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

  • ID: 4726757
  • Report
  • Region: Croatia
  • 67 pages
  • GlobalData
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Future of the Croatian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Summary

"Future of the Croatian 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 Croatian 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 Croatian defense industry market size and drivers: detailed analysis of the Croatian 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
  • Porter’s Five Force analysis of the Croatian 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 over the next 10 years
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Croatian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Scope
  • Croatian military expenditure, which stands at US$0.71 billion in 2018, registered at a CAGR of -0.41% during the historic period. There is a huge difference between the planned budget and the executed budget in 2015 due to the economic crisis the country faced. However, the country’s economy is showing some positive signs of recovery, as the 2017 budget marginally surpassed its initially planned estimates.
  • Croatia is well known for its multi-vector foreign policy, with which it manages to maintain stable relations with all of its neighbors. It is a relatively peaceful country compared to other Central European nations, which encounter frequent turbulence. Croatia is also an active participant in the NATO Partnership for Peace Program. The growth in the Croatia defense market is primarily driven by the need to modernize the country’s defense arsenal, and the Russia military aggression in Ukraine, which brought about the possibility of an armed conflict in the European region.
Reasons to Buy
  • This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Croatian 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 Croatian 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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FEATURED COMPANIES

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

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
3.1.3. Key Drivers and Challenges
3.2. Defense Market Size Historical and Forecast
3.2.1. Croatia’s annual defense expenditure to reach US$915.6 million by 2023
3.2.2. Modernization and acquisition of military equipment and counter-terrorism to drive Croatia’s defense expenditure
3.2.3. The country’s defense expenditure as a percentage of GDP is expected to average 1.4% over the forecast period
3.3. Analysis of Defense Budget Allocation
3.3.1. Capital expenditure’s share of total expenditure to increase considerably over the forecast period
3.3.2. Capital expenditure budget is expected to increase over the forecast period
3.3.3. Per capita defense expenditure expected to increase over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. Croatia’s homeland security budget is projected to increase at a CAGR of 4.30% over the forecast period
3.4.2. Organized crime forms the major component of homeland security expenditure
3.4.3. Croatia is at some risk from external and internal threats
3.4.4. Croatia faces a moderate threat from terrorist organizations
3.4.5. Croatia has a terrorism index score of 0.03
3.5. Benchmarking with Key Global Markets
3.5.1. Croatia’s defense expenditure is expected to increase at a CAGR of 5.13% over the forecast period
3.5.2. Croatia’s military expenditure is low when compared to countries with the largest defense expenditure
3.5.3. Croatia allocates a low percentage of GDP to defense
3.6. Market Opportunities: Key Trends and Growth Stimulators
3.6.1. Top 10 Defense Market Sectors by Value (US$ Million) - Projections over 2018-2023

4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. The country’s current need to modernize its armed forces will drive defense imports
4.1.2. The US was the leading supplier of arms to Croatia during the historic period; a trend that is expected to continue over the forecast period
4.1.3. Aircraft accounted for the majority of defense imports during 2010-2014
4.2. Export Market Dynamics
4.2.1. Croatia does not export arms due to its under-developed domestic arms industry

5. Industry Dynamics
5.1. Market Regulation
5.1.1. Croatia has not disclosed any offset obligations
5.1.2. Regulations regarding foreign direct investment (FDI) in the defense sector have not been disclosed by the government
5.2. Market Entry Route
5.2.1. Budgeting process
5.2.2. Government-to-government agreements are the preferred market entry route for foreign OEMs

6. Competitive Landscape and Strategic Insights
6.1. Competitive Landscape Overview
6.1.1. Foreign suppliers manufacture defense systems overseas and deliver them to Croatia

7. Business Environment and Country Risk
7.1. Economic Performance
7.1.1. GDP Per Capita
7.1.2. GDP, Current Prices
7.1.3. Exports of Goods and Services (LCU Million)
7.1.4. Imports of Goods and Services (LCU Billion)
7.1.5. Local Currency Unit per US$
7.1.6. Market Capitalization of Listed Companies (US$ Billion)
7.1.7. Market Capitalization of Listed Companies (% of GDP)
7.1.8. Goods Exports as a Percentage of GDP
7.1.9. Goods Imports as a Percentage of GDP
7.1.10. Services Imports as a Percentage of GDP
7.1.11. Service Exports as a Percentage of GDP
7.1.12. Foreign Direct Investment, net (BoP, current US$ Billion)
7.1.13. Net Foreign Direct Investment as a Percentage of GDP
7.1.14. Mining, Manufacturing, Utilities Output

8. Appendix
8.1. About
8.2. Disclaimer

List of Tables
Table 1: The Croatia Ground Forces Strength
Table 2: Croatia Air Force Strength
Table 3: Croatia Navy Strength
Table 4: Croatia - Ongoing Development and Procurement Programs (US$ Million)
Table 5: Croatia Defense Expenditure (KUNA Million and US$ Million), 2014-2023
Table 6: Croatia GDP Growth and Defense Expenditure as a Percentage of GDP Growth (%), 2014-2023
Table 7: Croatia Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023
Table 8: Croatia Defense Capital Expenditure (KUNA Million & US$ Million), 2014-2023
Table 9: Croatia Per Capita Defense Expenditure (US$), 2014-2023
Table 10: Croatia Homeland Security Expenditure (KUNA Million and US$ Million), 2014-2023
Table 11: Terrorism Index, 2018
Table 12: Benchmarking with Key Markets - 2014-2018 vs 2019-2023
Table 13: Top 10 Croatian Defense Market Sectors by Value (US$ Million), 2018-2023
Table 14: Croatia Budget Formation Timetable
Table 15: Competitive Landscape of the Croatia Defense Industry

List of Figures
Figure 1: Croatia Defense Expenditure (KUNA Billion), 2014-2023
Figure 2: Croatia Defense Expenditure (US$ Million), 2014-2023
Figure 3: Croatia GDP Growth vs Defense Expenditure as a Percentage of GDP Growth, 2013-2023
Figure 4: Croatia Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023
Figure 5: Croatia Capital Budget Expenditure (KUNA Billion), 2014-2023
Figure 6: Croatia Capital Budget Allocation (US$ million), 2014-2023
Figure 7: Croatia Per Capita Defense Expenditure (US$), 2014-2023
Figure 8: Croatia Homeland Security Budget (KUNA Billion), 2014-2023
Figure 9: Croatia Homeland Security Budget (US$ 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: Defense Expenditure of the World’s Largest Military Spenders (US$ Million), 2018 and 2023
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018
Figure 15: Croatia Defense Import Trend (US$ Million), 2013-2017 (TIV Values)
Figure 16: Croatia Defense Imports by Country (%), 2013-2017
Figure 17: Croatia Defense Imports by Category (%), 2013-2017
Figure 18: Croatia Defense Export Trend (US$ Million), 2013-2017 (TIV Values)
Figure 19: Croatia GDP Per Capita (US$), 2015-2025
Figure 20: Croatia GDP, Current Prices (US$ Billion), 2015-2025
Figure 21: Croatia Exports of Goods and Services (LCU Billion), 2005-2014
Figure 22: Croatia Imports of Goods and Services (LCU Billion), 2005-2014
Figure 23: Local Currency per US$, 2015-2024
Figure 24: Croatia Market Capitalization of Listed Companies (US$ Billion), 2005-2012
Figure 25: Croatia Market capitalization of Listed Companies (% of GDP), 2005-2012
Figure 26: Croatia Goods Exports as a Percentage of GDP, 2005-2013
Figure 27: Croatia Goods Imports as a Percentage of GDP, 2005-2013
Figure 28: Croatia Services Imports as a Percentage of GDP, 2005-2013
Figure 29: Croatia Service Exports as a Percentage of GDP, 2005-2013
Figure 30: Croatia Foreign Direct Investment, net (BoP, current US$ Billion), 2005-2013
Figure 31: Croatia Net Foreign Direct Investment as a Percentage of GDP, 2005-2013
Figure 32: Croatia Mining, Manufacturing, Utilities Output (US$ Billion), 2005-2014
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