years are anticipated to register an increase in the demand for aircraft, helicopters, submarines, patrol crafts, coastal defense ships, missiles, radars, surveillance and unmanned aerial vehicles.
Poland's homeland security (HLS) expenditure is mainly focused on countering random acts of terrorism, foreign espionage, drug smuggling, human trafficking, organized crime, corruption and cyber-attacks. This is primarily due to the growing instances of criminal and illicit activities within the nation. The HLS expenditure, valued at US$4 billion in 2019, increased at a CAGR of 1.95% between 2015 and 2019. Over the forecast period, the budget is expected to grow at a CAGR of 2% and reach US$4.4 billion by 2024.
Poland continues to expand its arms exports to Algeria and European countries like Germany and Lithuania. Although Germany emerged as the biggest arms supplier over 2014-2018, Poland had relied largely on the US for its procurement of advanced arms and ammunitions in the past. However, the benefits of having multiple import partners have encouraged Poland to procure weaponry from other European countries as well, including Finland, Italy, Norway, Spain, Sweden, France and the UK, Ukraine, Israel and Canada among others, a trend that is expected to continue over the forecast period.
The report "The Future of the Polish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024" provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news. This report offers detailed analysis of the Poland's defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following -
Companies mentioned - BAE Systems, The Boeing Company (Boeing), Lockheed Martin Corporation (Lockheed Martin), CAE Inc, Sikorsky, Leonardo S.p.A, Polish Defense Holding (PHO), Polskie Zakrady Lotnicze Mielec (PZL Mielec), Wojskowe Zakrady Uzbrojenia SA (WZU), Huta Stalowa Wola SA (HSW), ROSOMAK S.A.