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

Romania defence market: Cybersecurity a key growth driver


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2014-04-22 01:33:01 - Future of the Romanian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 - a new market research report on companiesandmarkets.com

The budgetary limitations imposed by recent economic turmoil has seen expenditure in the Romania defence market decline from US$3 billion in 2008 to US$1.7 billion in 2013. Despite this, the demand for military modernization, combined with rising concern about Cybersecurity, is expected to drive growth at a CAGR of 2% over the next five years

Despite Romania´s budgetary constraints, the country is undertaking the restructuring of its armed forces. This process has three stages, of which one was already accomplished in 2007, with the second stage expected to finish by 2015; the final stage is anticipated to complete by 2025. The program is designed with the aim of modernizing the Romanian armed forces through the acquisition of more technologically advanced equipment

 

 

that meets NATO standards, at the expense of the number of armed personnel. It should be noted that despite these cutbacks, the Romanian military is still expected to procure second-hand military equipment to 2018.

Cyber threats have recently become an area of concern, and warrant serious consideration by the government. In 2012, a loss of US$118.9 billion was recorded globally as a result of cyber warfare. Most of the NATO states that are dependent on electronic communication are looking for solutions to counter this threat.

In 2010, a separate division was created within NATO to deal with the emerging security risks with issues related to cyber defence, energy security, non-proliferation of weapons of mass destruction, and terrorism. Romania´s NATO ambassador suggested that each NATO state invest collectively in advanced equipment and technology to combat cyber threats within the NATO alliance system. This is expected to be a significant driver of Romanian defence expenditure for the next decade.

Many international defence equipment manufacturers enter the Romanian market through acquisitions and alliances. The privatization of the Romanian defence industry provides foreign OEMs with further opportunities to enter the market. Market entry through the acquisition of a domestic company is a popular entry route into the Romanian defence industry, and many companies have followed this route.

Romania imports the majority of its defence equipment from the US, Germany, Israel, and ltaly. The US held the highest share of the total arms imports during 2008-2012 with 41.6%. The other three major import partners: Germany, Israel, and Italy collectively accounted for 50% of Romania´s total arms imports during the review period. The remaining portion of imports is accounted for by Canada, Switzerland, France, Norway, and Spain.

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