Summary

The Future of the Spanish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2019 published by Strategic Defence Intelligence, provides readers with a detailed analysis of both historic and forecast Spanish defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

Key Findings

- The Spanish defense industry, valued at US$8.0 billion in 2014, is anticipated to record a marginal CAGR of 1.76% over the forecast period, to reach US$8.2 billion by 2019.
- Spain's defense expenditure will be stimulated by its involvement in existing military procurement programs, security threats from terrorist organizations, and territorial disputes with Morocco.
- The country's defense budget is expected to be capped at an average of 0.51% of GDP over the forecast period.
- The Defense Ministry is expected to procure the A400M military transport aircraft, S-80 submarine program, Eurofighter typhoons, Buque de Acción Marítima (BAM) ocean-going patrol boats,Tiger helicopters, Leopard tanks and medium-to-heavy military trucks, cyber security, and UAVs.

Synopsis

This report offers detailed analysis of the Spanish 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:

- Spanish defense industry market size and drivers: detailed analysis of the Spanish defense industry during 2015-2019, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country's spending patterns 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 the army, navy, and air force. It also details the key challenges faced by the defense market participants within the country.
- Porter's Five Force analysis of the Spanish defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitutions, intensity of rivalry, and barrier 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 coming 10 years.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Spanish defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Reasons To Buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Spanish 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 Spanish defense industry covering sections including demand drivers, Porter's Five Force Analysis, Key Trends and Growth Stimulators, and latest industry contracts.

Table Of Contents

Table of Contents
1 Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size - Historical and Forecast
3.1.1. Spanish defense budget is expected to grow at an estimated CAGR of 1.76% during 2015-2019
3.1.2. Territorial dispute with Morocco, security threats posed by terrorist organizations, and large equipment procurement programs will drive defense expenditure during the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Revenue expenditure accounts for the largest percentage share
3.2.2. Defense expenditure as a percentage of GDP is expected to reach 0.50% in 2019
3.2.3. Per capita defense expenditure set to increase over the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security expenditure is expected to register a CAGR of 1.33% over the forecast period
3.3.2. Border security and Drug Trafficking will drive homeland security expenditure in Spain
3.3.3. Spain is “some risk” by terrorism
3.3.4. Spain has a terrorism index score of 0.4
3.4. Benchmarking with Key Global Markets
3.4.1. Spanish defense expenditure expected to increase marginally over the forecast period
3.4.2. The country’s defense budget is moderate compared to other leading spenders
3.4.3. Spanish defense expenditure as a percentage of GDP is expected to decrease over the forecast period
3.4.4. Spain faces moderate terror threat
3.5. Market Opportunities: Key Trends and Drivers
3.5.1. Fighters and Multi-Role Aircraft
3.5.2. Transport and Utility Aircraft
3.5.3. SSK-Diesel Electric Submarine
3.5.4. Cyber Security
4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Spanish defense imports are expected to grow moderately during the forecast period
4.1.2. Germany emerged as a significant arms supplier to Spain
4.1.3. Aircraft and Armored vehicles dominate military hardware imports
4.2. Export Market Dynamics
4.2.1. Spain ranked seventh among the countries with the highest volume of defense exports
4.2.2. Norway accounted for the largest percentage share of Spanish defense exports
4.2.3. Aircraft and Ships are the main exported defense products
5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low
5.1.2. Bargaining power of buyer: medium
5.1.3. Barrier to entry: medium
5.1.4. Intensity of rivalry: high
5.1.5. Threat of substitution: high
6 Market Entry Strategy
6.1. Market Regulation
6.1.1. Offset policy mandates suppliers to invest 100% of the contract value into the Spanish economy
6.1.2. FDI in defense subject to approval
6.1.3. Unified Procurement Policy
6.2. Market Entry Route
6.2.1. Foreign OEMs venture into the market by partnering with domestic defense firms
6.2.2. Joint RandD provides an attractive entry route to foreign OEMs
6.2.3. Collaborations provide market entry opportunities
6.3. Key Challenges
6.3.1. Defense budget cuts discourage investors from entering the industry
6.3.2. Project delays deter defense industry growth
7 Competitive landscape and Strategic Insights
7.1. Competitive landscape Overview
7.2. Key Foreign Companies
7.2.1. Thales: overview
7.2.2. Thales: Defense Products
7.2.3. Thales: recent announcements and strategic initiatives
7.2.4. Thales: alliances
7.2.5. Thales: recent contract wins
7.2.6. Iveco: overview
7.2.7. Iveco: defense products
7.2.8. Iveco: recent announcements and strategic initiatives
7.2.9. Iveco: alliances
7.2.10. Iveco: recent contract wins
7.3. Key Public Sector Companies
7.3.1. Navantia: overview
7.3.2. Navantia: defense products
7.3.3. Navantia: recent announcements and strategic initiatives
7.3.4. Navantia: alliances
7.3.5. Navantia: recent contract wins
7.4. Key Private Sector Companies
7.4.1. General Dynamics European Land Systems (GDELS): overview
7.4.2. General Dynamics European Land Systems (GDELS): defense products
7.4.3. General Dynamics European Land Systems (GDELS): recent announcements and strategic initiatives
7.4.4. General Dynamics European Land Systems (GDELS): alliances
7.4.5. General Dynamics European Land Systems (GDELS): recent contract wins
7.4.6. Aernnova Aerospace S.A.: overview
7.4.7. Aernnova Aerospace S.A.: defense products
7.4.8. Aernnova Aerospace S.A.: recent announcements and strategic initiatives
7.4.9. Aernnova Aerospace S.A.: recent contract wins
7.4.10. Aernnova Aerospace S.A.: financial analysis
7.4.11. Aries Ingenieria Y Sistemas, S.A.: overview
7.4.12. Aries Ingenieria Y Sistemas, S.A.: defense products
7.4.13. Aries Ingenieria Y Sistemas, S.A.: recent announcements and strategic initiatives
7.4.14. Aries Ingenieria Y Sistemas, S.A: alliances
7.4.15. Indra Sistemas S.A.: overview
7.4.16. Indra Sistemas SA: defense products
7.4.17. Indra Sistemas S.A.: recent announcements and strategic initiatives
7.4.18. Indra Sistemas S.A.: alliances
7.4.19. Indra Sistemas S.A.: recent contract wins
7.4.20. Indra Sistemas S.A.: financial analysis
7.4.21. Sociedad Anonima De Electrónica Submarina, S.A.: overview
7.4.22. Sociedad AnonimaDe Electrónica Submarina, S.A.: defense products
7.4.23. Sociedad Anonima De Electrónica Submarina, S.A.: recent announcements and strategic initiatives
7.4.24. SociedadAnonima De Electrónica Submarina, S.A.: alliances
7.4.25. Sociedad Anonima De Electrónica Submarina, S.A.: recent contract wins
7.4.26. Tecnobit: overview
7.4.27. Tecnobit: defense products
7.4.28. Tecnobit: recent announcements and strategic initiatives
7.4.29. Tecnobit: alliances
7.4.30. Tecnobit: recent contract wins
7.4.31. Tecnobit: financial analysis
7.4.32. Uro Vehiculos Especiales S.A.: overview
7.4.33. Uro Vehiculos Especiales S.A.: defense products
7.4.34. Uro Vehiculos Especiales S.A.: recent announcements and strategic initiatives
7.4.35. Uro Vehiculos Especiales S.A.: recent contract wins
7.4.36. Amper: overview
7.4.37. Amper: defense products
7.4.38. Amper: recent announcements and strategic initiatives
7.4.39. Amper: alliances
7.4.40. Amper: recent contract wins
7.4.41. Amper: financial analysis
8 Business Environment and Country Risk
8.1. Demographics
8.1.1. Total Rural population
8.1.2. Total urban population
8.1.3. Number of households
8.2. Economic Performance
8.2.1. GDP per capita at constant prices
8.2.2. GDP at current prices (US$)
8.2.3. Exports of goods and services (current US$ bn)
8.2.4. Imports of goods and services (current US$ bn)
8.2.5. Gross national disposable income (US$ billion)
8.2.6. Manufacturing output (US$ bn)
8.2.7. Consumer price index
8.2.8. Wholesale price index
8.2.9. LCU per US$ (period average)
8.2.10. Market capitalization of listed companies (US$ bn)
8.2.11. Market capitalization of listed companies (% of GDP)
8.2.12. Total Government cash surplus/deficit (LCU billion)
8.2.13. Government cash surplus/deficit as a percentage of GDP (LCU)
8.2.14. Central government debt (LCU billion)
8.2.15. Central government debt as a percentage of GDP (LCU)
8.2.16. Goods exports as a percentage of GDP
8.2.17. Goods imports as a percentage of GDP
8.2.18. Services imports as a percentage of GDP
8.2.19. Service exports as a percentage of GDP
8.2.20. Services balance as a percentage of GDP
8.2.21. Foreign direct investment, net (BoP, current US$ billions)
8.2.22. International reserves, including gold (US$ billion)
8.3. Energy and utilities
8.3.1. Total Conventional Thermal Electricity Net Generation (Billion Kilowatt hours)
8.3.2. Hydroelectricity Net Generation (Billion Kilowatt hours)
8.3.3. Nuclear Electricity Net Generation (Billion Kilowatt hours)
8.3.4. Total Conventional Thermal Electricity Installed Capacity (Million Kilowatts)
8.3.5. Proved Reserves of Natural Gas (Trillion Cubic Feet)
8.3.6. Total Petroleum Consumption (Thousand Barrels Per Day)
8.3.7. Total Non-Hydro Renewable Electricity Net Generation (Billion kW)
8.4. Infrastructure Quality and Availability
8.4.1. Air transport, freight (million ton-km)
8.5. Mineral
8.5.1. Mining, Manufacturing, Utilities Output (US$ billion)
8.6. Technology
8.6.1. Research and Development expenditure (LCU Thousands)
8.6.2. Patents Granted
8.7. Telecommunication
8.7.1. Telephone lines (in mn)
8.7.2. Telephone lines Penetration Rate (per 100 people)
9 Appendix
9.1. About SDI
9.2. Disclaimer


List of Tables
Table 1: Spanish Defense Expenditure (US$ Billion), 2010-2014
Table 2: Spanish Defense Expenditure (US$ Billion), 2015-2019
Table 3: Spanish Defense Expenditure (in EUR Billion), 2010-2014
Table 4: Spanish Defense Expenditure (in EUR Billion), 2015-2019
Table 5: Spanish Defense Budget Split Between Capital and Revenue Expenditure (%), 2010-2014
Table 6: Spanish Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2019
Table 7: Spanish GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2010-2014
Table 8: Spanish GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2015-2019
Table 9: Spanish per capita defense expenditure (US$), 2010-2014
Table 10: Spanish per capita defense expenditure (US$), 2015-2019
Table 11: Spanish Homeland Security Budget (US$ billion), 2010-2014
Table 12: Spanish Homeland Security Budget (US$ billion), 2015-2019
Table 13: Spanish Homeland Security Expenditure (EUR billion), 2010-2014
Table 14: Spanish Homeland Security Expenditure (EUR billion), 2015-2019
Table 15: Benchmarking with Key Markets - 2010-2014 vs. 2015-2019
Table 16: SDI Terrorism Index
Table 17: Spanish Defense Offset Regulations
Table 18: Market Entry Strategies by Key Foreign Companies
Table 19: Thales- Product Focus
Table 20: Thales: Alliances
Table 21: Thales - Recent Contracts
Table 22: Iveco- Key Products and Services
Table 23: Iveco: Alliances
Table 24: Iveco - Recent Contract Wins
Table 25: Navantia - Key Products and Services
Table 26: Navantia - Alliances
Table 27: Navantia - Recent Contract Wins
Table 28: General Dynamics European Land Systems (GDELS) - Key Products and Services
Table 29:General Dynamics European Land Systems (GDELS): - Alliances
Table 30: General Dynamics European Land Systems (GDELS): - Recent Contract Wins
Table 31: Aernnova Aerospace S.A. - Key Products and Services
Table 32: Aernnova Aerospace S.A. - Recent Contract Wins
Table 33: Aries Ingenieria Y Sistemas, S.A - Key Products and Services
Table 34: Aries Ingenieria Y Sistemas - Alliances
Table 35: Indra Sistemas SA - Key Products and Services
Table 36: Indra Sistemas S.A. - Alliances
Table 37: Indra Sistemas S.A. - Recent Contract Wins
Table 38: Sociedad Anonima De Electrónica Submarina, S.A. - Key Products and Services
Table 39: Sociedad Anonima De Electrónica Submarina, S.A. - Alliances
Table 40: Sociedad Anonima De Electrónica Submarina, S.A. - Recent Contract Wins
Table 41: Tecnobit - Key Products and Services
Table 42: Tecnobit - Alliances
Table 43: Tecnobit- Recent Contract Wins
Table 44: Uro Vehiculos Especiales S.A. - Key Products and Services
Table 45: Uro Vehiculos Especiales S.A. - Recent Contract Wins
Table 46: Amper - Key Products and Services
Table 47: Amper - Alliances
Table 48: Amper - Recent Contract Wins


List of Figures
Figure 1: Spanish Defense Expenditure (US$ Billion), 2010-2014
Figure 2: Spanish Defense Expenditure (US$ Billion), 2015-2019
Figure 3: Spanish Defense Expenditure (in EUR Billion), 2010-2014
Figure 4: Spanish Defense Expenditure (in EUR Billion), 2015-2019
Figure 5: Spanish Defense Budget Split Between Capital and Revenue Expenditure (%), 2010-2014
Figure 6: Spanish Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2019
Figure 7: Spanish GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2010-2014
Figure 8: Spanish GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2015-2019
Figure 9: Spanish per capita defense expenditure (US$), 2010-2014
Figure 10: Spanish per capita defense expenditure (US$), 2015-2019
Figure 11: Spanish Homeland Security Budget (US$ billion), 2010-2014
Figure 12: Spanish Homeland Security Budget (US$ billion), 2015-2019
Figure 13: Spanish Homeland Security Expenditure (EUR billion), 2010-2014
Figure 14: Spanish Homeland Security Expenditure (EUR billion), 2015-2019
Figure 15: SDI Terrorism Heat Map, 2014
Figure 16: SDI Terrorism Index, 2014
Figure 17: Benchmarking with Key Markets - 2010-2014 vs. 2015-2019
Figure 18: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2014 and 2019
Figure 19: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2014
Figure 20: Fighter and Multi-role Aircraft (US$ Million), 2014-2024
Figure 21: Transport and Utility Aircraft (US$ Million), 2014-2024
Figure 22: Diesel Electric Submarine (US$ Million), 2014-2024
Figure 23: Cyber Security (US$ Million), 2014-2024
Figure 24: Spanish Defense Import Trend(US$ million), 2009-2013 (TIV values)
Figure 25: Spanish Defense Imports by Country (%),2009-2013
Figure 26: Spanish Defense Imports by Category (%), 2009-2013
Figure 27: Spanish Defense Exports (US$ million), 2009-2013 (TIV values)
Figure 28: Spanish Defense Exports by Country (%), 2009-2013
Figure 29: Spanish Defense Exports by Category (%), 2009-2013
Figure 30: Industry Dynamics - Porter’s Five Forces Analysis
Figure 31: Aernnova Aerospace S.A. - Revenue Trend Analysis (EUR Million), 2008-2012
Figure 32: Aernnova Aerospace S.A. - Profit Before Tax Trend Analysis (EUR Million), 2008-2012
Figure 33: Aernnova Aerospace S.A. - Net Profit Trend Analysis (EUR Million), 2008-2012
Figure 34: Indra Sistemas S.A. - Revenue Trend Analysis (EUR Million), 2009-2013
Figure 35: Indra Sistemas S.A. - Profit Before Tax Trend Analysis (EUR Million), 2009-2013
Figure 36: Indra Sistemas S.A.- Net Profit Trend Analysis (EUR Million), 2009-2013
Figure 37: Tecnobit - Revenue Trend Analysis (EUR Million), 2007-2010
Figure 38: Tecnobit - Operating Profit Trend Analysis (EUR Million), 2007-2010
Figure 39: Tecnobit - Net Profit Trend Analysis (EUR Million), 2007-2010
Figure 40: Amper - Revenue Trend Analysis (EUR Million), 2009-2013
Figure 41: Amper - Profit Before Tax Trend Analysis (EUR Million),2009-2013
Figure 42: Amper - Net Profit Trend Analysis (EUR Million), 2009-2013
Figure 43: Spanish Rural population (In million), 2010-2019
Figure 44: Spanish Urban population (In million), 2010-2019
Figure 45: Spain- Number of Households (Million), 2008-2017
Figure 46: Spanish GDP Per Capita at Constant Prices (US$), 2008-2017
Figure 47: Spain GDP at Current Prices (US$ Billion), 2010-2019
Figure 48: Spanish Exports of goods and services (US$), 2003-2012
Figure 49: Spanish Imports of goods and services (US$), 2003-2012
Figure 50: Spanish Gross national disposable income (US$ billion), 2003-2012
Figure 51: Spanish Manufacturing output (US$ Billion), 2003-2012
Figure 52: Spanish Consumer price index, 2008-2017
Figure 53: Spanish Wholesale price index, 2003-2012
Figure 54: Spain LCU per US$, 2008-2017
Figure 55: Spanish market capitalization of listed companies (US$ billion), 2003-2012
Figure 56: Spanish market capitalization of listed companies (% of GDP), 2002-2011
Figure 57: Spanish Total Government cash surplus/deficit (LCU billion), 2002-2011
Figure 58: Spanish Government cash surplus/deficit as % of GDP (LCU), 2002-2011
Figure 59: Spanish- Central government debt (LCU billion), 2002-2011
Figure 60: Spanish Central government debt as % of GDP (LCU), 2002-2011
Figure 61: Spain- Goods exports as a % of GDP (%), 2002-2011
Figure 62: Spain- Goods imports as a % of GDP (%), 2002-2011
Figure 63: Spanish Services imports as a % of GDP (%), 2002-2011
Figure 64: Spanish Service exports as a % of GDP (%), 2002-2011
Figure 65: Spain - Services balance as a % of GDP (%), 2002-2011
Figure 66: Spain - Foreign direct investment, net (BoP, current US$ billion), 2002-2011
Figure 67: Spanish International reserves, including gold (US$ billion), 2002-2011
Figure 68: Spanish Total Conventional Thermal Electricity Net Generation (Billion Kilowatt hours), 2002-2011
Figure 69: Spanish Hydroelectricity Net Generation (Billion Kilowatt hours), 2003-2012
Figure 70: Spanish Nuclear Electricity Net Generation (Billion Kilowatt hours), 2003-2012
Figure 71: Spanish Total Conventional Thermal Electricity Installed Capacity (Million Kilowatts), 2001-2010
Figure 72: Spanish Proved Reserves of Natural Gas (Trillion Cubic Feet), 2004-2013
Figure 73: Spanish Total Petroleum Consumption (Thousand Barrels Per Day), 2003-2012
Figure 74: Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts), 2003-2012
Figure 75: Spanish Air transport, freight (million ton-km), 2002-2011
Figure 76: Spanish Mining, Manufacturing, Utilities Output (US$ billion), 2003-2012
Figure 77: Spanish Research and development expenditure (LCU thousands), 2002-2010
Figure 78: Spanish Patents Granted, 2003-2012
Figure 79: Spanish Telephone lines, 2003-2012
Figure 80: Spanish Telephone lines Penetration Rate (per 100 people), 2003-2012

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