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

Romania's ongoing modernization of the country's armed forces to meet NATO standards, along with its participation in international peacekeeping missions, drove Romania's defense expenditure during the historic period. With this trend expected to continue over the forecast period, the country's defense expenditure is anticipated to cumulatively value close to US$30 billion during 2019-2023. The defense budget as a percentage of GDP is expected to increase slightly in the forecast period.

Romania's capital expenditure allocation is expected to significantly increase during 2019-2023, primarily due to the procurement of additional F-16 multirole aircraft, multirole aircraft MRO, a HIMARS rocket artillery system, a Patriot missile defense system, corvettes, 8X8 armored vehicles, and submarines. The government's focus on its modernization plans, which require the procurement of more advanced military equipment with improved technology, is expected to drive capital expenditure over the forecast period. Revenue expenditure is also projected to increase over the forecast period at a CAGR of over 8.8%, which will be directed towards additional recruitment, training, and development programs for military personnel.

Aircraft accounted for the majority of Romania's imports during 2012-2016, with Portugal being the largest supplier. The country acquired C-27J tactical transport aircraft and F-16 AM/BM Fighting Falcons. Sensors, armored vehicles, engines, and missiles were the other imports during 2012-2016, with Italy, the US, Switzerland and France being the other significant suppliers. However, the forecast period is not expected to witness any significant increase in the country's imports. Instead, Romania will boost defense procurements steadily over the forecast period.

Companies Mentioned

Aerostar SA Airbus Helicopters Romania Avioane Craiova SA CN Romarm SA Electromagnetica SA Elprof SA General Dynamics European Land Systems (GDELS) IAR SA Brasov IOR SA Intelcan Technosystems, Inc Iveco Lockheed Martin Corporation (Lockheed Martin) S.C. Uzina Mecanica Cugir SA Simultec SRL Turbomecanica SA

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

For more information about this report visit https://www.researchandmarkets.com/research/xc8p46/future_of_the?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180608005599/en/

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Related Topics:Military Aerospace and Defense

KEYWORD: EUROPE ROMANIA

INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 06/08/2018 01:30 PM/DISC: 06/08/2018 01:30 PM

http://www.businesswire.com/news/home/20180608005599/en