Boston, MA -- (ReleaseWire) -- 06/25/2014 -- BMI 's Spain Defence & Security Report for Q3 2014 examines the country's strategic posture, its defence industry and its defence procurement plans. It also details the country's armed forces' orders of battle, in addition to the competencies and performance of its major defence companies.
In 2014 BMI believes that Spain will spend USD14bn. This will be an increase from 2013 defence spending levels which saw the country's defence budget valued at USD14.3bn. Although Spanish defence spending has experienced a period of decline between 2010 and 2013, we believe that spending levels will once again rise during the remainder of the forecast period up to 2018. On average, therefore, we expect Spain to spend circa USD14.2bn on defence during the years 2015-2018.
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Given the continuing slowdown in public spending which is being experienced in Spain, it is perhaps of little surprise that the country has failed to maintain NATO's non-binding commitment for its members to spend at least two percent of their Gross Domestic Product on defence annually.
Spain maintains three armed services, notably its army, air force and navy. On average, between 2003 and 2011, the combined numerical strength of these forces has averaged 127,200 personnel. Meanwhile, Spain's defence trade balance fluctuates between a surpluse and deficit. This year, we expect the defence trade surplus to reach USD57.1mn. For the remainder of the forecast period up to and including 2018, we expect Spain's defence trade surplus to be worth on average USD72mn each year.
As the figures regarding Spain's defence trade balance articulate, the country is a net exporter of defence equipment. We expect defence exports to increase in value into 2015 reaching USD199.1mn, and then USD217.1mn in 2016. The final two years of the forecast period will see the value of the defence exports reaching USD235.3mn and USD255.8mn respectively in 2017 and 2018. Although Spain is considered a net exporter of defence...
The Spain Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's Spain Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Spanish defence and security industry.
- Benchmark BMI's independent defence and security industry forecasts on Spain to test other views - a key input for successful budgetary and strategic business planning in the Spanish defence and security market.
- Target business opportunities and risks in the Spanish defence and security sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Spain.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
Global and Regional Political Outlooks
A strategic overview of the world's major political risks, identifying countries facing leadership successions and nations at risk of upheaval, inter-state conflict or separatism and insurgencies, plus a summary of the world's 'wild card' low-probability high-impact risks.
Snapshot evaluation of the major issues affecting the defence and security sectors, economy and politics, with issues subdivided into 'Strengths', 'Weaknesses', 'Opportunities' and 'Threats'.
Political Risk Assessment
Drawing on BMI's heritage of more than 25 years of Country Risk analysis, this comprehensively evaluates the key risks to domestic politics and foreign relations, focusing on issues most likely to affect either domestic security or the defence sector.
Security Risk Analysis
BMI's proprietary Security Risk Ratings provide a reliable - and country comparable - guide to conflict, terrorism and criminal risk, backed up by our analyst's latest assessment of each component. Furthermore, drawing on our country risk expertise, we assess the state's vulnerability to a serious - or prolonged - terrorist campaign.
Armed Forces Spending/Expenditure
The reports contain a detailed breakdown of areas of expenditure by the armed forces, these include spending on international deployments, WMDs and missile defence systems as well as individual breakdowns of the cost-per-soldier.
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