Future of the Greek Defense Industry to 2018:Industry Trends, Size and Shares Research Report
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  • 1. Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 Product Synopsis This report is the result of SDI's extensive market and company research covering the Greek defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news. Introduction and Landscape Why was the report written? The Future of the Greek Defense Industry Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Greek defense industry. What is the current market landscape and what is changing? Greece is one of the largest importers of arms in Europe and, of all the EU nations, allocates a high percentage of its GDP for defense purposes, making it one of the most sought after markets for foreign OEMs. Despite the weakness of its financial sector, both the country's minimal domestic defense capabilities and the threat of the Turkish military have driven Greece to continue to invest in defense, with particular focus on fighter jets, submarines, missile systems and armored vehicles. The country primarily imports arms from EU nations and the US, and is assisting in the development of the domestic industry by sub-contracting deals achieved through defense offset obligations. Over the forecast period, the Greek Ministry of Defense (MoD) is estimated to allocate a cumulative of US$9.6 billion for the procurement of military equipment. In 2013, the country invested US$2.6 billion on homeland security (HLS), as part of its alignment with the international guidelines regarding the introduction of the biometric identification of citizens and travelers. Consequently, Greece is expected to make significant acquisitions in order to implement biometric profiling. The forecast period opportunities for foreign OEMs include the provision of fighter jets, jet trainers, armored vehicles, missile systems and maritime patrol aircraft. What are the key drivers behind recent market changes? Conflict with Turkey, military modernization, and the upgrade of existing systems to drive defense expenditure What makes this report unique and essential to read? The Future of the Greek Defense Industry Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas. Key Features and Benefits The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas. The report includes trend analysis of imports and exports, together with their implications and impact on the Greek defense industry. The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future. The report allows readers to identify possible ways to enter the market, Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
  • 2. together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives. The report helps the reader to understand the competitive landscape of the defense industry in Greece. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis. Key Market Issues In 2013, Greece allocated 2.3% of its GDP to defense expenditure, a figure that represents high GDP allocation among EU members. In addition, the country is the largest importer of arms in the EU region. Defense procurements are structured into five year programs, and frequently the allocated budget for a future five year program is used to pay the debts incurred during the current program, a method that results in escalating defense budget deficits. Greece is currently concentrating on the reduction of its defense allocation as a percentage of GDP, in order to reach the recommended EU level of 2%. This reduction is expected to affect the country's procurement plans, which will result in a considerable amount of cancellations, postponements or size decreases. It may also result in the country defaulting on payments for on-going contracts, for example in the case of the submarine procurement from German company Howaldtswerke Deutsche-Werft (HDW). To effectively offset the reduction in military budget, the Greek government has to focus on both the optimization of procurements and the reduction of operation costs by decommissioning aging systems. Greece is involved in a long standing territorial dispute with Turkey, over the Cyprus region and a maritime boundary in the Gulf of Aegean. The Air Forces conduct drills in each other's airspace and the situation has twice nearly escalated in to an armed conflict. A significant differentiating factor in the arms race between these two countries is that Turkey is in an economically stronger position than Greece, and is therefore able to fund an increased level of acquisitions. In contrast, Greece has a small economy with very high budget deficits, which has resulted in the country's high level of GDP allocation for defense and this method affects other essential sectors. However, the bailout terms outlined by the IMF and the EU following the country's financial crisis will force Greece to reduce defense expenditure allocations. While this policy appears logical in the effective reduction of deficit, the simultaneous maintenance of military balance and the successful management of a reduced budget will be a key challenge for the country over the forecast period. Key Highlights Greece and Turkey are involved in a long-standing territorial dispute in the Cyprus region, and are also engaged in a sovereignty rights issue in the Gulf of Aegean. On two occasions during the 1970s, the countries came close to an armed conflict and, consequently their military procurements are much in line with one another. Turkish aircraft often conduct mock drills in the disputed air space over the Gulf of Aegean, which results in Greek forces shadowing the Turkish jets. Historically, Greece's high levels of weapons procurement have solely been driven by its perception of Turkey as its primary external threat. This perception has also driven the country to maintain one of the highest GDP defense expenditure percentages. The two countries have improved trade and diplomatic relations in recent years; however, both continue to make significant arms imports. The Greek territorial sovereign consists of mainland, a peninsula and about 3,000 islands, with 9,300 miles coastline. Greece has 120 cargo and passenger ports and its geographical situation significantly drives sea border patrol, and has resulted in the country placing an increased focus on maritime surveillance. With proximity to several countries in Europe, Asia-Pacific and Africa, Greece is considered to be a gateway for Europe and is plagued by illegal migration. The US$2.3 billion European Border protection fund for the 2007-2013 cycle has driven the procurement of biometric systems for the identification of travelers through the country. Greek arms imports accounted for 4.9% of global arms transferred in 2009, and the country was the largest importer of defense systems in the European and Central Asian region. During 2010-2012, the debt Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
  • 3. crisis and restrictions imposed by the EU impacted the country's defense imports. High defense imports in 2009 were fuelled by both the license to purchase four German Type-214 submarines worth US$2.5 billion, to be assembled in Greek shipyards, and the purchase of F-16C Block-50/52 fighter jets from the US, worth US$2 billion. table Of Content 1 Introduction 1.1 What Is This Report About? 1.2 Definitions 1.3 Summary Methodology 1.4 Sdi Terrorism Index 1.5 About Strategic Defence Intelligence 2 Executive Summary 3 Market Attractiveness And Emerging Opportunities 3.1 Defense Market Size Historical And Forecast 3.1.1 Greece Expected To Invest Us$31.4 Billion In Defense Over The Forecast Period 3.1.2 Conflict With Turkey And Military Modernization And The Upgrade Of Existing Systems To Drive Defense Expenditure 3.1.3 The Greek Defense Expenditure As A Percentage Of Gdp Set To Decline 3.2 Analysis Of Defense Budget Allocation 3.2.1 Capital Expenditure Share In The Defense Budget To Increase Over The Next Five Years 3.2.2 Greece Expected To Invest Us$9.6 Billion In The Acquisition Of Defense Equipment Over The Forecast Period 3.2.3 Defense Expenditure Allocation For The Army And Air Force Expected To Be Strong 3.2.4 Hellenic Army Expenditure To Average Us$2.8 Billion Over The Forecast Period 3.2.5 Hellenic Air Force Expenditure To Hover Around Us$2 Billion 3.2.6 Naval Expenditure To Register A Growth Rate Of 0.54% Over The Forecast Period 3.3 Homeland Security Market Size And Forecast 3.3.1 Homeland Security Market To Record A Cagr Of 0.45% Over Forecast Period 3.3.2 Illegal Migration Predicted To Drive Homeland Security Procurements 3.3.3 Threat Of Terrorism In Greece Considered Moderate 3.4 Benchmarking With Key Global Markets 3.4.1 Greek Defense Expenditure Is Small In Comparison With Its Procurement Level And Is Expected To Decline Over The Forecast Period 3.4.2 The Country Will Continue To Be A Small Contributor In The Global Arms Market 3.4.3 As A Percentage Of Gdp, Greek Defense Expenditure Is The Highest Among Eu Nations 3.4.4 Greece Faces A Moderate Level Of Terrorist Threat Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
  • 4. 3.5 Market Opportunities: Key Trends And Growth Stimulators 3.5.1 Frigates 3.5.2 Submarines 3.5.3 Fighters And Multi-role Aircraft 3.5.4 Rotorcraft Mro 4 Defense Procurement Market Dynamics 4.1 Import Market Dynamics 4.1.1 Economic Pressures Affected The Country's Defense Imports 4.1.2 Aircraft And Armored Vehicles Constitute The Majority Of Greek Defense Imports 4.1.3 The Us And Germany Emerged As The Leading Arms Suppliers To Greece 4.2 Export Market Dynamics 4.2.1 Greece Has Negligible Arms Exports 5 Industry Dynamics 5.1 Five Forces Analysis 5.1.1 Bargaining Power Of Supplier: Low 5.1.2 Bargaining Power Of Buyer: High 5.1.3 Barrier To Entry: Low 5.1.4 Intensity Of Rivalry: Low To Medium 5.1.5 Threat Of Substitution: Medium 6 Market Entry Strategy 6.1 Market Regulation 6.1.1 Offset Obligations Are Attached To All Defense Deals 6.1.2 European Defense Agency Promote Defense Procurements Within Eu 6.2 Market Entry Route 6.2.1 Foreign Oems Enter The Market Through Collaboration With Domestic Defense Firms 6.3 Key Challenges 6.3.1 Economic Crisis Will Affect Current And Future Procurements 6.3.2 Imf And Eu Regulations On Greek Defense Expenditure To Limit Greece's Flexibility In Military Maintenance 7 Competitive Landscape And Strategic Insights 7.1 Competitive Landscape Overview 7.2 Key Domestic Companies 7.2.1 Hellenic Aerospace Industry: Overview 7.2.2 Hellenic Aerospace Industry: Product Focus 7.2.3 Hellenic Aerospace Industry: Recent Announcements And Strategic Initiatives Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
  • 5. 7.2.4 Hellenic Aerospace Industry: Alliances 7.2.5 Hellenic Aerospace Industry: Recent Contract Wins 7.2.6 Hellenic Defence Systems S.a: Overview 7.2.7 Hellenic Defence Systems S.a: Product Focus 7.2.8 Hellenic Defence Systems S.a: Recent Announcements And Strategic Initiatives 7.2.9 Hellenic Defence Systems S.a: Recent Contract Wins 7.3 Key Private Sector Companies 7.3.1 Isi Hellas: Overview 7.3.2 Isi Hellas: Product Focus 7.3.3 Isi Hellas: Recent Announcements And Strategic Initiatives 7.3.4 Isi Hellas: Recent Contract Wins 7.3.5 Hellenic Shipyards S.a: Overview 7.3.6 Hellenic Shipyards S.a: Product Focus 7.3.7 Hellenic Shipyards S.a: Recent Announcements And Strategic Initiatives 7.3.8 Hellenic Shipyards S.a: Recent Contract Wins 7.3.9 Ssmart S.a: Overview 7.3.10 Ssmart S.a: Product Focus 7.3.11 Ssmart S.a: Alliances 7.3.12 Signaal Hellas: Overview 7.3.13 Signaal Hellas: Product Focus 7.3.14 Signaal Hellas: Alliances 7.3.15 Theon Sensors: Overview 7.3.16 Theon Sensors: Product Focus 7.3.17 Theon Sensors: Recent Announcements And Strategic Initiatives 7.3.18 Theon Sensors: Recent Contract Wins 7.3.19 Ordtech Military Industries: Overview 7.3.20 Ordtech Military Industries: Product Focus 7.3.21 Intracom Defense Electronics: Overview 7.3.22 Intracom Defense Electronics: Product Focus 7.3.23 Intracom Defense Electronics: Recent Announcements And Strategic Initiatives 7.3.24 Intracom Defense Electronics: Recent Contract Wins 7.3.25 Hellenic Vehicle Industry S.a: Overview 7.3.26 Hellenic Vehicle Industry S.a: Product Focus 7.3.27 Hellenic Vehicle Industry S.a: Recent Announcements And Strategic Initiatives 7.3.28 Hellenic Vehicle Industry S.a: Recent Contract Wins 8 Business Environment And Country Risk 8.1 Demographics And Social Statistics 8.1.1 Population - Rural 8.1.2 Population - Urban 8.1.3 Population - Number Of Households 8.2 Economic Performance Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
  • 6. 8.2.1 Gross Domestic Per Capita 8.2.2 Gross Domestic Product, Current Us$ 8.2.3 Exports Of Goods And Services 8.2.4 Imports Of Goods And Services 8.2.5 Manufacturing Output 8.2.6 Manufacturing Output 8.2.7 Consumer Price Index 8.2.8 Consumer Price Index 8.2.9 Local Currency Unit Per Us$ 8.2.10 Local Currency Unit Per Us$ 8.2.11 Local Currency Unit Per Us$ 8.2.12 Goods Imports As A % Of Gdp 8.2.13 Goods Trade Surplus/deficit As A % Of Gdp 8.2.14 Services Imports As A % Of Gdp 8.2.15 Services Exports As A % Of Gdp 8.2.16 Services Trade Surplus/deficit As A % Of Gdp 8.2.17 Net Foreign Direct Investment 8.2.18 Net Fdi As A Percentage Of Gdp 8.2.19 International Reserves, Including Gold 8.3 Energy And Utilities 8.3.1 Total Conventional Thermal Electricity Net Generation 8.3.2 Hydroelectricity Net Generation 8.3.3 Total Conventional Thermal Electricity Installed Capacity 8.3.4 Total Electricity Imports 8.3.5 Total Electricity Imports 8.3.6 Total Petroleum Consumption 8.3.7 Crude Oil Proved Reserves (billion Barrels) 8.4 Infrastructure Quality And Availability 8.4.1 Rail Lines, Total Network 8.5 Minerals 8.5.1 Mining, Manufacturing, Utilities Output 8.6 Technology 8.6.1 Patents Granted 8.7 Telecommunication 8.7.1 Telephone Lines 8.7.2 Telephone Lines Penetration Rate 9 Appendix 9.1 About Sdi 9.2 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
  • 7. reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Future of the Greek Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018