Romania Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Romania Defense Market Report Overview
The Romania defense budget is worth $8 billion in 2023 and is expected to achieve a CAGR of more than 2% during 2024-2028. The Romania 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.
Romania Defense Market Outlook, 2023-2028
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Romania Defense Market Drivers
Romania operates a mix of modern, NATO-standard western equipment and modified variants of Eastern Bloc-era Cold War equipment. But efforts are ongoing to modernize the older stock. Romania is making efforts to revitalize its domestic defense production as well. The war in Ukraine led Romania to announce the biggest increase in its defense budget since the end of the Cold War. Romania’s position in the Balkans and on the Black Sea makes it particularly sensitive to regional instability.
Romania Military Doctrines and Defense Strategies
Romania is one of the most committed states with regard to meeting NATO spending targets and prioritizing defense in the national budget. Romania’s military strategy broadly aligns with that of NATO and its European and Western allies. Whilst the war in Ukraine has reiterated the need to prepare for conventional wars, Romania also notes the prospect of fighting smaller and asymmetric conflicts for regional security in the Western Balkans and MENA regions. Besides COTS/MOTS purchases, Romanian modernization will encompass highly capable, emerging, and disruptive technologies to keep up with the capabilities on offer by its international allies as well as to maintain resilience in the face of hybrid threats.
Romania Defense Market Segmentation by Sectors
The key sectors in the Romania defense market are missiles and missile defense systems, military land vehicles, military rotorcraft, naval vessels and surface combatants, submarines, artillery, military simulation and training, electronic warfare, tactical communications systems, military fixed-wing, EOIR, military radar, underwater warfare systems, naval engines, military UAV, and INS GNSS. The top sector in the Romanian defense market is missiles and missile defense systems, followed by military land vehicles and military rotorcraft.
Romania Defense Market Analysis by Sectors, 2023 (%)
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Romania Defense Market - Competitive Landscape
Some of the leading defense companies in Romania are Lockheed Martin, Raytheon Technologies, Bell Textron, General Dynamics European Land Systems, Aerostar SA, Turbomecanica SA, Romaero SA Bucaresti, Retro Craiova SA, A-E Electronics SA, and Aero Consulting.
Romania Defense Market Report Overview
Market Size (2023) | $8 billion |
CAGR (2024-2028) | >2% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Sectors | Missiles and Missile Defense Systems, Military Land Vehicles, Military Rotorcraft, Naval Vessels and Surface Combatants, Submarines, Artillery, Military Simulation and Training, Electronic Warfare, Tactical Communications Systems, Military Fixed-Wing, EOIR, Military Radar, Underwater Warfare Systems, Naval Engines, Military UAV, and INS GNSS |
Leading Companies | Lockheed Martin, Raytheon Technologies, Bell Textron, General Dynamics European Land Systems, Aerostar SA, Turbomecanica SA, Romaero SA Bucaresti, Retro Craiova SA, A-E Electronics SA, and Aero Consulting |
Segments Covered in the Report
Romania Defense Sectors Outlook (Value, $ Billion, 2019-2028)
- Missiles and Missile Defense Systems
- Military Land Vehicles
- Military Rotorcraft
- Naval Vessels and Surface Combatants
- Submarines
- Artillery
- Military Simulation and Training
- Electronic Warfare
- Tactical Communications Systems
- Military Fixed-Wing
- EOIR
- Military Radar
- Underwater Warfare Systems
- Naval Engines
- Military UAV
- INS GNSS
Scope
The report provides an in-depth analysis of the following –
- Romania defense budget: detailed analysis of Romania 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 Romania military doctrine and strategy to provide a comprehensive overview of the Romania military procurement regulation.
- Security Environment: political alliances and perceived security threats to Romania are examined and 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 Romania’s defense industry.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Romanian 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 Romanian 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 Romania 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 Romanian 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 contracts awarded, and financial analysis, wherever available.
Key Players
Table of Contents
Frequently Asked Questions
The defense market size in Romania is $8 billion in 2023.
The defense market in Romania is expected to achieve a CAGR of more than 2% during 2024-2028.
The key sectors in the Romania defense market are missiles and missile defense systems, military land vehicles, military rotorcraft, naval vessels and surface combatants, submarines, artillery, military simulation and training, electronic warfare, tactical communications systems, military fixed-wing, EOIR, military radar, underwater warfare systems, naval engines, military UAV, and INS GNSS.
Some of the leading companies in the Romania defense market are Lockheed Martin, Raytheon Technologies, Bell Textron, General Dynamics European Land Systems, Aerostar SA, Turbomecanica SA, Romaero SA Bucaresti, Retro Craiova SA, A-E Electronics SA, and Aero Consulting.
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