The Austrian Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
By: ICD Research, Published: Jun-2012
Report Code: DF0038MR
Why was the report written?
The Austrian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016 offers the reader insights into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Austrian defense industry.
What is the current market landscape and what is changing?
Austria’s defense expenditure, which registered a CAGR of -1.04% during the review period, is anticipated to record a CAGR of -2.25% during the forecast period. Military spending is expected to be driven by the procurement of new defense systems and participation in international peacekeeping missions. The country’s per-capita defense spending is also expected to decline during the forecast period. The country’s homeland security budget is expected to be driven by its efforts to counter criminal activities such as the illicit drug trade and human trafficking.
What are the key drivers behind recent market changes?
Austria’s defense expenditure is primarily driven by its peacekeeping and disaster relief operations, along with the need to acquire advanced defense equipment. Over the next five years the country is expected to invest US$4.1 billion in the acquisition of military hardware for its armed forces.
What makes this report unique and essential to read?
The Austrian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016 provides detailed analysis of the current industry size and growth expectations from 2011 to 2016, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
The report provides detailed analysis of the current industry size and growth expectations from 2011 to 2016, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of
Reasons to Buy
- The Austrian economy has just begun to recover from the 2008 recession with a growth rate of 6.3% in 2011. The pace of recovery is, however, expected to be slow. To counter the mounting deficit and increasing public debt, the government is cutting back spending, including defense. This is expected to adversely affect military procurement expenditure over the next five years, and the domestic industry, which is mostly dependent on government procurement, will be severely affected.
- The recession, combined with decreasing threat levels from external sources, has made the Austrian government refocus its defense procurement strategy. In December 2010, it announced a massive sell-off plan of its heavy equipment armory, and according to the country’s Defense Ministry, this is a direct consequence of the peace efforts propagated by the European Union (EU) region bordering Austria.