Bulgaria 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.
Bulgaria Defense Market Report Overview
The Bulgaria defense budget is worth $1.4 billion in 2023 and is expected to achieve a CAGR of more than 5% during 2024-2028. The Bulgaria 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.
Bulgaria Defense Market Outlook, 2023-2028
To gain more information about the Bulgaria defense market forecast, download a free report sample
Bulgaria Defense Market Drivers
Much of Bulgaria’s fleet requires substantial modernization and updating due to years of low spending levels. Since readiness levels are now very low and platforms are reaching the end of their life span, Bulgaria is forced to modernize platforms across all domains. Furthermore, the war in Ukraine has influenced all of Europe’s defense outlook, and Bulgaria’s position on the Black Sea and in the Balkans is particularly vulnerable. It is currently following a trend in NATO to revise force structure and review its capability and procurement efforts.
Bulgaria Military Doctrines and Defense Strategies
Joining NATO has seen Bulgaria reform its military away from a Soviet model towards a Western doctrine centered on combined arms maneuver warfare, and its previous position as a major arms producer in the Warsaw Pact has allowed it to man and equip two mechanized brigades as its primary warfighting formations.
The strategic goal of Bulgarian defense policy is to protect territorial integrity as well as to defend national interests. This includes building and maintaining capabilities suitable for the security environment and participating in NATO and EU defense capabilities. The key defense priorities include developing overall defense capabilities, developing the non-military component of the defense system, deepening the role of Bulgaria as a NATO and EU member, developing capabilities within the NATO collective framework, cooperating with the US, and developing the MoD as an effective integrated institution.
Bulgaria Defense Market Segmentation by Sectors
The key sectors in the Bulgaria defense market are military land vehicles, naval vessels and surface combatants, military fixed-wing, submarines, missiles and missile defense systems, electronic warfare, tactical communications systems, underwater warfare systems, EOIR systems, military radar, military simulation and training, naval engines, artillery, military UAV, and INS GNSS. The top sector in the Bulgarian defense market is military land vehicles, followed by naval vessels and surface combatants and military fixed-wing.
Bulgaria Defense Market Analysis by Sectors, 2023 (%)
For more sector insights into the Bulgaria defense market, download a free report sample
Bulgaria Defense Market - Competitive Landscape
Some of the leading defense companies in Bulgaria are Lockheed Martin Corp, Arsenal AD, Dunarit Corp., EnduroSat, TEREM, Lindner Immobilien Management EOOD, VMZ Sopot, Armstechno, Kintex, and Samel 90.
Bulgaria Defense Market Report Overview
Market Size (2023) | $1.4 billion |
CAGR (2024-2028) | >5% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Sectors | Military Land Vehicles, Naval Vessels and Surface Combatants, Military Fixed-Wing, Submarines, Missiles and Missile Defense Systems, Electronic Warfare, Tactical Communications Systems, Underwater Warfare Systems, EOIR Systems, Military Radar, Military Simulation and Training, Naval Engines, Artillery, Military UAV, and INS GNSS |
Leading Companies | Lockheed Martin Corp, Arsenal AD, Dunarit Corp., EnduroSat, TEREM, Lindner Immobilien Management EOOD, VMZ Sopot, Armstechno, Kintex, and Samel 90 |
Segments Covered in the Report
Bulgaria Defense Sectors Outlook (Value, $ Billion, 2019-2028)
- Military Land Vehicles
- Missiles and Missile Defense Systems
- Military Fixed-Wing
- Artillery
- Naval Vessels and Surface Combatants
- Submarines
- Electronic Warfare
- Military Simulation and Training
- Military Radar
- Tactical Communications Systems
- Military UAV
- EOIR Systems
- Underwater Warfare Systems
- Naval Engines
- INS GNSS
Scope
The report provides an in-depth analysis of the following –
- Bulgaria defense budget: detailed analysis of Bulgaria 2023 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 Bulgarian military doctrine and strategy to provide a comprehensive overview of Bulgaria’s military procurement regulation.
- Security Environment: political alliances and perceived security threats to Bulgaria are examined; there help to explain trends in spending and modernization.
- 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 Bulgaria’s defense industry.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of Bulgaria 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 Bulgaria 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 Bulgaria 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 Bulgaria 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
Samel 90 plc
NVL Group
Table of Contents
Frequently asked questions
-
What is the Bulgaria defense market size in 2023?
The defense market size in Bulgaria is $1.4 billion in 2023.
-
What is the Bulgaria defense market growth rate?
The defense market in Bulgaria is expected to achieve a CAGR of more than 5% during 2024-2028.
-
What are the key sectors in the Bulgaria defense market?
The key sectors in the Bulgaria defense market are military land vehicles, naval vessels and surface combatants, military fixed-wing, submarines, missiles and missile defense systems, electronic warfare, tactical communications systems, underwater warfare systems, EOIR systems, military radar, military simulation and training, naval engines, artillery, military UAV, and INS GNSS.
-
Which are the leading companies in the Bulgaria defense market?
Some of the leading companies in the Bulgaria defense market are Lockheed Martin Corp, Arsenal AD, Dunarit Corp., EnduroSat, TEREM, Lindner Immobilien Management EOOD, VMZ Sopot, Armstechno, Kintex, and Samel 90.
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.