Future of the Belgian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

  • ID: 4480174
  • Report
  • Region: Belgium
  • 73 pages
  • Strategic Defence Intelligence
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Belgium’s Defense Budget to Increase from US$3.1 Billion in 2019 To US$3.3 Billion by 2023

FEATURED COMPANIES

  • Airbus
  • Asco Industries
  • Embraer
  • FN Herstal
  • Lockheed Martin
  • NH Industries
  • MORE

Summary

The Future of the Belgian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023, 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 Belgian 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 Belgian defense industry market size and drivers: detailed analysis of the Belgian 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 Belgian defense industry

Scope

The Belgium 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 2014 to US$3.1 billion in 2018, reflecting a CAGR of -3.00%. Over the forecast period, the country’s defense budget is expected to recover and register a CAGR of 1.15%, increasing from US$3.1 billion in 2019 to US$3.3 billion by 2023.

On a cumulative basis, expenditure over 2019-2023 is expected to be US$15.9 billion, higher than US$14.8 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 defense budget as a percentage of GDP is expected to decrease marginally from an average of 0.62% during 2014-2018 to 0.61% over the period 2019-2023.The country’s per capita defense expenditure is expected to increase from US$270.3 in 2018 to US$277.7 by 2023.

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
  • 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 Turkish defense industry covering sections including demand drivers,Key Trends and latest industry contracts
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FEATURED COMPANIES

  • Airbus
  • Asco Industries
  • Embraer
  • FN Herstal
  • Lockheed Martin
  • NH Industries
  • MORE

1. Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. About the Publisher

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Military Fleet Size
3.1.2. Procurement Programs
3.1.2.1. Ongoing procurement programs
3.1.2.2. Future procurement programs
3.1.2.3. Key Drivers and Challenges
3.2. Defense Market Size Historical and Forecast
3.2.1. Belgium defense expenditure is expected to increase at a CAGR of 1.15% over the forecast period
3.2.2. Equipment procurement plans and joint operations expected to drive defense expenditure over the forecast period
3.3. Analysis of Defense Budget Allocation
3.3.1. Belgium’s defense expenditure as a percentage of GDP expected to decrease
3.3.2. Share of capital expenditure to average 6.2% over the forecast period
3.3.3. Capital expenditure expected to increase at a CAGR of 1.72% over 2019-2023
3.3.4. Per capita defense expenditure set to decrease over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. Belgium homeland security expenditure expected to increase at a CAGR of 4.09% over the forecast period
3.4.2. Drug trafficking and cyber security are the main homeland security concerns
3.4.3. Belgium falls under “high risk” of terrorism category
3.4.4. Belgium faces high level of threat from foreign terrorist organizations
3.4.5. Belgium has a terrorism index score of 4.7
3.5. Benchmarking with Key Global Markets
3.5.1. Belgium defense budget expected to increase at a higher rate than other European countries over the forecast period
3.5.2. Belgium defense expenditure is low compared to other European nations
3.5.3. Belgium allocates a comparatively low share of GDP for defense
3.6. Market Opportunities: Key Trends and Growth Stimulators
Top 10 Defense market sectors by value (US$ Million) - Projections over the period 2018-2023

4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Defense imports are expected to recover over the forecast period
4.1.2. Belgium sourced most its arms imports from its neighbors
4.1.3. Aircraft, Naval vessels and armored vehicles dominate military hardware imports
4.2. Export Market Dynamics
4.2.1. Arms exports to increase during the forecast period
4.2.2. Belgium arms exports expected to reach new markets over the forecast period
4.2.3. Aircraft and ships are the main exported defense products

5. Industry Dynamics
5.1. Market Regulation
5.1.1. Offset policy aids development of domestic defense industry
5.1.2. Belgium permits 100% FDI in defense industry
5.2. Market Entry Route
5.2.1. Budgeting Process
5.2.2. Procurement Policy & Process
5.2.3. Joint weapons development program, a viable market entry route
5.2.4. Subsidiaries provide market entry opportunities
5.2.5. Acquisition of domestic companies enables entrance to market

6. Competitive Landscape and Strategic Insights
6.1. Competitive Landscape Overview

7. Business Environment and Country Risk
7.1. Economic Performance
7.1.1. Gross Domestic per Capita
7.1.2. Gross Domestic Product, current US$
7.1.3. Exports of Goods and Services
7.1.4. Imports of Goods and Services
7.1.5. Gross National Disposable Income
7.1.6. Local Currency Unit per US$
7.1.7. Market Capitalization of Listed Companies
7.1.8. Market Capitalization of Listed Companies as a % of GDP
7.1.9. Government Cash Surplus/Deficit as % of GDP
7.1.10. Goods Exports as a % of GDP
7.1.11. Goods Imports as a % of GDP
7.1.12. Services Imports as a % of GDP
7.1.13. Services Exports as a % of GDP
7.1.14. Foreign direct investment, net (BoP, current US$ Billion)
7.1.15. Net foreign direct investment as % of GDP
7.1.16. Mining, Manufacturing, Utilities Output

8. Appendix
8.1. About the Author
8.2. Disclaimer

List of Tables
Table 1: Belgium Army Strength
Table 2: Belgium Navy Strength
Table 3: Belgium Air Force Strength
Table 4: Belgium Ongoing Procurement Programs
Table 5: Belgium Future Procurement Programs
Table 6: Belgium Defense Expenditure (EUR Billion & US$ Billion), 2014-2023
Table 7: Belgium GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2014-2023
Table 8: Belgium Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023
Table 9: Belgium Defense Capital Expenditure (EUR Million & US$ Million), 2014-2023
Table 10: Belgium Per Capita Defense Expenditure (US$), 2014-2023
Table 11: Belgium Homeland Security Expenditure (EUR Billion & US$ Billion), 2014-2023
Table 12: Terrorism Index, 2018
Table 13: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023
Table 14: Top 10 Defense Market Sectors of Belgium by Value (US$ Million) - 2018-2023
Table 15: Offset Regulations in Belgium
Table 16: Belgium Budget Formation Timetable:
Table 17: Belgium Participation in International Defense Development Programs
Table 18: Competitive Landscape of the Belgium Defense Industry

List of Figures
Figure 1: Belgium Defense Expenditure (EUR Billion), 2014-2023
Figure 2: Belgium Defense Expenditure (US$ Billion), 2014-2023
Figure 3: Belgium GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2014-2023
Figure 4: Belgium Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023
Figure 5: Belgium Defense Capital Expenditure (EUR Million), 2014-2023
Figure 6: Belgium Defense Capital Expenditure (US$ Million), 2014-2023
Figure 7: Belgium Per Capita Defense Expenditure (US$), 2014-2023
Figure 8: Belgium Homeland Security Budget (EUR Billion),2014-2023
Figure 9: Belgium Homeland Security Budget (US$ Billion), 2014-2023
Figure 10: Terrorism Heat Map, 2018
Figure 11: Terrorism Index, 2018
Figure 12: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023
Figure 13: Benchmarking with World’s Largest and Top Regional Defense Spenders (US$ Billion), 2018 and 2023
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018
Figure 15: Belgium Defense Import Trend, 2012-2016 (TIV values in US$ Million)
Figure 16: Belgium Defense Imports by Country (%), 2012-2016
Figure 17: Belgium Defense Imports by Category (%),2012-2016
Figure 18: Belgium Defense Exports Trend (TIV Values in US$ Million), 2012-2016
Figure 19: Belgium Defense exports by Country (%), 2012-2016
Figure 20: Belgium Defense Exports by Category (%), 2012-2016
Figure 21: Belgium GDP per capita, 2015-2025
Figure 22: Belgium Gross Domestic Product (current US$ Billion), 2015-2025
Figure 23: Belgium Exports of goods and services (current LCU Billion), 2005-2014
Figure 24: Belgium Imports of goods and services (current LCU Billion), 2005-2014
Figure 25: Belgium gross national disposable income (US$ Billion), 2005-2013
Figure 26: Belgium LCU per US$, 2015-2024
Figure 27: Belgium Market Capitalization of listed Companies (US$ Billion), 2005-2012
Figure 28: Belgium Market Capitalization of listed companies as a % of GDP, 2005-2012
Figure 29: Belgium Government cash Surplus/deficit as a % of GDP, 2005-2012
Figure 30: Belgium Goods Exports as a % of GDP, 2005-2014
Figure 31: Belgium Goods Imports as a % of GDP,2005-2014
Figure 32: Belgium Services Imports as a % of GDP, 2005-2014
Figure 33: Belgium Services Exports as a % of GDP, 2005-2014
Figure 34: Belgium Foreign direct investment, net (BoP, current US$ Billion), 2005-2014
Figure 35: Belgium Net foreign direct investment as % of GDP, 2005-2014
Figure 36: Belgium Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014

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  • Airbus
  • Airbus Helicopters
  • Asco Industries
  • Cockerill Maintenance & Ingénierie SA
  • Damen Schelde Naval Shipbuilding (DSNS)
  • Dassault/Dornier
  • Embraer
  • Esterline Belgium BVBA
  • FN Herstal
  • Israel Aerospace Industries (IAI)
  • Leonardo(SIAI Marchetti)
  • Lockheed Martin
  • MOWAG/General Dynamics European Land Systems
  • Mecar SA.
  • NH Industries
  • Northrop Grumman Corp
  • SABCA Group
  • Sonaca SA
  • Teyr-Daimler-Puch Spezialfahrzeuge (SSF/General Dynamics)
  • Thales Belgium
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