Montenegro Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2027

Montenegro Defense Market Report Overview 

The Montenegro defense budget was worth $53.5 million in 2022 and is expected to achieve a CAGR of more than 9% during 2023-2027. The Montenegro 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.

Montenegro Defense Market Outlook

To gain more information about the Montenegro defense market forecast, download a free report sample

Montenegro Defense Market Drivers

A core driver of Montenegrin military spending is the need for modern capabilities. Montenegro has committed to its long-term strategic plan to modernize its equipment. This involves working with strategic partners and utilizing bilateral and multilateral initiatives. Its two major programs are armored vehicles and UAVs.

Due to its small military, Montenegro is reliant on international organizations for security, and developing capacities to increase interoperability is a key driver. Moreover, given its historical conflicts and grievances, Montenegro faces varied threats in its security environment. Its budget will increase in the coming years to mitigate these wherever possible.

Montenegro Military Doctrines and Defense Strategies

The primary objective of the Montenegrin security policy is to ensure ongoing territorial security as well as support international allies in operations and prepare for a variety of future threats.

Montenegro’s central strategy document, written following its independence declaration in 2006, outlines that the country’s strategic focus is security cooperation with NATO and the EU. The country is focused on protecting its national interests including freedom and equality and highlights cooperation with its European neighbors as key to ensuring this.

Montenegro Defense Market Segmentation by Sectors

The key sectors in the Montenegro defense market are military land vehicles, tactical communications, military simulation and training, EOIR systems, military UAV, and INS GNSS. For the period of 2022 to 2027, military land vehicles is the largest sector, followed by tactical communications.

Montenegro Defense Market Analysis by Sectors

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Montenegro Defense Market - Competitive Landscape

Some of the leading defense companies in the Montenegro defense market are ZF Friedrichshafen AG, Indra Sistemas SA, Ballistic Recovery Systems Inc, TARA Aerospace and Defence Products AD, and Environmental Systems Research Institute Inc.

Montenegro Defense Market Report Overview

Scope

In particular, it provides an in-depth analysis of the following-

• Montenegro’s defense budget: detailed analysis of Montenegro’s FY2022 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 the process is explained. This is coupled with an analysis of Montenegro’s military doctrine and strategy to provide a comprehensive overview of Montenegro’s military regulation.
• Security Environment: political alliances and perceived security threats to Montenegro are examined; they 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 the Montenegrin defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of Montenegro’s 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 Montenegrin 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 Montenegrin 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 Montenegrin 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