Future of the Belgium Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022

Future of the Belgium Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022

  • May 2017 •
  • 114 pages •
  • Report ID: 4895196 •
  • Format: PDF
Future of the Belgium Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022

Summary

Belgium’s arms imports are expected to be at high levels due to procurement plans for new fighter aircraft, refueling aircraft, and military transport aircraft. Aircraft, naval vessels, armored vehicles, and sensors accounted for most defense imports. Defense companies based in neighboring European countries such as France, Germany, Switzerland, as well as the US and Portugal, have been the main arms suppliers to Belgium.

The country’s budget allocation for defense capital expenditure is expected to increase from 22.3% in 2017 to 23.2% in 2022. Capital expenditure over the forecast period is expected to increase at a CAGR of 7.65% from US$590.4 Million in 2017 to US$850.4 Million in 2022, owing to the significant uptick in procuring defense equipment to replace outdated ones.

Belgium’s revenue expenditure is expected to increase marginally from US$2.1 Billion in 2017 to US$2.8 Billion in 2022. Opportunities related to the procurement of defense equipment in Belgium are expected to be in areas such as multi-role aircraft, multi-role aircraft MRO, transport aircraft, missiles, and arms and ammunitions.

The Belgian government’s austerity measures and focus on reducing public debt have been the primary reasons for the decline in the defense budget from US$3.5 Billion in 2013 to US$2.6 Billion in 2017, reflecting a CAGR of -7.08%. Over the forecast period, the country’s defense budget is expected to recover and register a CAGR of 6.82%, increasing from US$2.8 Billion in 2018 to US$3.7 Billion by 2022.

Belgium’s homeland security (HLS) expenditure witnessed a declining CAGR of -0.07% during the historic period, from US$3.6 Billion in 2013 to US$3.5 Billion in 2017. Stimulated by the efforts to combat the rising incidences of cyber-crimes, terrorism and drug trafficking, the HLS budget is anticipated to increase over the coming years at a projected CAGR of 8.03%, from US$3.8 Billion in 2018 to US$5.2 Billion in 2022.

The report “Future of the Belgium Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” offers detailed analysis of the Belgian defense industry with market size forecasts covering the next five years.

In particular, this report provides the following analysis -
- The Belgian defense industry market size and drivers: Detailed analysis of the Belgian defense industry during 2018–2022, 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. 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: Details of the top five defense investment opportunities over the next 10 years.
- Competitive landscape and strategic insights: Analysis of the competitive landscape of the Belgian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Companies mentioned in this report: FN Herstal,Sonaca SA, Cockerill Maintenance & Ingénierie SA, SABCA Group, Esterline Belgium BVBA, Asco Industries, Mecar SA, Thales Belgium, Northrop, Grumman Corp., Airbus Helicopters.

Scope

- The Belgian government’s austerity measures and focus on reducing public debt have been the primary reasons for the decline in the defense budget from US$3.5 billion in 2013 to US$2.6 billion in 2017, reflecting a CAGR of -7.08%. Although the budget is projected to remain low over the next three years, an expected economic upturn in the second half of the decade will lead to an increase in the defense budget from 2018 onwards. On a cumulative basis, expenditure over 2018-2022 is expected to be US$16.2 billion, higher than US$15 billion spent during the historic period.Commitment towards operations with NATO allies and the continuation of ongoing military hardware procurement programs are expected to drive the country’s military expenditure.The country’s defense expenditure is expected to focus on the procurement of equipment to augment its air defense capabilities, enhancing operational capabilities of the current fleet of naval vessels, and communications and surveillance systems over the next five years.
- The Belgian Ministry of Defence (MoD) allocated an average of 22.3% to capital expenditure during 2013-2017, and is expected to increase marginally over the forecast period to reach an average of 22.9%. Opportunities related to the procurement of defense equipment in Belgium are expected to be in areas such as multi-role aircraft, multi-role aircraft MRO, transport aircraft, missiles, and arms and ammunitions.
- The MoD is expected to invest in fighters and Multi-role aircraft, fighters & multi-role aircraft MRO and transport aircraft.

Reasons to buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Belgian 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
- Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the Belgian defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts
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