Report description overview:
The new report, now available on ASDReports, The Future of the Belgian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2019 analyzes the Belgian defense industry market size and drivers, including detailed analysis of the Belgian defense industry during 2015–2019, together with highlights of the demand drivers and growth stimulators for the industry. This report provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
The effects of the European debt crisis and widening fiscal deficit pushed the Belgian government to lower its budget for the defense sector during the last four years. Belgian defense expenditure registered a negative CAGR of 0.31% in the same four years.
Although the budget is projected to record annual decline in 2015 and 2016, an expected economic upturn in the second half of the decade will lead to an increase in the defense budget from 2017 onwards.
The defense budget is expected to grow at a CAGR of 0.12% to over US$3 billion in 2019. Primarily driven by the extension of the existing military modernization with plans and commitment towards NATO, EU, and UN peacekeeping missions.
The country’s defense expenditure is expected to focus more on the procurement of equipment to augment its air defense capabilities, enhancing operational capabilities of the current fleet of naval vessels, and communications and surveillance systems over the next five years.
Source: ASDReports - Market Research
Date: Jun 17, 2014