Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Future of the German Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018

Germany defence market: Budget at $43.5 billion in 2013


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-02-04 03:26:03 - Future of the German Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 - a new market research report on companiesandmarkets.com

Germany is one of the top 10 defense markets across the world, with a defense budget allocation of US$43.5 billion in 2013. Primarily driven by military modernization programs such as the Hercules project and involvement in peacekeeping operations, the country´s defense expenditure is expected to register a CAGR of -0.42% during the period 2014-18; this decrease in spending is expected to be primarily due to the European debt crisis, which will force Germany to cut its defense budget over the forecast period. The country´s well established defense industry not only satisfies its defense requirements but also makes the country the third largest defense exporter in the world.

Investments in infrastructure and IT, the A400M development program, and peacekeeping operations, are projected

 

 

to drive defense spending over the forecast period. The Bundeswehr, Germany´s unified armed forces, is currently implementing a US$9.3 billion infrastructure and information technology program; known as the Hercules project, the program is expected to continue to 2017 and will establish decentralized systems at more than 1,500 locations in Germany, including 140,000 work stations, 7,000 mainframe computers, 300,000 telephones, and 15,000 cell phones. Under this project, The Bundeswehr will modernize its information technology infrastructure managing local and international data networks and voice networks.

The German MoD announced its plans to cut its defense budget by 2016 and is expected to reduce its expenditure on military aircraft and other arms contracts over the next five years. The budget cuts will result in reductions in the procurement of helicopters, heavy lift military transport aircraft, tanks, and jet fighters. The Bundeswehr is planning not to buy the last tranche of 37 Eurofighter aircraft and Germany is expected reduce its orders of Puma tanks by 120, 40 NH-90 naval helicopters, and also 40 Tiger multi-role attack helicopters. In addition, the MoD has announced plans to substantially reduce the size of its troop force by temporarily suspending its national conscription program, in order to make further cuts. The country expects to save US$1.31 billion during this period as a result of the reduction in armed forces and civilian support staff.

Over the forecast period the German MoD is expected to focus on the suspension of national conscription and restrict defense procurements to core military hardware only. Furthermore, Germany´s intention to align its defense capabilities with those of the EU, coupled with the decommissioning of its existing defense systems, including 15 Trans all cargo aircraft, 100 Tornado jet fighters, and a significant number of frigates from its navy, may also pose challenges to defense suppliers.

Click for report details: www.companiesandmarkets.com/Market/Defence/Market-Research/Futur ..

Browse all Defence Market Research Reports www.companiesandmarkets.com/Market/Defence/Market-Research?aCode ..

Browse all Defence Company Profile Reports www.companiesandmarkets.com/Market/Defence/Company-Profile?aCode ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com