DUBLIN--(BUSINESS WIRE)--Jun 8, 2018--The "Future of the Belgian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

This report offers detailed analysis of the Belgian 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.

The Belgium government's austerity measures and focus on reducing public debt have been the primary reasons for the decline in the defense budget from US$3.5 billion in 2014 to US$3.1 billion in 2018, reflecting a CAGR of -3.00%. Over the forecast period, the country's defense budget is expected to recover and register a CAGR of 1.15%, increasing from US$3.1 billion in 2019 to US$3.3 billion by 2023.

On a cumulative basis, expenditure over 2019-2023 is expected to be US$15.9 billion, higher than US$14.8 billion spent during the historic period. Commitment towards operations with NATO allies and the continuation of ongoing military hardware procurement programs are expected to drive the country's military expenditure.

The defense budget as a percentage of GDP is expected to decrease marginally from an average of 0.62% during 2014-2018 to 0.61% over the period 2019-2023. The country's per capita defense expenditure is expected to increase from US$270.3 in 2018 to US$277.7 by 2023.

Companies Mentioned

Airbus Airbus Helicopters Asco Industries Cockerill Maintenance & Ingnierie SA Damen Schelde Naval Shipbuilding (DSNS) Dassault/Dornier Embraer Esterline Belgium BVBA FN Herstal Israel Aerospace Industries (IAI) Leonardo(SIAI Marchetti) Lockheed Martin MOWAG/General Dynamics European Land Systems Mecar SA. NH Industries Northrop Grumman Corp SABCA Group Sonaca SA Teyr-Daimler-Puch Spezialfahrzeuge (SSF/General Dynamics) Thales Belgium

Key Topics Covered

1. Introduction

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities

4. Defense Procurement Market Dynamics

5. Industry Dynamics

6. Competitive Landscape and Strategic Insights

7. Business Environment and Country Risk

For more information about this report visit https://www.researchandmarkets.com/research/xz73bw/future_of_the?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180608005607/en/

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Related Topics:Military Aerospace and Defense

KEYWORD: BELGIUM EUROPE

INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 06/08/2018 01:35 PM/DISC: 06/08/2018 01:35 PM

http://www.businesswire.com/news/home/20180608005607/en