New Defense market report from Business Monitor International: "Greece Defence & Security Report Q4 2014"
Boston, MA -- (SBWIRE) -- 10/24/2014 -- BMI expects Greece to spend up to USD6.2bn on defence in 2014. On average, Greece has spent USD6.6bn on defence between 2010 and 2013. Generally, we have observed a downward trend as far as Greek defence spending is concerned during this period. This is not altogether surprising as the country has been in the grip of a severe financial crisis which has prompted widespread and dramatic cuts on public spending. For the remainder of the forecast period, we expect Greece to spend an average of USD5.7bn on defence between 2015 and 2018.
Greece is one of a handful of NATO nations which frequently spends in excess of two percent of its GDP on defence. Greece has succeeded in maintaining defence spending at above two percent of its GDP between 2010 and 2013. We expect this trend to continue for the remainder of the forecast period.
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We have given Greece an overall security risk rating of 70 for Q414. On average, the country has scored an overall risk rating of 71 for the period January 2007 until Q414. We believe Greece to have a moderate risk of becoming involved in a major interstate conflict. Similarly, we believe that the country has a risk of experiencing a major terrorist attack, and also that it is at risk from significant criminal activity.
It was reported in mid-August 2014 that Rheinmetall will supply the Hellenic Army with 12,000 rounds of 120mm ammunition for the country's Leopard-2 Main Battle Tanks. The order is worth EUR52mn to the company. This is the first purchase of 120mm ammunition that Greece has made to arm these tanks. Deliveries of the ammunition are expected to be completed by 2016.
Finally, the Hellenic Navy announced in mid-June 2014 that it would complete a long-stalled order for three Type-214 conventional submarines from Germany. The first boat is expected to be completed by the end of 2014, with the remaining two boats to be delivered by 2016.
The Greece Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's Greece Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Greek defence and security industry.
- Benchmark BMI's independent defence and security industry forecasts on Greece to test other views - a key input for successful budgetary and strategic business planning in the Greek defence and security market.
- Target business opportunities and risks in the Asia defence and security sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Asia.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
Global and Regional Political Outlooks
A strategic overview of the world's major political risks, identifying countries facing leadership successions and nations at risk of upheaval, inter-state conflict or separatism and insurgencies, plus a summary of the world's 'wild card' low-probability high-impact risks.
Snapshot evaluation of the major issues affecting the defence and security sectors, economy and politics, with issues subdivided into 'Strengths', 'Weaknesses', 'Opportunities' and 'Threats'.
Political Risk Assessment
Drawing on BMI's heritage of more than 25 years of Country Risk analysis, this comprehensively evaluates the key risks to domestic politics and foreign relations, focusing on issues most likely to affect either domestic security or the defence sector.
Security Risk Analysis
BMI's proprietary Security Risk Rankings provide a reliable - and country comparable - guide to conflict, terrorism and criminal risk, backed up by our analyst's latest assessment of each component. Furthermore, drawing on our country risk expertise, we assess the state's vulnerability to a serious - or prolonged - terrorist campaign.
Armed Forces Spending/Expenditure
The reports contain a detailed breakdown of areas of expenditure by the armed forces, these include spending on international deployments, WMDs and missile defence systems as well as individual breakdowns of the cost-per-soldier.
Domestic Security Overview
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