Spain Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

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Spain Defense Market Report Overview

The Spain defense budget is worth $13.1 billion in 2023 and is expected to achieve a CAGR of more than 14% during 2024-2028. The Spain 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.

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

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

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Spain Defense Market Trends

Spain’s investment in defense is focused on developing the domestic defense industrial base, developing R&D in the country. Part of the budget is for ‘special modernization programs’ including the A-400M program, and the F-110 program. Steep spending increases over the forecast period will facilitate ongoing modernization.

The country participates in numerous EU programs, including the procurement of combat air systems and RPAS. This collaboration serves partially to reduce overall procurement and development costs, but also to boost domestic industry through collaboration with Industry partners. Spain will likely enter more partnerships like this in the future and will also see its domestic industry advance from such programs. R&D programs that Spain is participating in through the EU include Next Generation Small RPAS (NGSR) and Integrated Unmanned Ground System (iUGS).

Spain Military Doctrines and Defense Strategies

The Spanish Armed Forces’ military doctrine is aligned with the NATO framework. Land, maritime, aerospace, cognitive (intangible environments such as communication techniques, and perceptions), and cyber are considered the operational domains of the Spanish Armed Forces.

A key strategy for the Spanish Armed Forces is the maintenance of its position in international organizations. The state is reliant on the collective security principles upheld by the NATO charter after years of insufficient defense budgets have left the Spanish fleet aged and depleted. The increasing multipolarity of the international arena has left some more ill-equipped European states feeling vulnerable now that the US’s attention is divided. Thus, the importance of creating a strong European defense environment is a strategic priority of Spain.

Spain Defense Market Segmentation by Sectors

The key sectors in the Spain defense market are military fixed-wing aircraft, naval vessels & surface combatants, military UAV, military land vehicles, submarines, military rotorcraft, military radar, tactical communications systems, and electronic warfare, among others. The top sector in the Spain defense market is military fixed-wing aircraft, followed by naval vessels & surface combatants.

Spain Defense Market Analysis by Sectors, 2023 (%)

Spain Defense Market Analysis by Sectors, 2023 (%)

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Spain Defense Market - Competitive Landscape

Some of the leading defense companies in Spain are Mitsubishi Corp, General Electric Co, Raytheon Technologies Corp, The Boeing Co, Lockheed Martin Corp, Airbus SE, Ingram Micro Inc, and Cisco Systems Inc.

Airbus SE: Airbus SE (Airbus) specializes in providing aeronautics, defense, and space-related services. The company manufactures commercial aircraft, passenger aircraft, helicopters, corporate jets, unmanned aerial systems, and freighter aircraft. Airbus also offers special mission aircraft, medium and light military transport aircraft, and civil & parabolic helicopters.

Spain Defense Market Report Overview

Market Size (2023) $13.1 billion
CAGR >14%
Forecast Period 2024-2028
Historical Period 2019-2023
Key Sectors Military Fixed-Wing Aircraft, Naval Vessels & Surface Combatants, Military UAV, Military Land Vehicles, Submarines, Military Rotorcraft, Military Radar, Tactical Communications Systems, and Electronic Warfare
Leading Companies Mitsubishi Corp, General Electric Co, Raytheon Technologies Corp, The Boeing Co, Lockheed Martin Corp, Airbus SE, Ingram Micro Inc, and Cisco Systems Inc

Segments Covered in the Report

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

  • Military Fixed-Wing Aircraft
  • Naval Vessels & Surface Combatants
  • Military UAV
  • Military Land Vehicles
  • Submarines
  • Military Rotorcraft
  • Military Radar
  • Tactical Communications Systems
  • Electronic Warfare


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

  • Spain defense budget: Detailed analysis of Spain’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 Spain’s military doctrine and strategy to provide a comprehensive overview of Spain’s military regulation.
  • Security Environment: Political alliances and perceived security threats to Spain are examined; they help to explain trends in spending and modernization.
  • Import Dynamics: Analysis of prevalent trends in the country’s imports over the last five years.
  • Competitive landscape and strategic insights: Analysis of the competitive landscape of Spain’s defense industry.

Reasons to Buy

  • Determine prospective investment areas based on a detailed trend analysis of Spain’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 Spanish 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 Spain’s 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 Spain’s 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.

Table of Contents

  • 1.       Executive Summary1. Executive Summary
  • 2. Defense Budget Assessment

    • 2.1. Budgeting Process
    • 2.2. Defense Market Size Historic and Forecast
    • 2.3. Drivers Of Defense Expenditure
    • 2.4. Analysis of Defense Expenditure Allocation
    • 2.5. Analysis Of Defense Budget Allocation

  • 3. Military Doctrine and Security Environment

    • 3.1. Military Doctrine and Strategy
    • 3.2. Strategic Alliances and Geopolitics
    • 3.3. Political, Social, and Economic Scenario

  • 4. Market Entry Strategy and Regulations

    • 4.1. Defense Procurement Bodies
    • 4.2. Funding Opportunities
    • 4.3. Trade Associations and Defense Clusters
    • 4.4. Types of Contracts and Opportunities
    • 4.5. Types of Procurement Procedure
    • 4.6. Procurement Policy and Market Regulations
    • 4.7. Market Entry Routes
    • 4.8. Key Challenges
    • 4.9. Major Deals and M&A

  • 5. Market Attractiveness and Emerging Opportunities

    • 5.1. Market Attractiveness, 2023–28
    • 5.2. Top Defense Segments by Value

  • 6. Defense Platform Acquisitions

    • 6.1. Defense Platform Acquisitions by Value
    • 6.2. New Generation Fighter (NGF)-Future Combat Air System
    • 6.3. F110 Class frigates
    • 6.4. European MALE RPAS
    • 6.5. A400M Atlas
    • 6.6. Eurofighter Typhoon tranche 4

  • 7. Fleet Size
  • 8. Competitive Landscape

    • 8.1. Defense Companies Operating In Spain
    • 8.2. Main Defense Companies

  • 9. Appendix

    • 9.1. About This Report
    • 9.2. About Us
    • 9.3. Contact Us

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