Market Research Report
Future of the Spanish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023
|Published by||GlobalData||Product code||659291|
|Published||Content info||135 Pages
Delivery time: 1-2 business days
|Future of the Spanish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023|
|Published: June 28, 2018||Content info: 135 Pages||
Spanish defense exports ranked seventh largest in the world, accounting for 2.9% of the world's deliveries. During 2013-2017, Spain enhanced its aerospace and naval sectors significantly and, as a result, aircraft and naval vessels accounted for the majority of defense exports, occupying 60.6% and 34.5%, respectively. Australia was the largest recipient, occupying 34.2% of Spanish defense exports, followed by Turkey and Saudi Arabia.
The Spanish defense industry, which values US$10.2 billion in 2018, is anticipated to grow at a CAGR of 7.09% over the forecast period to reach US$14 billion in 2023. The country was facing a fiscal debt due to its economic slowdown, which resulted in a cut in military procurements during 2015-2016. However, in 2017, Spain's defense expenditure started to recover and is anticipated to grow over the forecast period driven by the country's existing military procurement programs, security threats from terrorist organizations, and territorial disputes with Morocco. The country's defense budget is anticipated to average 0.7% of GDP over the forecast period.
The independence referendum by Catalonia, which resulted in heightened political tensions, caused Spain to go down by 10 ranks in Global Peace Index. The forecast period is expected to witness enhanced opportunities in security systems and its related platforms.
The Spanish Ministry of Defence (MoD) is making an effort to modernize its armed forces and support its existing projects. Capital expenditure is expected to increase to US$2.2 billion in 2023. The Defense Ministry is expected to procure A400M military transport aircraft, S-80 submarines, Eurofighter typhoons, Buque de Accion Maritima (BAM) ocean-going patrol boats, Tiger helicopters, medium-to-heavy military trucks, cyber security, and UAVs.
The report "Future of the Spanish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" offers detailed analysis of the Spanish 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.
Companies Mentioned - Thales, Iveco, Navantia, General Dynamics European Land Systems (GDELS), Aernnova Aerospace S.A., Aries Ingenieria Y Sistemas, S.A., Indra Sistemas S.A., Sociedad Anonima De Electronica Submarina, S.A., Tecnobit, Uro Vehiculos Especiales S.A. and Amper S.A.
Spanish Defense Industry Market Size and Drivers: detailed analysis of the Spanish defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country's expenditure and modernization patterns
Budget Allocation and Key Challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years
Market Opportunities: list of the top ten defense investment opportunities over the next 5 years
Competitive Landscape and Strategic Insights: analysis of the competitive landscape of the Spanish defense industry.
Reasons to buy
This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Spanish defense industry market trends for the coming five years
The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
Profiles of the top domestic and foreign defense manufacturers. This will provide the user with a total competitive landscape of the sector
A deep qualitative analysis of the Spanish defense industry covering sections including demand drivers, Key Trends, and latest industry contracts