Dublin, June 17, 2024 (GLOBE NEWSWIRE) -- The "Austria Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
Austrian defense spending, as with many other European nations, has seen an appreciable uptick as the crisis in continental security stemming from Russia's full-scale invasion of Ukraine. Austria is not a member of NATO, however it is an EU member, and still contributes to European security initiatives through the EU as well as other organizations like the OSCE and the UN.
Being a formally neutral nation also comes with its own implications for security and defense: Austria maintains a small but well-equipped and highly professional standing army, alongside a robust system of 'people's militia' reserve forces - all males aged 18-35 must complete a minimum of 6 month's military service, or 9 months in 'alternative public service' for objectors. Those who have completed training are eligible to be called up again in times of national emergency.
In response to the deteriorating security environment, Austria is beginning to modernise aspects of its existing forces as well as expanding to newer capabilities, such as new medium and long-range air defense systems. It is increasing the mechanisation of its forces with additional orders of Pandur APCs, and will begin seeking a replacement for its Eurofighter combat jet fleet in the coming years, alongside other purchases such as new helicopters from Augusta Westland (Leonardo). Whilst total spending had a historic tendency to fluctuate, since 2022 Austria has seen consistent increases in defense spending, and this is anticipated to continue through until 2029, where spending peaks at $5.8 billion.
Key Highlights
- Drivers of Defense expenditure include Russia, Ukraine and European Security, tensions in the Middle East, and military technology and rearmament
- Major ongoing procurement program include procurement of long and medium-range air defense systems.
Who Should Buy
- Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
- The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
- The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.
Scope
- Austria defense budget: detailed analysis of Austria 2024 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Regulation: the procurement policy and process is explained. This is coupled with an analysis of Austria military doctrine and strategy to provide a comprehensive overview of Austria military procurement regulation.
- Security Environment: political alliances and perceived security threats to Austria are examined; there help to explain trends in spending and modernisation.
- Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years
- Competitive landscape and strategic insights: analysis of the competitive landscape of Austria defense industry.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Austria defense market over the next five years
- Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Austria market and identify the opportunities offered.
- Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
- Identify the major threats that are driving the Austria defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channel resources by focusing on the ongoing programs that are being undertaken by the Austria government
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Key Topics Covered:
- Executive Summary
- Defense Budget Assessment
- Budgeting Process
- Defense Market Size Historic And Forecast
- Drivers Of Defense Expenditure
- Analysis of Defense Expenditure Allocation
- Analysis Of Defense Budget Allocation
- Key Market Trends and Insights
- Military Doctrine And Security Environment
- Military Doctrine And Strategy
- Strategic Alliances and Geopolitics
- Political, Social and Economic Scenario
- Market Entry Strategy And Regulations
- Defense Procurement Bodies
- Funding Opportunities
- Trade Associations and Defense Clusters
- Types of Contracts and Opportunities
- How is the Procurement Procedure Decided?
- Types of Procurement Procedure
- Procurement Policy and Market Regulations
- Market Entry Routes
- Key Challenges
- Major Deals and M&A
- Market Attractiveness And Emerging Opportunities
- Market Attractiveness By Defense Sector
- Top Sectors in the South Korea Defense Market
- Top Defense Segments By Value
- Defense Platforms Import and Export Dynamics
- Defense Platforms Import Dynamics
- Defense Platforms Export Dynamics
- Defense Platform Acquisitions
- Defense Platform Acquisitions By Value
- Long-range Air Defense System
- IRIS-T SLS/M Missile Defence System
- Pandur 6x6 Evo
- Tactical Trucks
- C-390 Millenium
- Fleet Size
- Army
- Air Force
- Competitive Landscape
- Defense Companies Operating In Austria
- Main Defense Companies
- Fleet Size
- Army
- Air Force
- Competitive Landscape
- Defense Companies Operating In Austria
- Main Defense Companies
- Appendix
A selection of companies mentioned in this report includes, but is not limited to:
- Fischer Advanced Composite Components AG
- Kapsch TrafficCom AG
- Frequentis AG
- A3 Avionics GmbH
- Atlas Aerospace GmbH
- Avcon Jet AG
- Carbon Soltions Hintsteiner GmbH
- Diamond Aircraft Industries GmbH
- ESL Advanced Information Technology GmbH
- FACC AG
- Franz Achleitner Fahrzegba und ReifenZentrum GMBH
- Glock GesmbH
- Hirtenberger AG
- Hirtenbrger Defence Europe GmbH
- HPI High Pressure Instrumentation Gesellschaft mbH
- ISSC Handels GmbH
- Madritsch KG
- Photonic Optische Gerate GmbH & Co KG
- Raytech Vertriebs GmbH
- Rheinmetall Waffe Munition Arges GmbH
- Rohde & Schwarz Austria Gesellschaft mbH
- Schiebel Corp
- Steyr Mannlicher Gmbh
- Steyr Motors Betriebs GmbH
- Steyr-Daimler-Puch Spezialfahrzeug GmbH
- Thales Austria GmbH
- Embraer SA
- Diehl Defence GmbH
- Rheinmetall GmbH
- Leonardo SpA
For more information about this report visit https://www.researchandmarkets.com/r/r2z9lp
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