Austria Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029

Austria Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029

Summary

Austria Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Austrian defense spending, as with many other European nations, has seen an appreciable uptick as the crisis in continental security stemming from Russia’s full-scale invasion of Ukraine. Austria is not a member of NATO, however it is an EU member, and still contributes to European security initiatives through the EU as well as other organizations like the OSCE and the UN. Being a formally neutral nation also comes with its own implications for security and defense: Austria maintains a small but well-equipped and highly professional standing army, alongside a robust system of ‘people’s militia’ reserve forces - all males aged 18-35 must complete a minimum of 6 month’s military service, or 9 months in ‘alternative public service’ for objectors. Those who have completed training are eligible to be called up again in times of national emergency.

In response to the deteriorating security environment, Austria is beginning to modernise aspects of its existing forces as well as expanding to newer capabilities, such as new medium and long-range air defense systems. It is increasing the mechanisation of its forces with additional orders of Pandur APCs, and will begin seeking a replacement for its Eurofighter combat jet fleet in the coming years, alongside other purchases such as new helicopters from Augusta Westland (Leonardo). Whilst total spending had a historic tendency to fluctuate, since 2022 Austria has seen consistent increases in defense spending, and this is anticipated to continue through until 2029, where spending peaks at $5.8 billion.

Key Highlights

• Drivers of Defense expenditure include Russia, Ukraine and European Security, tensions in the Middle East, and military technology and rearmament
• Major ongoing procurement program include procurement of long and medium-range air defense systems.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers detailed analysis of Austria defense market 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 -

• Austria defense budget: detailed analysis of Austria 2024 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of Austria military doctrine and strategy to provide a comprehensive overview of Austria military procurement regulation.
• Security Environment: political alliances and perceived security threats to Austria are examined; there help to explain trends in spending and modernisation.
• Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
• Competitive landscape and strategic insights: analysis of the competitive landscape of Austria defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Austria defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Austria market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Austria defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Austria government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available