Future of the Romanian Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2022

Press Release

The Future of the Romania Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2022, published by Strategic Defence Intelligence, 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 Romanian 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 Romanian defense industry market size and drivers: detailed analysis of the Romanian defense industry during 2018-2022, 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. It also details the key challenges faced by defense market participants within the country
– Porter’s Five Force analysis of the Romanian defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
– Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
– Market opportunities: details of the top five defense investment opportunities over the next 10 years
– Competitive landscape and strategic insights: analysis of the competitive landscape of the Romanian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

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– Romania’s defense budget valued US$3.8 billion in 2017, registering a compound annual growth rate (CAGR) of 22.70% during the historic period (2013-2017). The modernization of the armed forces to NATO standards, alongside participating in international peacekeeping missions, has driven Romania’s defense expenditure. With the trend expected to continue over the forecast period (2018-2022), defense expenditure will cumulatively value US$23.2 billion during 2018-2022. Conversely, the defense budget as a percentage of GDP will rise from a historic-period average of 1.3% to 2.0% over the forecast period.
– Capital expenditure allocation, which stood at a historic-period CAGR of 27.4%, will rise to a forecast-period CAGR of 44.9% due to the procurement of multirole aircraft, multirole aircraft maintenance, repair and overhaul (MRO), and military-IT software. The government’s focus on modernization plans, which require the procurement of advanced military equipment, is expected to drive capital expenditure to post a forecast-period. Much of this will be allocated towards recruitment, training, and development programs for military personnel.
– The MoD is expected to invest in fighters and Multi-role aircraft, fighters & multi-role aircraft MRO and military-IT software.

Reasons to buy
– This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Romanian 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
– Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
– A deep qualitative analysis of the Romanian defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

Companies mentioned
CN Romarm SA
S.C. Uzina Mecanica Cugir SA
Aerostar SA
IAR SA Brasov
Turbomecanica SA
Electromagnetica SA
Avioane Craiova SA
Elprof SA
Simultec SRL
Intelcan Technosystems, Inc
Airbus Helicopters Romania

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Table of Contents

1. Introduction 9
1.1. What is this Report About? 9
1.2. Definitions 9
1.3. Summary Methodology 12
1.4. About Strategic Defence Intelligence 13

2. Executive Summary 14

3. Market Attractiveness and Emerging Opportunities 15
3.1. Current Market Conditions 16
3.1.1. Primary threat perception 16
3.1.2. Military doctrine and strategy 18
3.1.3. Military fleet size 21
3.1.4. Procurement programs 24 Ongoing procurement programs 24 Future procurement programs 25
3.1.5. Social, political and economic environment and support for defense projects 26
3.1.6. Political and strategic alliances 27
3.2. Defense Market Size Historical and Forecast 28
3.2.1. Romanian defense expenditure to register a forecast-period CAGR of 16.89% 28
3.2.2. Modernization to meet NATO standards and participation in peacekeeping missions 30
3.3. Analysis of Defense Budget Allocation 31
3.3.1. Defense expenditure as a percentage of GDP to increase over the forecast period 31
3.3.2. Capital expenditure allocation expected to increase over the forecast period 33
3.3.3. Capital expenditure expected to grow at a CAGR of 38.41% over the forecast period 35
3.3.4. Per capita defense expenditure forecast to rise over the forecast period 37
3.4. Homeland Security Market Size and Forecast 38
3.4.1. Homeland security budget projected to grow steadily over the forecast period 38
3.4.2. Border control measures and cybercrime to drive homeland security budget 40
3.4.3. The nation is at low risk of terrorism 41
3.4.4. Romania faces low-level threat from foreign terrorist organizations 42
3.4.5. Romania has a terrorism index score of zero 44
3.5. Benchmarking with Key Global Markets 45
3.5.1. Romania’s defense budget to post a forecast-period CAGR of 16.89% 45
3.5.2. Romanian defense expenditure to remain low compared to other leading spenders 47
3.5.3. Romania allocates a lower percentage of GDP to defense than other NATO members 48
3.6. Market Opportunities: Key Trends and Growth Stimulators 49
3.6.1. Fighters and multirole aircraft: 49
3.6.2. Multirole Aircraft MRO 50
3.6.3. Military IT software: 51

4. Defense Procurement Market Dynamics 53
4.1. Import Market Dynamics 54
4.1.1. Defense imports registered a decline during 2012-2016 54
4.1.2. Romanian defense sourced the majority of its arms from the US 55
4.1.3. Aircraft and sensors accounted for the majority of arms imports during 2012-2016 56
4.2. Export Market Dynamics 57
4.2.1. Defense exports anticipated to grow over the forecast period 57
4.2.2. Romania supplies all of its defense equipment to the Netherlands 58
4.2.3. Naval Vessels are the most exported defense goods 58

5. Industry Dynamics 59
5.1. Five Forces Analysis 59
5.1.1. Bargaining power of suppliers: low to medium 60
5.1.2. Bargaining power of buyers: high 60
5.1.3. Barriers to entry: medium 60
5.1.4. Intensity of rivalry: medium to high 60
5.1.5. Threat of substitutes: medium to high 60

6. Market Entry Strategy 61
6.1. Market Regulation 61
6.1.1. Offset policy mandates that suppliers must invest 80% of the contract’s value into Romania’s economy 61
6.1.2. Romania allows 100% FDI in defense industry 62
6.2. Market Entry Route 63
6.2.1. Budgeting process 63
6.2.2. Procurement policy and process 65
6.2.3. Foreign OEMs enter the market through the acquisition of domestic defense companies 66
6.2.4. EDA promotes defense procurements within the EU 67
6.3. Key Challenges 68
6.3.1. Corruption and inadequate legal infrastructure 68

7. Competitive Landscape and Strategic Insights 69
7.1. Competitive Landscape Overview 69
7.2. Key Domestic Companies 69
7.2.1. CN Romarm SA: overview 69
7.2.2. CN Romarm SA: products 69
7.2.3. CN Romarm SA: recent announcements and strategic initiatives 71
7.2.4. CN Romarm SA: alliances 71
7.2.5. CN Romarm SA.: recent contract wins 71
7.2.6. S.C. Uzina Mecanica Cugir SA: overview 72
7.2.7. S.C. UZINA MECANICA CUGIR SA: products 72
7.2.8. S.C. Uzina Mecanica Cugir SA: recent announcements and strategic initiatives 73
7.2.9. Aerostar SA: overview 74
7.2.10. Aerostar SA: products 74
7.2.11. Aerostar SA: recent announcements and strategic initiatives 75
7.2.12. Aerostar SA: alliances 75
7.2.13. Aerostar SA: recent contract wins 75
7.2.14. IAR SA Brasov: overview 76
7.2.15. IAR SA Brasov: products and services 76
7.2.16. IAR SA Brasov: recent announcements and strategic initiatives 76
7.2.17. IAR SA Brasov: recent contract wins 77
7.2.18. Turbomecanica SA: overview 78
7.2.19. Turbomecanica SA: products 78
7.2.20. Turbomecanica SA: recent announcements and strategic initiatives 79
7.2.21. Electromagnetica SA: overview 80
7.2.22. Electromagnetica SA: products 80
7.2.23. Electromagnetica SA: recent contracts and strategic initiatives 80
7.2.24. Avioane Craiova SA: overview 81
7.2.25. Avioane Craiova SA (SAIC): products 81
7.2.26. Avioane Craiova SA: recent contracts and strategic initiatives 81
7.2.27. Avioane Craiova SA: alliances 82
7.2.28. Avioane Craiova SA: recent contract wins 82
7.2.29. Elprof SA: overview 83
7.2.30. Elprof SA: products 83
7.2.31. Elprof SA: recent announcements and strategic initiatives 83
7.2.32. Elprof SA: recent contract wins 84
7.3. Domestic Private Companies 85
7.3.1. IOR SA: overview 85
7.3.2. IOR SA: products and services 85
7.3.3. IOR SA: recent announcements and strategic initiatives 86
7.3.4. Simultec SRL: overview 87
7.3.5. Simultec SRL: products 87
7.3.6. Simultec SRL: recent contracts and strategic initiatives 88
7.3.7. Simultec SRL: recent contract wins 88
7.3.8. Intelcan Technosystems, Inc.: overview 89
7.3.9. Intelcan Technosystems, Inc.: products 89
7.3.10. Intelcan Technosystems, Inc.: recent announcements and strategic initiatives 90
7.3.11. Intelcan Technosystems Inc.: recent contracts 90
7.3.12. Airbus Helicopters Romania: overview 91
7.3.13. Airbus Helicopters Romania: products and services 91
7.3.14. Airbus Helicopters Romania: recent announcements and strategic initiatives 92
7.3.15. Airbus Helicopters Romania: recent contract wins 92

8. Business Environment and Country Risk 93
8.1. Economic Performance 93
8.1.1. GDP per capita 93
8.1.2. GDP at current prices 94
8.1.3. Exports of goods and services 95
8.1.4. Imports of Goods and Services 96
8.1.5. Gross national disposable income 97
8.1.6. Local currency unit per US$ 98
8.1.7. Market capitalization of listed companies 99
8.1.8. Market Capitalization of Listed Companies 100
8.1.9. Government Cash Surplus and Deficit 101
8.1.10. Goods exports 102
8.1.11. Goods imports 103
8.1.12. Service imports 104
8.1.13. Service exports 105
8.1.14. Net FDI 106
8.1.15. Net FDI 107
8.1.16. Mining, manufacturing, utilities output 108

9. Appendix 109
9.1. About SDI 109
9.2. Disclaimer 109

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