2019 Eastern Europe Defense Market Outlook by Market Size, Business Plans | Growth Rate by Top Key Players and Regions Forecast to 2024

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Eastern Europe Defense

The comprehensive study of “Eastern Europe Defense Market” report provides deep idea into the market dynamics & overall development of the industry. The report covers growth prospect, current information, market risks involved, cost structure & several other vital information is included in the Eastern Europe Defense industry report. The latest market study on the Eastern Europe Defense Market applies the best primary and secondary research techniques to bring the growth rate up to 2024.

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Market Overview:

  • The Eastern Europe Defense Market is projected to grow at a CAGR of over 4% during the forecast period 2019 - 2024.
  • - Several countries in Eastern Europe made huge increases in their defence spending in 2018. According to SIPRI, spending by Poland rose by 8.9% in 2018 to reach USD 11.6 billion, while that of Ukraine was up by 21% to reach USD 4.8 billion. Spending by countries like Bulgaria and Romania also grew by around 20% in 2018.
  • - Countries in the region are also going through many military modernisation plans, and are planning to upgrade their armed, naval and air forces. This may drive the market for new defense equipment in the coming years.
  • - Growing perceptions of threat from Russia and the calls from the United States to NATO countries to increase their defence spending are also some growth drivers for the market.
  • Scope of the Report:

  • Bulgaria, Hungary, Czech Republic, Ukraine, Moldova, Belarus, Russia, Slovakia, Romania, and Poland are some of the major countries in Eastern Europe. Other countries include Montenegro, Serbia, Albania, Croatia, Bosnia and the Baltic countries. The report includes revenues from both procurement and aftermarket services.
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    Eastern Europe Defense Market by Key Players:

  • Rostec
  • United Aircraft Corporation
  • United Shipbuilding Corporation
  • Ukroboronprom
  • Rheinmetall AG
  • BAE Systems plc
  • Thales Group
  • Raytheon Company
  • Airbus SE
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • General Dynamics Corporation
  • Reasons to Buy Eastern Europe Defense Market Report:

    • In-depth analysis of the market on the global and regional level.
    • Major changes in market dynamics and competitive landscape.
    • Segmentation on the basis of type, application, geography and others.
    • Historical and future market research in terms of size, share, growth, volume & sales.
    • Major changes and assessment in market dynamics & developments.
    • Industry size & share analysis with industry growth and trends.
    • Emerging key segments and regions
    • Key business strategies by major market players and their key methods.
    • The research report covers size, share, trends and growth analysis of the Eastern Europe Defense Market on the global and regional level.

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    Key Market Trends:

    Vehicles Segment to Dominate the Market Share in the Years to Come.

    As of 2018, vehicles segment has dominated the market, the reason being the various upgradation and procurement plans that are going on in the region. Most of the investments are now being directed towards fleet expansion initiatives. Also, fleet modernisation plans are underway for many countries, as most of the fleet in the region belonged to the Soviet era. Many countries in the region are members of NATO and they have vowed to increase their military spending to 2% of the GDP, the growth of which will help the procurement of new military vehicles, which form the forefront of the requirements.

    Poland to Show High Growth During the Forecast Period

    Currently, Russia is the largest defence market in Eastern Europe. Russia is one of the military superpowers globally and it has been increasing its military spending over the years. Russia's military spending decreased by 3.5% compared with 2017. Still, at USD 61.4 billion, Russian military spending was the sixth largest in the world as of 2018. With such high military spending, the country is dominating the market in the region with various procurements and aftermarket investments. However, during the forecast period, Poland is expected to show high growth in the region. Poland's military is continuously undergoing changes, aimed at transforming it into a more capable, modern, and NATO compatible force. The government is making changes in every area of operation, including training, protection, communications, weapon systems and all types of vehicles. Main elements of the Polish army’s modernization plans include the improvement of troop capacity and air defence systems and the development of weaponry and manned and unmanned vehicle strength.

    Detailed TOC of Eastern Europe Defense Market Report

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