Belgium’s Defense Budget Analysis (FY 2020), Competitive Landscape and Forecasts
Belgiums Defense Budget Analysis (FY 2020), Competitive Landscape and Forecasts report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
Belgiums defense budget for FY 2020 is set at US$3.3 bn, up from the previous years figure of US$2.9 bn. This trajectory is predicted to continue into the future period, as the total defense budget is set to reach a high in FY 2025 with US$3.8 bn. This increase is in line with Belgiums 2015-2030 Strategic Vision, which seeks to increase Defense expenditure as a percentage of GDP, while also focusing on investing in several main acquisition projects to modernize and augment its fleet.
The growth rate is predicted to decrease in FY 2021 to -1.3%, as Belgium attempts to recover its economy, which has been impacted significantly by the consequences of the COVID-19 pandemic.
This report offers detailed analysis of Belgiums defense market 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.
The Strategic Defense Plan looking ahead to FY2030 has sought to increase budget allocation for defense to 1.3% of the GDP (investing more in line with NATO standards), with EUR9.2 bn set to be invested in military equipment up until 2030. The acquisition share of the budget is estimated to increase in the future period, with some of the main procurement projects including the acquisition of 34 F-35A aircrafts, 6 MCM vessels and VBMR Griffon/Jaguar EBRC armored vehicles. Belgium imports witnessed a peak in 2015, with weaponry accounting for the largest category share in the historic period.
In particular, it provides an in-depth analysis of the following -
- Belgiums defense budget: detailed analysis of Belgiums FY2020 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Regulation: the procurement policy and process is explained. This is coupled with an analysis of Belgiums military doctrine and strategy to provide a comprehensive overview of Belgiums military regulation. - Security Environment: political alliances and perceived security threats to Belgium are examined; there help to explain trends in spending and modernisation.
- Import and Export Dynamics: analysis of prevalent trends in the countrys imports and exports over the last five years
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Belgian defense industry.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Belgium defense market over the next five years
- Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Belgium market and identify the opportunities offered.
- Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
- Identify the major threats that are driving the Belgium defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the Belgium government
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Military Doctrine and Strategy
Procurement Policy and Process
Primary Threat Perception
Political and Strategic Alliances
Current Acquisition Programs
Imports and Exports Market Dynamics
Market Entry Strategy
Main Defense Companies
Lockheed Martin Corp
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