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Spain Defence and Security Report 2016

  • May 2016
  • -
  • Business Monitor International
  • -
  • 37 pages

Includes 3 FREE quarterly updates

BMI View: We expect the Spanish defence budget to grow in line with gradually improving economicconditions in coming years. However, we note that funding available for new procurement remainsrestricted, as the defence ministry's debt on existing military programmes is substantial. This will also limitstate investment into sector R&D - a challenge for Spanish defence manufacturers, as they face stiffcompetition from world-class Western European suppliers. That said, Spain's defence industry boaststechnologically advanced capabilities in a variety of segments - particularly naval, aerospace andelectronics - and is becoming increasingly integrated with Western Europe, through R&D programmesunder organisations such as the EDA and OCCAR. The local sector is awarded the vast majority ofMadrid's procurement contracts; however, due to limited opportunities for domestic sales, it is becomingincreasingly export-focused.

Latest Updates

-According to the Spanish Ministry of Economy, Spanish defence exports were up 25% y-o-y in valueterms in H115 to USD1.9bn. A third of the total was exported to NATO/EU members.

-In February 2016 media reported that Spain's Navantia was set to receive a USD3.3bn contract fromSaudi Arabia for the delivery of five corvettes. In March 2015, Navantia entered a shipbuildingcollaboration agreement with Colombian COTECMAR.

-In 2015, Indra reported losses of USD610mn in the year-to-November, and announced plans to lay offup to 1,400 staff.

-An Airbus Defence & Space A400M transport aircraft crashed in Seville in May 2015 during its maidenflight due to engine-linked software issues, leading to a temporary halt in A400M flights. Production ofthe model has faced severe delays.

-Expal announced in December 2015 that it would reopen and expand an ammunition factory in Asturias,which has been closed for nine years.

Table Of Contents

Spain Defence and Security Report 2016
BMI Industry View 7
Table: Headline Defence Expenditure Forecasts (Spain 2015-2020) 7
SWOT 10
Industry Forecast 12
Defence Expenditure 12
Table: Defence Expenditure (Spain 2014-2019) 13
Table: Defence Expenditure (Spain 2020-2025) 13
Defence Trade 14
Table: Bilateral Defence Agreements 15
Industry Risk Reward Index 16
Spain Security Risk Index 16
Defence Risk/Reward Index 16
Table: Europe Security Risk Index 16
Rewards 17
Risks 18
Market Overview 19
Defence Market Overview 19
Domestic Defence Sector 19
Domestic Defence Market 22
Armed Forces Overview 23
Armed Forces 23
Table: Armed Forces Personnel (Spain 2010-2015) 24
Table: Spanish Armed Forces (FFAA) - International Deployments 26
Security Overview 27
Domestic Threats 27
Regional Threats 28
International Threats 28
Company Profile 29
Airbus Military 29
General Dynamics Santa Barbara Sistemas 31
Indra Sistemas 32
ITP 33
Navantia 34
Methodology 35
Risk/Reward Index Methodology 35
Sector-Specific Methodology 36
Table: Defence Risk/Reward Index Indicators 36
Weighting 37
Table: Weighting of Defence Risk Reward Index 37

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