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

  • April 2017
  • 109 pages
  • Strategic Defence Intelligence (SDI)
Report ID: 1516201

Summary

Table of Contents

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

Summary

Romania’s defense budget valued US$3.8 Billion in 2017, registering a compound annual growth rate (CAGR) of 22.70% during the historic period (2013-2017). The modernization of the armed forces to NATO standards, alongside participating in international peacekeeping missions, has driven Romania’s defense expenditure. With the trend expected to continue over the forecast period (2018-2022), defense expenditure will cumulatively value US$23.2 Billion during 2018-2022. Conversely, the defense budget as a percentage of GDP will rise from a historic-period average of 1.3% to 2.0% over the forecast period.

Aircraft accounted for the majority of Romania’s imports during the historic period, with Portugal being the largest supplier. The country acquired C-27J tactical transport aircraft and F-16 AM/BM Fighting Falcons. Sensors, armored vehicles, engines, and missiles were the other imports Italy, The US, Switzerland and France were the main suppliers. No significant increase in the country’s imports is anticipated over the forecast period.

Romania’s homeland security (HLS) stands at US$2.7 Billion in 2017 and is anticipated to reach US$3.4 Billion in 2022, registering a forecast-period CAGR of 4.12%. Expenditure will primarily be driven by the need to curb illegal immigration, human trafficking, cybercrime, and criminal activities. This is expected to lead to an increase in the demand for maritime security equipment and technology designed to counter security threats posed by international terrorist organizations, pirates, and cross border insurgents.

During the historic period, Romania held a defense equipment trade deficit due to its underdeveloped domestic defense industry. However, the country is anticipated to increase its defense exports over the forecast period, primarily in the area of naval vessels and related MRO.

The report “Future of the Romanian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” offers insights into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Romanian defense industry.

In particular, it offers in-depth analysis of the following -
- Provides detailed analysis of the current industry size and growth expectations during 2018-2022, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
- Detailed analysis of imports and exports, together with their implications and impact on the Romanian defense industry.
- Provides five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
- Analysis of possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
- Analysis of the defense industry’s competitive landscape, providing an overview of key defense companies, together with alliances, strategic initiatives, and financial analysis.
- Covers historical and forecast values for a range of indicators, evaluating business confidence, economic performance, infrastructure quality and availability, labor force, demographics, political and social risk.

Companies mentioned in this report: CN Romarm SA, S.C. Uzina Mecanica Cugir SA, Aerostar SA, IAR SA Brasov, Turbomecanica SA, Electromagnetica SA, Avioane Craiova SA, Elprof SA, IOR SA, Simultec SRL, Intelcan Technosystems, Inc and Airbus Helicopters Romania.

Scope

- Romania’s defense budget valued US$3.8 billion in 2017, registering a compound annual growth rate (CAGR) of 22.70% during the historic period (2013-2017). The modernization of the armed forces to NATO standards, alongside participating in international peacekeeping missions, has driven Romania’s defense expenditure. With the trend expected to continue over the forecast period (2018-2022), defense expenditure will cumulatively value US$23.2 billion during 2018-2022. Conversely, the defense budget as a percentage of GDP will rise from a historic-period average of 1.3% to 2.0% over the forecast period.
- Capital expenditure allocation, which stood at a historic-period CAGR of 27.4%, will rise to a forecast-period CAGR of 44.9% due to the procurement of multirole aircraft, multirole aircraft maintenance, repair and overhaul (MRO), and military-IT software. The government’s focus on modernization plans, which require the procurement of advanced military equipment, is expected to drive capital expenditure to post a forecast-period. Much of this will be allocated towards recruitment, training, and development programs for military personnel.
- The MoD is expected to invest in fighters and Multi-role aircraft, fighters & multi-role aircraft MRO and military-IT software.

Reasons to buy

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