Future of the Hungarian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Future of the Hungarian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

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Executive Summary

Future of the Hungarian Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2023


"Future of the Hungarian Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2023", published by GlobalData, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report offers detailed analysis of the Hungary 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-

- The Hungary defense industry market size and drivers: detailed analysis of the Hungary defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country's expenditure 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 capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country

- Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years

- Market opportunities:list of the top ten defense investment opportunities over the next 5 years

- Competitive landscape and strategic insights: analysis of the competitive landscape of the Hungary defense industry.


- The Hungarian defense budget stands at USD 1.7 billion in 2018 and registered a CAGR of 8.11% during 2014-2018.

- The ongoing modernization of the country's armed forces to meet NATO standards, along with its participation in international peacekeeping missions, drove Hungary's defense expenditure during the historic period.

Reasons to buy

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

- Profiles of the top domestic and foreign defense manufacturers . This will provide the user with a total competitive landscape of the sector

- A deep qualitative analysis of the Hungarian defense industry covering sections including demand drivers, Key Trends , and latest industry contracts.

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Ken Research
Ankur Gupta, Head Marketing & Communications


Table of Contents

1. Introduction 7

1.1. What is this Report About? 7

1.2. Definitions 7

1.3. Summary Methodology 9

1.4. About GlobalData 10

2. Executive Summary 11

3. Market Attractiveness and Emerging Opportunities 13

3.1. Current Market Scenario 14

3.1.1. Primary Threat Perception 14

3.1.2. Military Doctrine & Strategy 15

3.1.3. Military Fleet Size 16

3.1.4. Procurement Programs 18

3.1.5. Social, Political and Economic Environment and Support for Defense Projects 20

3.1.6. Political and Strategic Alliances 21

3.2. Defense Market Size Historical and Forecast 22

3.2.1. Hungarian defense budget to record a CAGR of 16.31% over the forecast period 22

3.2.2. The country's modernization efforts, to meet NATO standards, and its participation in peacekeeping missions will support defense expenditure 24

3.2.3. The defense budget as a percentage of GDP is expected to increase during the forecast period 25

3.3. Analysis of Defense Budget Allocation 27

3.3.1. Procurement of advanced equipment to drive capital expenditure allocation during the forecast period 27

3.3.2. Hungarian Defense Capital expenditure is expected to grow at a CAGR of 20.44% over the forecast period 29

3.3.3. Per capita defense expenditure expected to increase during the forecast period 31

3.4. Homeland Security Market Size and Forecast 33

3.4.1. Investment in the protection of infrastructure and cyber security are expected to drive the Hungarian homeland security market 33

3.4.2. Hungary falls under some risk category on the Terrorism Index 34

3.4.3. Hungary faces some risk by acts of terrorism 35

3.4.4. Hungary has a terrorism index score of 0.8 37

3.5. Benchmarking with Key Global Markets 38

3.5.1. Hungarian defense budget expected to register rapid growth over the period 2019-2023 38

3.5.2. Hungarian defense expenditure is relatively small when compared to the leading defense spenders 40

3.5.3. Hungary spent about 1.1% of its GDP on defense in 2018 41

3.6. Market Opportunities: Key Trends and Drivers 42

3.6.1. Top 10 Defense Sectors by Value (USD Million)-Projections over 2018-2023 42

3.6.2. Multi-role aircraft 43

3.6.3. Airborne C4ISR 44

3.6.4. Combat Aircraft Engines 45

4. Defense Procurement Market Dynamics 46

4.1. Import Market Dynamics 47

4.1.1. Limitations of the domestic defense industry to encourage arms imports 47

4.1.2. Defense imports are forecast to grow during the forecast period 48

4.1.3. Sweden continues to be the major arms supplier to Hungary 49

4.1.4. Aircraft and Missiles dominates Hungarian defense imports 50

4.2. Export Market Dynamics 51

4.2.1. Defense exports are forecast to grow during the forecast period 51

4.2.2. Hungary supplies most of its defense equipment to Ethiopia 52

4.2.3. Arms exports likely to increase over the forecast period 52

5. Industry Dynamics 53

5.1. Five Forces Analysis 53

5.1.1. Bargaining power of supplier: Low to Medium 54

5.1.2. Bargaining power of buyer: Medium to High 54

5.1.3. Barrier to entry: Medium to High 54

5.1.4. Intensity of rivalry: Medium to High 54

5.1.5. Threat of substitution: Low to Medium 54

6. Market Entry Strategy 55

6.1. Market Regulation 55

6.1.1. Offset policy mandates suppliers invest a minimum of 100% of the contract value into the Hungarian economy 55

6.1.2. Hungary allows 100% foreign direct investment with the exception of designated 'strategic' holdings in some defense-related industries. 55

6.2. Market Entry Route 56

6.2.1. Budget Process 56

6.2.2. Procurement Policy and Process 57

6.2.3. Foreign OEMs enter the market through the Government to Government deals 57

6.2.4. EDA promotes defense procurements within the EU 57

6.3. Key Challenges 58

7. Competitive Landscape and Strategic Insights 59

7.1. Competitive Landscape Overview 59

7.2. Key Domestic Companies 61

7.2.1. Danube Aircraft Company: Overview 61

7.2.2. Danube Aircraft Company: Services 61

7.2.3. Danube Aircraft Company: Recent Contract Wins 61

7.3. Key Foreign Companies 62

7.3.1. SAAB- Overview 62

7.3.2. SAAB- Major Products and Services 62

7.3.3. SAAB-recent announcements and strategic initiatives 63

7.3.4. SAAB-alliances 64

7.3.5. SAAB-recent contract wins 67

7.3.6. SAAB: Financial Analysis 67

7.3.7. MBDA- overview 69

7.3.8. MBDA-Product Focus 69

7.3.9. MBDA-recent announcements and strategic initiatives 70

7.3.10. MBDA-Alliances 73

7.3.11. MBDA: Recent Contract Wins 74

8. Business Environment and Country Risk 75

8.1. Economic Performance 75

8.1.1. GDP per Capita 75

8.1.2. Gross Domestic Product 76

8.1.3. Exports of Goods and Services (LCU Billion) 77

8.1.4. Imports of Goods and Services (LCU Billion) 78

8.1.5. Gross National Disposable Income (USD Billion) 79

8.1.6. LCU per USD (period average) 80

8.1.7. Market Capitalization of Listed Companies 81

8.1.8. Market Capitalization of listed companies as a % GDP 82

8.1.9. Foreign direct investment, net (BoP, current USD Billion) 83

8.1.10. Net foreign direct investment as % of GDP 84

8.1.11. Mining, Manufacturing, Utilities Output (LCU Billion) 85

9. Appendix 86

9.1. About GlobalData 86

9.2. Disclaimer 86

List of Figures

Figure 1: Hungarian Defense Expenditure (in HUF Billion), 2014-2023 23

Figure 2: Hungarian Defense Expenditure (USD Billion), 2014-2023 23

Figure 3: Hungarian GDP Growth vs. Defense Expenditure as Percentage of GDP, 2014-2023 26

Figure4: Hungarian Defense Expenditure Split Between Capital and Revenue Expenditure (%), 2014-2023 28

Figure 5: Hungarian Defense Capital Expenditure (HUFBillion), 2014-2023 30

Figure 6: Hungarian Defense Capital Expenditure (USD Billion), 2014-2023 30

Figure 7: Hungarian Per Capita Expenditure (USD ), 2014-2023 32

Figure 8: Terrorism Heat Map, 2018 34

Figure 9: Terrorism Index, 2018 37

Figure 10: Benchmarking with Key Markets, 2014-2018 vs. 2019-2023 39

Figure 11: Defense Expenditure of the World's Largest Military Spenders (USD Billion), 2018 and 2023 40

Figure 12: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 41

Figure 13:Multi-role AircraftMarket Size (USD Million), 2018-2023 43

Figure 14: Airborne C4ISR Market Size (USD Million), 2018-2023 44

Figure 15: Combat Aircraft Engines Market Size (USD Million), 2018-2023 45

Figure 16: Top Hungarian Defense Procurements in Terms of Their Supplier Relationships 46

Figure 17: Hungarian Defense Imports (USD million), 2013-2017 48

Figure 18: Hungarian Defense Imports by Country (%), 2013-2017 49

Figure 19: Hungarian Defense Imports by Category, 2013-2017 50

Figure 20: Hungarian Defense Exports (USD million), 2013-2017 51

Figure 21: Industry Dynamics Porter's Five Forces Analysis 53

Figure 22: SAAB-Revenue Trend Analysis (SEKBillion), 2013-2017 67

Figure 23: SAAB-Operating Profit Trend Analysis (SEKMillion), 2013-2017 68

Figure 24: SAAB-Net Profit Trend Analysis (SEKMillion), 2013-2017 68

Figure 25: Hungarian GDP Per Capita (USD ), 2015-2025 75

Figure 26: Hungarian GDP at Current Prices (USD Billion), 2015-2025 76

Figure 27: Hungarian Exports of goods and services (LCU Billion), 2005-2014 77

Figure 28: Hungarian Imports of goods and services (LCU Billion), 2005-2014 78

Figure 29: Hungarian Gross National Disposable Income (USD Billion), 2005-2013 79

Figure 30: LCU per USD (USD ), 2015-2024 80

Figure 31: HungarianMarket Capitalization of Listed Companies (USD Billion), 2005-2012 81

Figure 32: Hungarian Market Capitalization of Listed Companies (% of GDP), 2005-2012 82

Figure 33: Hungarian Net Foreign Direct Investment (BoP, Current USD Billion) 2005-2014 83

Figure 34: Hungarian Net Foreign Direct Investment as a % of GDP 2005-2014 84

Figure 35: HungarianMining, Manufacturing, Utilities Output (LCU Billion), 2005-2014 85

List of Tables

Table 1: Hungarian Army Strength 16

Table 2: Hungarian Air Force Strength 17

Table 3: Hungarian-Ongoing Development and Procurement Programs 18

Table 4: Hungarian-Future Procurement Programs 18

Table 5: The Hungarian Top Defense Procurement Programs by Value (USD Million),2018-2023 19

Table 6: Hungarian Defense Expenditure (HUF Billion& USD Billion), 2014-2023 22

Table 7: HungarianGDP Growth and Defense Expenditure as Percentage of GDP Growth, 2014-2023 25

Table 8: Hungarian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 27

Table 9: Hungarian Defense Capital Expenditure (HUF Billion & USD Million), 2014-2023 29

Table 10: Hungarian Per Capita Expenditure (USD ), 2014-2023 31

Table 11:Terrorism Index, 2018 35

Table 12:Benchmarking with Key Markets, 2014-2018 vs. 2019-2023 38

Table 13: Top HungarianDefense Sectors by Value (USD Million), 2018-2023 42

Table 14: Offset Regulations in Hungary 55

Table 15: Hungarian Budget Formation Timetable 56

Table 16: Competitive Landscape of the Hungarian Defense Industry 59

Table 17: Top Defense Suppliers in the Hungarian Defense Industry-By Value (USD Million) 2018-2023 60

Table 18: Danube Aircraft Company-Services 61

Table 19: Danube Aircraft Company.-Recent Contract Wins 61

Table 20: SAAB-Major Products and Services 62

Table 21: SAAB-Alliances 64

Table 22: SAAB-Recent Contract Wins 67

Table 23: MBDA-Product Focus 69

Table 24: MBDA-Alliances 73

Table 25: MBDA-Recent Contract Wins 74

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