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

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Date: 19-Jul-2018
No. of pages: 98
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The Future of the Argentine Defense Industry Market Attractiveness, Competitive Landscape and Forecasts to 2023, published by Strategic Defence Intelligence, 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.

Synopsis

This report offers detailed analysis of the Argentine 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 Argentine defense industry market size and drivers: detailed analysis of the Argentine defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s 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 country’s imports and exports over the last five years

  • Market opportunities:list of the top ten defense investment opportunities over the next 5 years

  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Argentine defense industry.


Scope


  • The Argentine defense budget values US$2.7 billion in 2018, and registered a CAGR of 5.20% during the historic period.

  • The on-going modernization and procurement programs of the armed forces, the Falkland Islands territorial dispute with the UK, and participation in peacekeeping missions drove Argentine defense expenditure during 2014-2018.

  • With this trend expected to continue over the forecast period, the country is projected to cumulatively spend US$18 billion over 2019-2023.

  • As a percentage of GDP, the country’s defense expenditure is expected to average 0.5% over the forecast period, compared to 0.4% recorded in the historic period.


Reasons to buy


  • This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Argentine 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

  • Profiles of the top domestic and foreign defense manufacturers . This will provide the user with a total competitive landscape of the sector

  • A deep qualitative analysis of the Argentine defense industry covering sections including demand drivers, Key Trends , and latest industry contracts

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

Table of Contents

1. Introduction 8
1.1. What is this Report about? 8
1.2. Definitions 8
1.3. Summary Methodology 10
1.4. About Strategic Defence Intelligence 11

2. Executive Summary 12

3. Market Attractiveness and Emerging Opportunities 14
3.1. Current Market Scenario 15
3.1.1. Primary threat perception 15
3.1.2. Military Doctrine & Strategy 16
3.1.3. Military Fleet Size 17
3.1.4. Procurement Programs 21
3.1.5. Top Procurement Programs by Value (US$ Million) 2018-2023 23
3.1.6. Social, Political and Economic Environment & Support for Defense Projects 24
3.1.7. Political & Strategic Alliances 25
3.2. Defense Market Size Historical and Forecast 26
3.2.1. Argentina defense expenditure is expected to grow at a CAGR of 8.89% over the forecast period 26
3.2.2. Falkland Islands dispute, modernization of armed forces and contributions to international peacekeeping missions are the main factors driving Argentina defense expenditure 28
3.2.3. Defense expenditure as a percentage of GDP will increase marginally over the forecast period 30
3.3. Analysis of Defense Budget Allocation 32
3.3.1. Argentina defense budget split between capital and revenue expenditure 32
3.3.2. Capital expenditure to increase at a CAGR of 6.97% over the forecast period 34
3.3.3. Per capita defense expenditure is expected to increase over the forecast period 36
3.4. Homeland Security Market Size and Forecast 38
3.4.1. Argentina’s homeland security expenditure anticipated to increase at a CAGR of 9.59% over the forecast period 38
3.4.2. Threat of terrorism, Human and drug trafficking will drive homeland security expenditure 40
3.4.3. Argentina is considered at some risk of terrorism 41
3.4.4. Argentina faces some-level threat from foreign terrorist organizations 42
3.4.5. Argentina has a terrorism index score of “0.8” 44
3.5. Benchmarking with Key Global Markets 45
3.5.1. Argentine defense expenditure to increase at a CAGR of 8.89% over the forecast period 45
3.5.2. Argentine defense expenditure is one of the highest in Latin American countries 47
3.5.3. Argentina’s defense budget as a percentage of GDP to reach 0.5% by 2023 48
3.6. Market Opportunities: Key Trends and Growth Stimulators 49
3.6.1. Top 10 Defense Market Categories by Value (US$ million) - Forecast-Period Projections 49
3.6.2. Multi-Role Aircraft 50
3.6.3. Submarine 51
3.6.4. Transport Aircraft 52

4. Defense Procurement Market Dynamics 53
4.1. Import Market Dynamics 55
4.1.1. Argentine defense imports anticipated to increase over the forecast period 55
4.1.2. The US was a major arms supplier to Argentina during 2013-2017 56
4.1.3. Aircraft account for the majority of Argentine arms imports 58
4.2. Export Market Dynamics 59
4.2.1. Argentina has negligible arms exports 59

5. Industry Dynamics 60
5.1. Five Forces Analysis 60
5.1.1. Bargaining power of Buyer: Low 61
5.1.2. Bargaining power of Supplier: High 61
5.1.3. Barrier to entry: Medium 61
5.1.4. Intensity of rivalry: Low to medium 61
5.1.5. Threat of Substitution: Low 62

6. Market Entry Strategy 63
6.1. Market Regulation 63
6.1.1. Offset policy aids the development of the domestic defense industry 63
6.1.2. Open foreign direct investment policy 63
6.2. Market Entry Route 64
6.2.1. Budget Process 64
6.2.2. Procurement Policy and Process 65
6.2.3. Foreign Military Sales is an effective entry route for foreign defense companies 65
6.2.4. Joint product development and military collaborations provide market entry opportunities 65
6.3. Key Challenges 66
6.3.1. Small defense budget and limited technological capability limits market entry for foreign companies 66
6.3.2. Corruption in the Argentine defense sector hinders its growth 66

7. Competitive Landscape and Strategic Insights 67
7.1. Competitive Landscape Overview 67
7.2. Domestic Public Companies 69
7.2.1. Fábrica Argentina de Aviones: Overview 69
7.2.2. Fábrica Argentina de Aviones: Products 69
7.2.3. Fábrica Argentina de Aviones: Recent announcements and strategic initiatives 70
7.2.4. Fábrica Argentina de Aviones: Alliances 70
7.2.5. Fábrica Argentina de Aviones: Recent contract wins 71
7.2.6. Astillero Río Santiago: Overview 72
7.2.7. Astillero Río Santiago: Products 72
7.2.8. Astillero Río Santiago: Recent announcements and strategic initiatives 72
7.2.9. Astillero Río Santiago: Alliances 73
7.2.10. CITEDEF: Overview 74
7.2.11. CITEDEF: Products and services 74
7.2.12. CITEDEF: Recent announcements and strategic initiatives 75
7.2.13. INVAP SE: Overview 76
7.2.14. INVAP SE: Products 76
7.2.15. INVAP S.E.: Recent announcements and strategic initiatives 76
7.2.16. INVAP S.E.: Alliances 77
7.2.17. Dirección General de Fabricaciones Militares: Overview 78
7.2.18. Dirección General de Fabricaciones Militares: Products 78
7.2.19. Dirección General de Fabricaciones Militares: Recent announcements and strategic initiatives 78
7.2.20. Dirección General de Fabricaciones Militares: Alliances 79
7.2.21. Tandanor: Overview 80
7.2.22. Tandanor: Services: 80
7.2.23. Tandanor: recent announcements and strategic initiatives 80
7.2.24. Tandanor: Recent contract wins 81

8. Business Environment and Country Risk 82
8.1. Economic Performance 82
8.1.1. GDP Per Capita 82
8.1.2. GDP, Current Prices 83
8.1.3. Exports of goods and services 84
8.1.4. Imports of goods and services 85
8.1.5. Gross national disposable income 86
8.1.6. Local Currency Unit per US$ 87
8.1.7. Market Capitalization of Listed Companies 88
8.1.8. Market Capitalization of Listed Companies (% of GDP) 89
8.1.9. Government cash surplus/deficit as a percentage of GDP 90
8.1.10. Goods imports as % of GDP 91
8.1.11. Goods exports as % of GDP 92
8.1.12. Service Imports as % of GDP 93
8.1.13. Service Exports as % of GDP 94
8.1.14. Foreign Direct Investment 95
8.1.15. Net foreign direct investment as % of GDP 96
8.1.16. Mining, Manufacturing, Utilities Output 97

9. Appendix 98
9.1. About SDI 98
9.2. Disclaimer 98

List of Tables

Table 1: Argentina Land Forces Strength 17
Table 2: Argentina Air Force Strength 19
Table 3: Argentina Navy Strength 20
Table 4: Argentina Ongoing Procurement Programs 21
Table 5: Argentina Future Procurement Programs 22
Table 6: Argentine - Defense Procurement Programs by Value (US$ Million), 2018-2023 23
Table 7: Argentina Defense Expenditure (ARS Billion & US$ Billion), 2014-2023 26
Table 8: Argentina GDP Growth vs. Defense Expenditure as a Percentage of GDP, 2014-2023 30
Table 9: Argentina Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 32
Table 10: Argentina Defense Capital Expenditure (ARS Billion & US$ Million), 2014-2023 34
Table 11: Argentina Per-Capita Defense Expenditure (US$), 2014-2023 36
Table 12: Argentine Homeland Security Expenditure (ARS Billion & US$ Billion), 2014-2023 38
Table 13: Terrorism Index, 2018 42
Table 14: Benchmarking with Key Markets, 2014-2018 vs. 2019-2023 45
Table 15: Argentina - 10 Leading Defense Market Categories by Value (US$ Million), 2018-2023 49
Table 16: Offset Regulations in Argentina 63
Table 17: Argentina Budget Preparation Process 64
Table 18: Argentine - Top 10 Defense Suppliers by Value (US$ Million), 2018-2023 67
Table 19: Competitive Landscape of the Argentine Defense Market 68
Table 20: Fábrica Argentina de Aviones - Product Focus 69
Table 21: Fábrica Argentina de Aviones - Alliances 70
Table 22: Fábrica Argentina de Aviones - Recent Contract Wins 71
Table 23: Astillero Río Santiago - Product Focus 72
Table 24: Astillero Río Santiago - Alliances 73
Table 25: CITEDEF- Product and Services 74
Table 26: INVAP SE - Product Focus 76
Table 27: INVAP S.E. - Alliances 77
Table 28: Dirección General de Fabricaciones Militares - Product Focus 78
Table 29:Dirección General de Fabricaciones Militares - Alliances 79
Table 30: Tandanor - Services portfolio 80
Table 31: Tandanor - Recent Contract Wins 81

List of Figures

Figure 1: Argentina Defense Expenditure (ARS Billion), 2014-2023 27
Figure 2: Argentine Defense Expenditure (US$ Billion), 2014-2023 27
Figure 3: Argentina GDP Growth vs. Defense Expenditure as Percentage of GDP, 2014-2023 31
Figure 4:Argentine Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 33
Figure 5: Argentina Defense Capital Expenditure (ARS Billion), 2014-2023 35
Figure 6: Argentina Defense Capital Expenditure (US$ Million), 2014-2023 35
Figure 7: Argentina Per Capita Expenditure (US$), 2014-2023 37
Figure 8: Argentina Homeland Security Budget (ARS Billion), 2014-2023 39
Figure 9: Argentina Homeland Security Budget (US$ Billion), 2014-2023 39
Figure 10: Terrorism Heat Map, 2018 41
Figure 11: Terrorism Index, 2018 44
Figure 12: Benchmarking with Key Markets, 2014-2018 vs. 2019-2023 46
Figure 13: Benchmarking with World’s Largest Defense Spenders (US$ Billion), 2018 and 2023 47
Figure 14: Benchmarking with Large Defense Spenders as % of GDP - 2018 48
Figure 15: Multi-Role Aircraft Market Size (US$ Million), 2018-2023 50
Figure 16: Submarines Market Size (US$ Million), 2018-2023 51
Figure 17: Transport Aircraft Market Size (US$ Million), 2018-2023 52
Figure 18: Argentine - Defense Procurements in Terms of Supplier Relationships, 2018 54
Figure 19: Argentine Defense Imports , 2013-2017 55
Figure 20: Argentine Defense Imports by country (%), 2013-2017 57
Figure 21: Argentine defense Imports by Category, 2013-2017 58
Figure 22: Industry Dynamics - Porter’s Five Forces Analysis 60
Figure 23: Argentine GDP Per Capita, 2015-2025 82
Figure 24: Argentine GDP, Current Prices (USD Billion), 2015-2025 83
Figure 25: Argentine Exports of goods and services (LCU Billion), 2005-2014 84
Figure 26: Argentine Imports of goods and services (LCU Billion), 2005-2014 85
Figure 27: Argentine Gross National Disposable Income (USD Billion), 2005-2013 86
Figure 28: Argentine Local Currency per US$, 2015-2024 87
Figure 29: Argentine Market Capitalization of Listed Companies (USD Billion), 2005-2012 88
Figure 30: Argentine Market Capitalization of Listed Companies (% of GDP), 2005-2012 89
Figure 31: Argentine - Government Cash Surplus/Deficit as a Percentage of GDP, 2006-2012 90
Figure 32: Argentine Goods Imports as % of GDP, 2005-2014 91
Figure 33: Argentine Goods Exports as % of GDP, 2005-2014 92
Figure 34: Argentine Service Imports as % of GDP, 2005-2014 93
Figure 35: Argentine Service Exports as % of GDP, 2005-2014 94
Figure 36: Argentine Foreign Direct Investment (USD Billion), 2006-2014 95
Figure 37: Argentine Net foreign direct investment as % of GDP, 2006-2014 96
Figure 38: Argentine Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014 97

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