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

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

Summary

"Future of the Portuguese 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 Portuguese 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 Portuguese defense industry market size and drivers: detailed analysis of the Portuguese 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 Portuguese defense industry.

Scope

- Portuguese military expenditure declined at a CAGR of -2.44% to value USD 11.5 billion cumulatively during the historic period.

- This was primarily due to the debt crisis, which has severely affected the Portuguese economy, requiring the country to adopt tough austerity measures, such as reducing wages and raising tax rates.

- However, the Portuguese government undertook anti-austerity measures between 2016 and 2017, and is planning to completely withdraw austerity reforms over the forecast period, which is expected to boost the country's economy.

Reasons to buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Portuguese 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 Portuguese defense industry covering sections including demand drivers, Key Trends , and latest industry contracts.

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Table Of Content

Scope

Table of Contents

1. Introduction 8

1.1. What is this Report About? 8

1.2. Definitions 8

1.3. Summary Methodology 10

1.4. About GlobalData 11

2. Executive Summary 12

3. Market Attractiveness and Emerging Opportunities 14

3.1. Current Market Scenario 15

3.1.1. Primary Threat Perception 15

3.1.2. Military Doctrine and Strategy 16

3.1.3. Military Fleet Size 17

3.1.4. Procurement Programs 20

3.1.5. Top Procurement Programs by Value (USD Million) 2018-2023 22

3.1.6. Social, Political and Economic Environment and Support for Defense Projects 23

3.1.7. Political and Strategic Alliances 24

3.2. Defense Market Size Historical and Forecast 25

3.2.1. Portuguese defense budget is expected to record a CAGR of 1.48% over the forecast period 25

3.2.2. International peacekeeping operations expected to drive defense expenditure over the forecast period 27

3.2.3. Portuguese defense expenditure as a percentage of GDP is expected to decline over the forecast period 28

3.3. Analysis of Defense Budget Allocation 30

3.3.1. Share of capital expenditure expected to remain constant over the forecast period 30

3.3.2. Capital expenditure is anticipated to record a CAGR of 2.71% over the forecast period 32

3.3.3. Army is expected to receive the highest allocation over the forecast period 34

3.3.4. Army expenditure is anticipated to have the major share of expenditure over the forecast period 36

3.3.5. Per capita defense expenditure is projected to increase over the forecast period 40

3.4. Homeland Security Market Size and Forecast 41

3.4.1. Portuguese homeland security budget anticipated to record a CAGR of 2.44% over the forecast period 41

3.4.2. Cyber-attacks and maritime security set to drive homeland security expenditure over the forecast period 43

3.4.3. Portugal falls under some risk of terrorism 44

3.4.4. Portugal faces little threat from terrorist organizations 45

3.4.5. Portugal has a terrorism index score of 0.0 47

3.5. Benchmarking with Key Global Markets 48

3.5.1. Portuguese defense budget expected to remain low compared to the leading spenders 48

3.5.2. Portuguese defense expenditure to remain low compared to major spenders in Europe 50

3.5.3. Portugal allocates lower share of GDP to defense compared to the US and other European countries 51

3.6. Market Opportunities: Key Trends and Growth Stimulators 52

3.6.1. Top 10 Defense Market Categories by Value (USD million)-Forecast-Period Projections 52

3.6.2. Physical Security 53

3.6.3. Land-based C4ISR 54

3.6.4. Frigates MRO 55

4. Defense Procurement Market Dynamics 56

4.1. Import Market Dynamics 58

4.1.1. Defense imports are expected to increase marginally over 2019-2023 58

4.1.2. Portugal sourced the majority of its arms imports from Denmark and Austria 59

4.1.3. Naval vessels and armored vehicles accounted for the majority of military imports 60

4.2. Export Market Dynamics 61

4.2.1. Defense exports expected to rise during the forecast period 61

4.2.2. Romania accounted for the majority of Portuguese defense exports 62

4.2.3. Aircraft are the main exported defense products 63

5. Industry Dynamics 64

5.1. Five Forces Analysis 64

5.1.1. Bargaining Power of Supplier: High to Medium 66

5.1.2. Bargaining Power of Buyer: Medium to Low 66

5.1.3. Barrier to Entry: Low to Medium 67

5.1.4. Intensity of Rivalry: Medium to High 67

5.1.5. Threat of Substitution: Medium to High 67

6. Market Entry Strategy 68

6.1. Market Regulation 68

6.1.1. Offset policy aids development of domestic defense industry and research activities 68

6.1.2. Offset policy aids development of domestic defense industry and research activities 70

6.2. Market Entry Route 71

6.2.1. Budgeting Process 71

6.2.2. Procurement Policy and Process 72

6.2.3. Setting up subsidiaries offers a market entry opportunity 72

6.2.4. Technology transfer, sub-contracts, and long-term supply contracts open new market entry strategy choices 73

6.3. Key Challenges 74

6.3.1. Domestic defense companies facing challenges from foreign companies 74

6.3.2. Budget cuts due to austerity measures challenging defense companies 74

6.3.3. Corrupt practices in the Portuguese government challenges the industry 74

7. Competitive Landscape and Strategic Insights 75

7.1. Competitive Landscape Overview 75

7.2. Key Domestic Companies 78

7.2.1. OGMA-Industria Aeronautica de Portugal SA: Overview 78

7.2.2. OGMA-Industria Aeronautica de Portugal SA: Products 78

7.2.3. OGMA-Industria Aeronautica de Portugal SA: Recent Announcements and Strategic Initiatives 79

7.2.4. OGMA-Industria Aeronautica de Portugal SA: Alliances 80

7.2.5. OGMA-Industria Aeronautica de Portugal SA: Recent Contract Wins 81

7.2.6. EID-Empresa de Investigacao e Desenvolvimento de Electronica SA: Overview 82

7.2.7. EID-Empresa de Investigacao e Desenvolvimento de Electronica SA: Products 82

7.2.8. EID-Empresa de Investigacao e Desenvolvimento de Electronica SA: Recent Announcements and Strategic Initiatives 82

7.2.9. EID-Empresa de Investigacao e Desenvolvimento de Electronica SA: Alliances 84

7.2.10. EID-Empresa de Investigacao e Desenvolvimento de Electronica SA: Recent Contract Wins 84

7.2.11. Edisoft: Overview 86

7.2.12. Edisoft: Products 86

7.2.13. Edisoft: Recent Announcements and Strategic Initiatives 86

7.2.14. Edisoft: Alliances 88

7.2.15. Edisoft: Recent Contract Wins 88

7.2.16. EMPORDEF TI Inc.: Overview 89

7.2.17. EMPORDEF TI Inc.: Products 89

7.2.18. EMPORDEF TI Inc.: Recent Announcements and Strategic Initiatives 89

7.2.19. EMPORDEF TI Inc.: Alliances 90

7.2.20. EMPORDEF TI Inc.: Recent Contract Wins 90

7.2.21. Indra Sistemas Portugal: Overview 91

7.2.22. Indra Sistemas Portugal: Products and Services 91

7.2.23. Indra Sistemas Portugal: Recent Announcements and Strategic Initiatives 91

7.2.24. Indra Sistemas Portugal: Alliances 92

7.2.25. Indra Sistemas Portugal: Recent Contract Wins 92

7.2.26. Leonardo-Societa per azioni: Overview 93

7.2.27. Leonardo-Societa per azioni: Products 93

7.2.28. Leonardo-Societa per azioni: Recent Announcements and Strategic Initiatives 94

7.2.29. Leonardo-Societa per azioni: Alliances 94

7.2.30. Leonardo-Societa per azioni: Recent Contract Wins 94

7.2.31. Arsenal Alfeite: Overview 95

7.2.32. Arsenal Alfeite: Products and Services 95

7.2.33. Arsenal Alfeite: Recent Announcements and Strategic Initiatives 95

7.2.34. Arsenal Alfeite: Recent Contract Wins 96

7.2.35. Fabrequipa: Overview 97

7.2.36. Fabrequipa: Products 97

7.2.37. Fabrequipa: Recent Announcements and Strategic Initiatives 97

7.2.38. Fabrequipa: Alliances 97

7.2.39. Fabrequipa: Recent Contract Wins 98

7.2.40. Critical Software: Overview 99

7.2.41. Critical Software: Products 99

7.2.42. Critical Software: Recent Announcements and Strategic Initiatives 100

7.2.43. Critical Software: Alliances 101

7.2.44. Critical Software: Recent Contract Wins 101

8. Business Environment and Country Risk 102

8.1. Economic Performance 102

8.1.1. Gross Domestic per Capita (USD ) 102

8.1.2. Gross Domestic Product, Current USD Billion 103

8.1.3. Exports of Goods and Services 104

8.1.4. Imports of Goods and Services 105

8.1.5. Gross National Disposable Income 106

8.1.6. Local Currency Unit per USD 107

8.1.7. Market Capitalization of Listed Companies 108

8.1.8. Market Capitalization of Listed Companies as a Percentage of GDP 109

8.1.9. Government Cash Surplus/Deficit as a Percentage of GDP 110

8.1.10. Goods Imports as a Percentage of GDP 111

8.1.11. Goods Exports as a Percentage of GDP 112

8.1.12. Services Imports as a Percentage of GDP 113

8.1.13. Services Exports as a Percentage of GDP 114

8.1.14. Net Foreign Direct Investment 115

8.1.15. Net FDI as a Percentage of GDP 116

8.1.16. Mining, Manufacturing, Utilities Output 117

9. Appendix 118

9.1. About GlobalData 118

9.2. Disclaimer 118


List Of Figure

List of Figures

Figure 1: Portuguese Defense Expenditure (EUR Billion), 2014-2023 26

Figure 2: Portuguese Defense Expenditure (USD Billion), 2014-2023 26

Figure 3: Portuguese GDP Growth and Defense Expenditure as a Percentage of GDP, 2014-2023 29

Figure 4: Portuguese Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 31

Figure 5: Portuguese Defense Capital Expenditure (EUR Million), 2014-2023 33

Figure 6: Portuguese Defense Capital Expenditure (USD Million), 2014-2023 33

Figure 7: Portuguese Defense Expenditure Split Between Army, Navy, Air Force and Others (%), 2014-2023 35

Figure 8: Portuguese Defense Expenditure in (EUR Million),-Breakdown by Services (Army, Navy, Air Force and Others), 2014-2023 37

Figure 9: Portuguese Defense Budget in USD Million-Breakdown by Services (Army, Navy, Air Force and Others), 2014-2023 39

Figure 10: Portuguese Per Capita Defense Expenditure (USD ), 2014-2023 40

Figure 11: Portuguese Homeland Security Budget (EUR Billion), 2014-2023 42

Figure 12: Portuguese Homeland Security Budget (USD Billion), 2014-2023 42

Figure 13: Terrorism Heat Map, 2018 44

Figure 14: Terrorism Index, 2018 47

Figure 15: Benchmarking with the World's Largest and Top Regional Defense Spenders (USD Billion), 2014-2018 vs 2019-2023 49

Figure 16: Defense Expenditure of the World's Largest Military Spenders (USD Billion), 2018 and 2023 50

Figure 17: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 51

Figure 18: Physical Security Market Size (USD Million), 2018-2023 53

Figure 19: Land-based C4ISR Market Size (USD Million), 2018-2023 54

Figure 20: Frigates MRO Market Size (USD Million), 2018-2023 55

Figure 21: Portugal-Defense Procurements in Terms of Supplier Relationships, 2018 57

Figure 22: Portuguese Defense Import Trend (USD Million), 2013-2017 (TIV Values) 58

Figure 23: Portuguese Defense Imports by Country (%), 2013-2017 59

Figure 24: Portuguese Defense Imports by Category (%),2013-2017 60

Figure 25: Portuguese Defense Export Trend (USD Million), 2013-2017 (TIV Values) 61

Figure 26: Portuguese Defense Exports by Country (%), 2013-2017 62

Figure 27: Portuguese Defense Exports by Category (%), 2013-2017 63

Figure 28: Industry Dynamics-Porter's Five Forces Analysis 65

Figure 29: Portuguese GDP per Capita (USD ), 2015-2025 102

Figure 30: Portuguese Gross Domestic Product (Current USD Billion), 2015-2025 103

Figure 31: Portuguese Exports of Goods and Services (LCU Billion), 2005-2014 104

Figure 32: Portuguese Imports of Goods and Services (LCU Billion), 2005-2014 105

Figure 33: Portuguese Gross National Disposable Income (USD Billion), 2005-2014 106

Figure 34: Portuguese LCU per USD , 2015-2024 107

Figure 35: Portuguese Market Capitalization of Listed Companies (USD Billion), 2005-2012 108

Figure 36: Portuguese Market Capitalization of Listed Companies as a Percentage of GDP, 2005-2012 109

Figure 37: Portuguese Government Cash Surplus/Deficit as a Percentage of GDP, 2005-2012 110

Figure 38: Portuguese Goods Imports as a Percentage of GDP, 2005-2014 111

Figure 39: Portuguese Goods Exports as a Percentage of GDP, 2005-2014 112

Figure 40: Portuguese Services Imports as a Percentage of GDP, 2005-2014 113

Figure 41: Portuguese Services Exports as a Percentage of GDP, 2005-2014 114

Figure 42: Portuguese Net Foreign Direct Investment (Current USD Billion), 2005-2014 115

Figure 43: Portuguese Net FDI as a Percentage of GDP, 2005-2014 116

Figure 44: Portuguese Mining, Manufacturing, Utilities Output (USD Billion), 2005-2014 117


List Of Table

List of Tables

Table 1: Portugal Ground Forces Strength 17

Table 2: Portugal Navy Strength 18

Table 3: Portugal Air Force Strength 19

Table 4: Portugal-Ongoing Development and Procurement Programs 20

Table 5: Portugal-Future Procurement Programs 21

Table 6: Portugal-Defense Procurement Programs by Value (USD Million), 2018-2023 22

Table 7: Portuguese Defense Expenditure (EUR Billion & USD Billion), 2014-2023 25

Table 8: Portuguese GDP Growth and Defense Expenditure as a Percentage of GDP, 2014-2023 28

Table 9: Portuguese Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 30

Table 10: Portuguese Defense Capital Expenditure (EUR Million & USD Million), 2014-2023 32

Table 11: Portuguese Defense Budget Share (%) Split by Services (Army, Navy, Air Force and Other), 2014-2023 34

Table 12: Portuguese Defense Budget Allocations in EUR Million-Breakdown by Services (Army, Navy, Air Force, and Others), 2014-2023 36

Table 13: Portuguese Defense Budget in USD Million-Breakdown by Services (Army, Navy, Air Force and Others), 2014-2023 38

Table 14: Portuguese Per Capita Defense Expenditure (USD ), 2014-2023 40

Table 15: Portuguese Defense Expenditure for Homeland Security (EUR Billion & USD Billion), 2014-2023 41

Table 16: Terrorism Index, 2018 45

Table 17: Benchmarking with Key Markets-2014-2018 vs 2019-2023 48

Table 18: Portugal-10 Leading Defense Market Categories by Value (USD Million), 2018-2023 52

Table 19: Offset Regulations in Portugal 68

Table 20: Portugal Budget Formation Timetable 71

Table 21: Portugal-Top Defense Suppliers by Value (USD Million), 2018-2023 75

Table 22: Competitive Landscape of the Portuguese Defense Industry 76

Table 23: OGMA-Industria Aeronautica de Portugal SA-Products 78

Table 24: OGMA-Industria Aeronautica de Portugal SA-Alliances 80

Table 25: OGMA-Industria Aeronautica de Portugal SA-Recent Contract Wins 81

Table 26: EID-Empresa de Investigacao e Desenvolvimento de Electronica SA-Products 82

Table 27: EID-Empresa de Investigacao e Desenvolvimento de Electronica SA-Alliances 84

Table 28: EID-Empresa de Investigacao e Desenvolvimento de Electronica SA-Contracts 84

Table 29: Edisoft-Products 86

Table 30: Edisoft-Alliances 88

Table 31: Edisoft-Recent Contract Wins 88

Table 32: EMPORDEF TI Inc.-Products 89

Table 33: EMPORDEF TI Inc.-Alliances 90

Table 34: EMPORDEF TI Inc.-Recent Contract Wins 90

Table 35: Indra Sistemas Portugal-Products and Services 91

Table 36: Indra Sistemas Portugal-Alliances 92

Table 37: Indra Sistemas Portugal-Recent Contract Wins 92

Table 38: AgustaWestland-Products 93

Table 39: AgustaWestland Portugal-Alliances 94

Table 40: AgustaWestland Portugal-Recent Contract Wins 94

Table 41: Arsenal Alfeite-Products and Services 95

Table 42: Arsenal Alfeite-Recent Contract Wins 96

Table 43: Fabrequipa-Products 97

Table 44: Fabrequipa-Alliances 97

Table 45: Fabrequipa-Recent Contract Wins 98

Table 46: Critical Software-Products 99

Table 47: Critical Software-Alliances 101

Table 48: Critical Software-Recent Contract Wins 101

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Products and Companies

Products

Defense, budget, offset, regulation, capital expenditure, homeland, key drivers and Challenges, market opportunities, procurement, entry route, announcements, alliances, contract awards, financial analysis, business environment, OGMA - Industria Aeronautica de Portugal SA, EID - Empresa de Investigacao e Desenvolvimento de Electronica SA, Edisoft, EMPORDEF TI Inc., Indra Sistemas Portugal, Leonardo, Arsenal Alfeite, Fabrequipa, Critical Software


Companies

OGMA - Industria Aeronautica de Portugal SA

EID - Empresa de Investigacao e Desenvolvimento de Electronica SA

Edisoft

EMPORDEF TI Inc.

Indra Sistemas Portugal

Leonardo

Arsenal Alfeite

Fabrequipa

Critical Software