Future of the Spanish Defense Industry 2018

RnRMarketResearch.com adds “Future of the Spanish Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018” new report on its database.

Synopsis

This report is the result of SDI’s extensive market and company research covering the Spanish defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.

Introduction and Landscape

Why was the report written?

The Future of the Spanish Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Spanish defense industry.

What is the current market landscape and what is changing?

Spanish defense expenditure decreased at a CAGR of -9.79% during the review period and valued US$7.58 billion in 2013. The focus of the Spanish government will be on the modernization of its armed forces, participation in peacekeeping operations, and counter terrorism activities and disputes with neighboring countries.

What are the key drivers behind recent market changes?

Territorial dispute with Morocco and security threats pose by terrorist organizations are the major drivers of the Spanish defense industry.

What makes this report unique and essential to read?

The Future of the Spanish Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.

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Key Features and Benefits

- The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.

- The report includes trend analysis of imports and exports, together with their implications and impact on the Spanish defense industry.

- The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.

- The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.

- The report helps the reader to understand the competitive landscape of the defense industry in Spain. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Key Market Issues

- In 2013, the Spanish defense budget decreased by 6.7% from that of 2011 to US$7.58 billion. While Spanish defense expenditure recorded negative growth of 9.79% during the review period, it is expected to record a CAGR of 1.95% during the forecast period. Furthermore, the share of capital expenditure in the total defense budget is also expected to decrease from an average of 14.8% during the review period to 11.9% during the forecast period. As this is expected to reduce market opportunities, investments are expected to fall, which will hinder the growth of the Spanish defense industry.

- The growth of the Spanish defense industry is additionally hindered by the project delays associated with the global financial crisis, which lead to project cancellations and rising costs. In particular, the implementation of a European defense industry has caused several project delays, as often member countries are unable to agree unanimously over issues such as specifications.

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Key Highlights

- The Spanish government encourages its domestic defense industry to collaborate with foreign defense organizations from countries such as France and Germany to enhance Spain’s technological capabilities. Furthermore, to encourage RandD within the country, the Spanish government has built technology centers with a combined workforce of over 2,000 people, including military personnel and civilians. Spain collaborated with France and Germany to undertake a risk reduction study for a joint advanced unmanned aerial vehicle (AUAV) in 2007. The fifteen-month study, awarded to EADS, was completed in 2009 and the main objective of the research was to develop a long-wing, high-altitude UAV with extended loiter time. The delivery of the first UAV is expected in 2015. Although the number of systems required by the Spanish Armed Forces has not been finalized, the country is expected to procure these defense systems during the forecast period.

- During 2008-2012, Germany emerged as the largest arms supplier to Spain, with 55% of imports, followed by the US with 24%. Percentage shares of US, Israel and France are expected to grow over the forecast period, as a result of procurement programs from these countries in areas such as armored vehicles, ammunitions, fighter aircraft, and reconnaissance helicopters.

- During 2008-2012, the sale of warships to Norway and Venezuela gave a substantial boost to Spanish defense exports, thereby making Norway the largest consumer of Spanish defense goods, with a share of 32%. The second and third largest importers of Spanish military equipment were Australia and Venezuela, accounting for 12% and 8% of total exports respectively. With the European defense industry undergoing a consolidation phase, Spain seeks to undertake joint developments with foreign defense OEM’s based in countries such as Germany and France, which will increase Spanish arms exports during the forecast period. An example of one such alliance is the joint development of France and Spain for the Scorpene submarine, which led to the successful export of 14 Scorpene submarines to Brazil, Chile, India and Malaysia. Other deal is between Navantia and the Russian agency Rosoboronexport for patrol ships.

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