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Future of the Bulgarian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

  • Published Date: 27 Dec 2018
  • Number of Pages: 64
  • Category: Defense
  • Country: Bulgaria
Future of the Bulgarian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Summary

"Future of the Bulgarian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023", published by GlobalData, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report offers detailed analysis of the Bulgarian defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -
- The defense industry market size and drivers: detailed analysis of the Bulgarian defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the countrys expenditure and modernization patterns
- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
- Import and Export Dynamics: analysis of prevalent trends in the countrys imports and exports over the last five years
- Market opportunities: details of the top defense investment opportunities
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Bulgarian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Scope

- The Bulgarian defense budget is valued at US$991.9 million in 2018 and registered a CAGR of 7.29% during the historic period.
- The ongoing modernization of the countrys armed forces to meet NATO standards, along with its participation in international peacekeeping missions, drove Bulgarias defense expenditure during the historic period.
- With this trend expected to continue over the forecast period, the countrys defense expenditure is anticipated to cumulatively value US$6.4 billion during 2019-2023.

Reasons to buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Bulgarian defense industry market trends for the coming five years
- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
- Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the Bulgarian defense industry covering sections including demand drivers, Key Trends and Growth Stimulators, and latest industry contracts.
Publisher Name : GlobalData

1. Introduction 6
1.1. What is this Report About? 6
1.2. Definitions 6
1.3. Summary Methodology 8
1.4. About GlobalData 9
2. Executive Summary 10
3. Market Attractiveness and Emerging Opportunities 11
3.1. Current Market Scenario 12
3.1.1. Military Fleet Size 12
3.1.2. Procurement Programs 15
3.1.3. Key Drivers and Challenges 16
3.2. Defense Market Size Historical and Forecast 17
3.2.1. Bulgarian defense budget to grow at a forecast-period CAGR of 9.34% 17
3.2.2. The countrys participation in peacekeeping missions and modernization plans to meet NATO standards will boost defense expenditure 19
3.2.3. Bulgarias defense expenditure as a percentage of GDP is projected to increase over the forecast period 20
3.3. Analysis of Defense Budget Allocation 22
3.3.1. Capital expenditure will increase over the forecast period 22
3.3.2. Capital expenditure is anticipated to record a forecast-period CAGR of 4.56% 24
3.3.3. Per capita defense expenditure to rise over the forecast period 26
3.4. Homeland Security Market Size and Forecast 27
3.4.1. Homeland security expenditure will post a forecast-period CAGR of 2.9% 27
3.4.2. Cybercrime and border control measures to drive the homeland security budget 29
3.4.3. Bulgaria falls under the some risk category on the terrorism index 30
3.4.4. Bulgaria faces some level threat from terrorist organizations 31
3.4.5. Bulgaria has a terrorism index score of 1.2 33
3.5. Benchmarking with Key Global Markets 34
3.5.1. Bulgarias defense budget expected to increase over the forecast period 34
3.5.2. Bulgarias military expenditure is limited compared to countries with the largest defense expenditures 36
3.5.3. The defense budget as a percentage of GDP is set to increase over the forecast period 37
3.6. Market Opportunities: Key Trends and Drivers 38
4. Defense Procurement Market Dynamics 39
4.1. Import Market Dynamics 40
4.1.1. Bulgaria recorded very limited imports during the historic period 40
4.2. Export Market Dynamics 41
4.2.1. Defense exports increased during the historic period 41
4.2.2. Iraq, Angola and Saudi Arabia were major arms recipients 42
4.2.3. Armored vehicles and artillery accounted for 88.0% of defense exports 43
5. Market Entry strategy 44
5.1. Market Regulation 44
5.1.1. Offsets are usually 70% indirect and 30% direct 44
5.1.2. FDI policies in Bulgaria 44
5.2. Market Entry Route 45
5.2.1. Budgeting process 45
5.2.2. Procurement Policy and Process 46
5.2.3. Joint ventures and engagement with local representatives provide attractive market entry routes 46
6. Competitive Landscape and Strategic Insights 47
6.1. Competitive Landscape Overview 47
7. Business Environment and Country Risk 48
7.1. Economic Performance 48
7.1.1. GDP Per Capita at Constant Prices (US$) 48
7.1.2. GDP at Current Prices (US$) 49
7.1.3. Exports of Goods and Services 50
7.1.4. Imports of Goods and Services 51
7.1.5. Gross National Disposable Income 52
7.1.6. LCU per US$ (Period Average) 53
7.1.7. Market Capitalization of Listed Companies 54
7.1.8. Market Capitalization of Listed Companies (% of GDP) 55
7.1.9. Government Cash Surplus/Deficit as a Percentage of GDP 56
7.1.10. Goods Exports as a Percentage of GDP 57
7.1.11. Goods Imports as a Percentage of GDP 58
7.1.12. Service Imports as a Percentage of GDP 59
7.1.13. Services Exports as a Percentage of GDP 60
7.1.14. Foreign Direct Investment (FDI), net (BoP, current US$ Billion) 61
7.1.15. Net FDI as a Percentage of GDP 62
7.1.16. Mining, Manufacturing, Utilities Output 63
8. Appendix 64
8.1. About GlobalData 64
8.2. Disclaimer 64

List Of Tables


Table 1: Bulgarian Ground Forces Strength 12
Table 2: Bulgarian Air Force Strength 13
Table 3: Bulgarian Navy Strength 14
Table 4: Bulgarian Ongoing Development and Procurement Programs (US$ Million) 15
Table 5: Bulgarian Future Procurement Programs 15
Table 6: Bulgarian Defense Expenditure (BGN Million and US$ Million), 2014-2023 17
Table 7: Bulgarian GDP Growth and Defense Expenditure as a Percentage of GDP Growth (%), 2014-2023 20
Table 8: Bulgarian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 22
Table 9: Bulgarian Defense Capital Expenditure (BGN Million & US$ Million), 2014-2023 24
Table 10: Bulgarian Per Capita Defense Expenditure (US$), 2014-2023 26
Table 11: Bulgarian Homeland Security Expenditure (BGN Million and US$ Million), 2014-2023 27
Table 12: Terrorism Index, 2018 31
Table 13: Benchmarking with Key Markets - 2014-2018 vs 2019-2023 34
Table 14: Top Bulgarian Defense Sectors by Value (US$ Million), 2018-2023 38
Table 15: Bulgarian Budget Process 45
Table 16: Bulgarian Procurement Process 46
Table 17: Bulgarian - Competitive Landscape of Defense Industry, 2018 47

List Of Figures


Figure 1: Bulgarian Defense Expenditure (BGN Million), 2014-2023 18
Figure 2: Bulgarian Defense Expenditure (US$ Million), 2014-2023 18
Figure 3: Bulgarian GDP Growth and Defense Expenditure as a Percentage of GDP Growth (%), 2014-2023 21
Figure 4: Bulgarian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 23
Figure 5: Bulgarian Defense Capital Expenditure (BGN Million), 2014-2023 25
Figure 6: Bulgarian Defense Capital Expenditure (US$ Million), 2014-2023 25
Figure 7: Bulgarian Per Capita Defense Expenditure (US$), 2014-2023 26
Figure 8: Bulgarian Homeland Security Expenditure (BGN Million), 2014-2023 28
Figure 9: Bulgarian Homeland Security Expenditure (US$ Million), 2014-2023 28
Figure 10: Terrorism Heat Map, 2018 30
Figure 11: Terrorism Index, 2018 33
Figure 12: Bulgaria - Benchmarked Against Key Markets (%), 2014-2018 vs. 2019-2023 35
Figure 13: Defense Expenditure of the Worlds Largest Military Spenders (US$ Billion), 2018 and 2023 36
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 37
Figure 15: Bulgarian Defense Imports (US$ Million), 2013-2017 (TIV Values*) 41
Figure 16: Bulgarian Defense Imports by Country (%), 2013-2017 42
Figure 17: Bulgarian Defense Imports by Category (%), 2013-2017 43
Figure 18: Bulgarian - GDP Per Capita at Constant Prices (US$), 2015-2025 48
Figure 19: Bulgarian - GDP at Current Prices (US$ Billion), 2015-2025 49
Figure 20: Bulgarian - Exports of Goods and Services (LCU Billion), 2005-2014 50
Figure 21: Bulgarian - Imports of Goods and Services (LCU Billion), 2005-2014 51
Figure 22: Bulgarian - Gross National Disposable Income (US$ Billion), 2005-2012 52
Figure 23: Bulgarian - LCU per US$, 2015-2024 53
Figure 24: Bulgarian - Market Capitalization of Listed Companies (US$ Billion), 2005-2012 54
Figure 25: Bulgarian - Market Capitalization of Listed Companies (% of GDP), 2005-2012 55
Figure 26: Bulgarian Government Cash Surplus/Deficit as a Percentage of GDP (LCU), 2005-2012 56
Figure 27: Bulgarian - Goods Exports as a Percentage of GDP, 2005-2014 57
Figure 28: Bulgarian - Goods Imports as a Percentage of GDP, 2005-2014 58
Figure 29: Bulgarian - Services Imports as a Percentage of GDP, 2005-2014 59
Figure 30: Bulgaria - Services Exports as a Percentage of GDP, 2005-2014 60
Figure 31: Bulgarian - FDI, Net (BoP, Current US$ Billion), 2005-2014 61
Figure 32: Bulgarian - Net FDI as a Percentage of GDP, 2005-2014 62
Figure 33: Bulgarian - Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014 63

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