Belgium Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Belgium Defense Market Overview
The Belgium defense budget is worth $7.1 billion in 2023. The country’s defense budget is expected to grow at a CAGR of more than 4% during 2024-2028. An increase in military expenditure will allow Belgium to pursue modernization projects including naval vessels and aircraft. The Army will also be able to use most of the funding to acquire new equipment including armored vehicles and artillery.
Belgium Defense Market Outlook, 2023-2028 ($ Billion)
Buy Full Report to Gain More Information about the Belgium Defense Market Forecast
The Belgium 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, key sectors, 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.
Market Size (2023) | $7.1 billion |
CAGR (2024-2028) | >4% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Sectors | · Military Fixed-Wing
· Naval Vessels and Surface Combatants · Military Land Vehicles · Missiles and Missile Defense Systems · Tactical Communications Systems · Military Unmanned Maritime Vehicles · Military Simulation and Training |
Leading Companies | · Solvay SA
· Barco NV · John Cockerill Group · European Organisation for the Safety of Air Navigation · Societe Anonyme Belge de Constructions Aeronautiques · Air Component · Antwerp Space N.V. |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Belgium Defense Market Drivers
- Modernization: Belgium committed to a modernization plan in 2015 that included major purchases for all three branches of its armed forces, namely the Land, Air, and Maritime forces.
- NATO targets: Since the beginning of the conflict in Ukraine, Belgium has increased its spending targets and will increase spending to bring the country more in line with the spending targets set by the alliance.
Belgium Military Doctrines and Defense Strategies
The conflict in Ukraine has heightened Belgian security and defense awareness.
In 2022, the Land Force, Air Force, and Maritime Force of the Belgian military were changed to the Land, Air, and Maritime Components. The current framework also includes Cyber-Influence. Belgian Strategic Documents cite the three core tasks of Belgian defense are contributing to collective defense, contributing to collective security through multilateral operations, and protecting Belgian nationals globally.
As part of the Strategic Defence Plan, there has been an emphasis on increased budget allocation for defense, though this goal has been increased following the crisis in Ukraine. There has also been a focus on expanding cyber intelligence capacities, promoting ‘cyber-influence’ capabilities as a fourth component.
Belgium Defense Market Segmentation by Sectors
The top sector in the Belgian defense market is military fixed-wing, followed by naval vessels & surface combatants, and military land vehicles.
The key sectors in the Belgian defense market are military fixed-wing, naval vessels and surface combatants, military land vehicles, missiles and missile defense systems, tactical communications systems, military unmanned maritime vehicles, and military simulation and training, among others. Military fixed wing is forecast to be the largest sector in Belgium’s defense market over the forecast period as well.
Belgium Defense Market Analysis by Sectors, 2023 (%)
Buy Full Report for more Sector Insights into the Belgium Defense Market
Belgium Defense Market - Competitive Landscape
Some of the leading defense companies operating in Belgium are:
- Solvay SA
- Barco NV
- John Cockerill Group
- European Organisation for the Safety of Air Navigation
- Societe Anonyme Belge de Constructions Aeronautiques
- Air Component
- Antwerp Space N.V.
Belgium Defense Market Analysis by Companies
Buy Full Report for more Company Insights into the Belgium Defense Market
Segments Covered in the Report
Belgium Defense Market Sectors Outlook (Value, $ Billion, 2019-2028)
- Military Fixed-Wing
- Naval Vessels and Surface Combatants
- Military Land Vehicles
- Missiles and Missile Defense Systems
- Tactical Communications Systems
- Military Unmanned Maritime Vehicles
- Military Simulation and Training
Scope
The report provides:
- Detailed analysis of the Belgium 2022 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Explanation of the procurement policy and process. This is coupled with an analysis of the Belgian military doctrine and strategy to provide a comprehensive overview of Belgium’s military regulation.
- Examination of political alliances and perceived security threats to Belgium and explains trends in spending and modernization.
- Analysis of prevalent trends in the country’s imports and exports over the last five years.
- Analysis of the competitive landscape of Belgium’s defense industry.
Key Highlights
• Drivers of Defense expenditure include Modernization programs, NATO targets, and Internal operations
• Major ongoing procurement program include procurement of F-35A, Anti-Submarine Warfare Frigate (ASWF), rMCM program
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Belgium defense market over the next five years.
- Gain an in-depth understanding of the underlying factors driving demand for different defense and internal security segments in the Belgium 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 Belgium defense market providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channel resources by focusing on the ongoing programs that are being undertaken by the Belgium government.
- Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contract awarded, and financial analysis, wherever available.
Table of Contents
Frequently asked questions
-
What is the Belgium defense market size in 2023?
The defense market size in Belgium is $7.1 billion in 2023.
-
What is the Belgium defense market growth rate?
The defense market in Belgium is expected to achieve a CAGR of more than 4% during 2024-2028.
-
Which is the leading sector in the Belgium defense market in 2023?
Military fixed-wing is the leading sector in the Belgium defense market in 2023.
-
Who are the key companies operating in the Belgium defense market?
Some of the leading defense companies operating in Belgium are Solvay SA, Barco NV, John Cockerill Group, European Organisation for the Safety of Air Navigation, Societe Anonyme Belge de Constructions Aeronautiques, Air Component, and Antwerp Space N.V.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.