Future of the Portuguese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

Future of the Portuguese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

  • April 2019 •
  • 120 pages •
  • Report ID: 5699465 •
  • Format: PDF
Future of the Portuguese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

Summary
The Portuguese defense budget is anticipated to value US$2.7 billion by 2024, growing at a CAGR of 2.03%. Portugal’s military expenditure, which stands at US$2.46 billion in 2019, is anticipated to grow from US$2.53 billion in 2020 to value US$2.74 billion in 2024, registering a CAGR of 2.03%, over the forecast period. The growth will primarily be fueled by the government plans to completely withdraw austerity reforms over the forecast period, which is expected to boost the country’s economy.

Military expenditure, on a cumulative basis, is anticipated to be US$13.1 billion over the forecast period, which is higher than the US$11.3 billion spent during the historic period. Portugal is an active participant in joint operations with the European Union (EU) and peacekeeping operations with NATO and the United Nations (UN), and as such, seeks higher spending in terms of its defense sector. This, along with the Military Programming Law (LPM) that the country is anticipated to undertake over the next coming years, is expected to drive Portugal’s defense expenditure over the forecast period.

Over the forecast period, the country’s capital expenditure allocation is expected to average 18.6%, and revenue expenditure is expected to cap at an average of 81.4%. Capital expenditure over the forecast period is expected to increase at a CAGR of 2.04%, from US$471.1 million in 2020 to US$510.7 million in 2024. This is owing to the significant uptick in weapon procurement plans, as well as procuring defense equipment to replace outdated ones. For instance, Portugal is procuring 6 Agusta Westland AW119 Koala helicopters, 6 Viana do Castelo OPVs and one multi-role vessel, 47 4x4 Tactical Communications Vehicles, apart from procuring the country is also modernization its Black Shark Heavyweight Torpedoes, Tridente Class Attack Submarines.

The Portuguese homeland security expenditure valued US$2.5 billion in 2020 and is expected to grow at a CAGR of 2.54% to reach US$2.8 billion in 2024, over the forecast period. This expenditure is primarily driven by Portugal’s focus on enhancing its defense capabilities to counter the increasing rate of cyber-attacks and securing the country’s maritime borders. The HLS budget is anticipated to be invested in the procurement of tablets, PDAs, offshore patrol vessels, biometric systems, and other advanced technology systems to strengthen its internal security forces.

The report "Future of the Portuguese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024", offers detailed analysis of the Portuguese 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 -
- The defense industry market size and drivers: detailed analysis of the Portuguese defense industry during 2020-2024, 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
- Porter’s Five Force analysis of the Portuguese defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
- 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
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Portuguese 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: OGMA - IndústriaAeronáutica de Portugal SA, EID - Empresa de Investigação e Desenvolvimento de Electrónica SA, Edisoft, EMPORDEF TI Inc., IndraSistemas Portugal, Leonardo - Società per azioni, Arsenal Alfeite, Fabrequipa, Critical Software

Scope
- Portugal’s military expenditure, which stands at US$2.46 billion in 2019, is anticipated to grow from US$2.53 billion in 2020 to value US$2.74 billion in 2024, registering a CAGR of 2.03%, over the forecast period.
- The growth will primarily be fueled by the government plans to completely withdraw austerity reforms over the forecast period, which is expected to boost the country’s economy.

Reasons to buy
- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Portuguese 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 Portuguese 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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