DUBLIN--(BUSINESS WIRE)--Jul 13, 2018--The "Future of the Spanish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

Spanish defense exports ranked seventh largest in the world, accounting for 2.9% of the world's deliveries. During 2013-2017, Spain enhanced its aerospace and naval sectors significantly and, as a result, aircraft and naval vessels accounted for the majority of defense exports, occupying 60.6% and 34.5%, respectively. Australia was the largest recipient, occupying 34.2% of Spanish defense exports, followed by Turkey and Saudi Arabia.

The Spanish defense industry, which values US$10.2 billion in 2018, is anticipated to grow at a CAGR of 7.09% over the forecast period to reach US$14 billion in 2023. The country was facing a fiscal debt due to its economic slowdown, which resulted in a cut in military procurements during 2015-2016. However, in 2017, Spain's defense expenditure started to recover and is anticipated to grow over the forecast period driven by the country's existing military procurement programs, security threats from terrorist organizations, and territorial disputes with Morocco. The country's defense budget is anticipated to average 0.7% of GDP over the forecast period.

The Spanish Ministry of Defence (MoD) is making an effort to modernize its armed forces and support its existing projects. Capital expenditure is expected to increase to US$2.2 billion in 2023.

Companies Mentioned

Thales Iveco Navantia General Dynamics European Land Systems Aernnova Aerospace S.A. Aries Ingenieria Y Sistemas, S.A. Indra Sistemas S.A. Sociedad Anonima De Electrnica Submarina, S.A. Tecnobit Uro Vehiculos Especiales S.A. Amper S.A.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities

4. Defense Procurement Market Dynamics

5. Industry Dynamics

6. Market Entry Strategy

7. Competitive Landscape and Strategic Insights

8. Business Environment and Country Risk

9. Appendix

For more information about this report visit https://www.researchandmarkets.com/research/trmh8f/future_of_the?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180713005103/en/

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Related Topics:Military Aerospace and Defense

KEYWORD: EUROPE SPAIN

INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 07/13/2018 05:43 AM/DISC: 07/13/2018 05:43 AM

http://www.businesswire.com/news/home/20180713005103/en