Austria Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Austria Defense Market Report Overview 

The Austria defense budget is estimated to be worth $3.4 billion in 2023 and is expected to achieve a CAGR of more than 11% during 2024-2028. Austria’s defense budget is set to increase in the coming years, due to the conflict in Ukraine, and also due to ongoing modernization efforts, with the country producing systems including helicopters and combat aircraft in the forecast period.

The Austria defense market research 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.

Austria Defense Market Outlook, 2023-2028 ($ Billion)

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Austria Defense Market Drivers

Austria has been committed to modernization for some years, with ongoing key acquisitions, and increased investment in enabling these purchases. Moreover, the conflict in Ukraine has spurred defense spending, with Austria committing to increasing spending in the coming years.

Furthermore, the variety of threats that Austria is facing is a major driver of spending, with conventional and varied asymmetrical threats requiring different approaches.

Austria Military Doctrines and Defense Strategies

In recent years, Austria has established increased early warning capabilities which work in combination with military preparedness to make the country a viable military power. The military is tasked with ensuring domestic sovereignty, as well as facilitating international crisis management.

Austria’s military strategy centers on trying to ensure ongoing peace and avoid violent conflict, as well as fostering relations with allies to ensure ongoing international security. It works with the EU and NATO to pursue common security goals, particulary those in the European neighborhood which increasingly threaten EU security. Austrian security documents describe numerous threats to ongoing stability, including destabilization, shifting global power relations, transnational organized and economic crime, and the proliferation of WMDs globally.

Austria Defense Market Segmentation by Sectors

The key sectors in the Austria defense market are military fixed-wing aircraft, military rotorcraft, electronic warfare, military radar, EOIR, military simulation and training, tactical communications, military land vehicles, and INS GNSS. Military fixed-wing aircraft is the top segment in the Austrian defense market and is expected to rank as the leading sector in the coming years.

Austria Defense Market Analysis by Sectors, 2023 (%)

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Austria Defense Market - Competitive Landscape

Some of the leading defense companies in Austria are Mitsubishi Corp, Accenture Plc, Ingram Micro Inc, Cisco Systems Inc, ThyssenKrupp AG, Heraeus Holding GmbH, Arrow Electronics Inc, Jabil Inc, ABB Ltd, and SPINNER GmbH.

Austria Defense Market Report Overview

Segments Covered in the Report

Austria Defense Market Sectors Outlook (Value, $ Billion, 2019-2028)

• Military Fixed-Wing Aircraft
• Military Rotorcraft
• Electronic Warfare
• Military Radar
• EOIR
• Military Simulation and Training
• Tactical Communications
• Military Land Vehicles
• INS GNSS

Scope

The report provides an in-depth analysis of the following –

• Austria’s defense budget: detailed analysis of Austria’s FY2023 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’s military doctrine and strategy to provide a comprehensive overview of Austria’s military regulation.
• Security Environment: political alliances and perceived security threats to Austria are examined; they 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 the Austrian defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of Austria’s 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 Austrian 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 Austrian 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 Austrian 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