Belgium Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2026

Belgium Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2026 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.

Belgium's defense budget for FY2021 is set at US$5.6 bn, registering a Y-o-Y growth rate from 2020 of 2.9%. Defense spending is expected to grow over the forecast period with the country's prioritization of defense expenditure through its strategic defense plan, even as the country recovers from the economic consequences of the COVID-19 pandemic. This overall upward trajectory will witness Belgium's total defense budget reach a peak in FY2026, rising to US$6.5 billion with a CAGR of 3.16% for the forecast period.

Over the forecast period, one of the main factors in particular driving defense spending is the country's Strategic Defense plan. This modernization plan, outlined in 2015, saw the Belgian government set out a number of goals for the 15-year period that included augmenting and modernizing their fleet through a number of key procurements, and increasing defense expenditure to reach 1.3% of its overall GDP by 2030.

Belgium’s modernization program will drive increased investment in defense over the forecast period, and the defense budget is set to continue its rising trajectory as it reaches a peak of US$6.5 billion in 2026. Despite the economic impact of the COVID-19 pandemic, Belgium is expected to meet its goal, laid out in its Strategic Defense Plan, of spending 1.3% of its overall budget on defense by 2030. The Strategic Defense Plan has also set aside EUR9.2 billion to finance acquisition purchases to strengthen the capabilities of the country’s Armed Forces, and Belgium will be investing in a number of key procurements such as an order for 34 F35A’s, a new frigate and six new minehunter vessels.

This report offers detailed analysis of Belgium's defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

Who Should Buy

– Defence Startup's, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.

– The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.

– The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.


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

– Belgium's defense budget: detailed analysis of Belgium's FY2021 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 of Belgium's military doctrine and strategy to provide a comprehensive overview of Belgium's military regulation.

– Security Environment: political alliances and perceived security threats to Belgium are examined; there help to explain trends in spending and modernisation.

– 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 Belgian defense industry.

Reasons to buy

– Determine prospective investment areas based on a detailed trend analysis of the Belgian defense market over the next five years

– Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Belgian 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 Belgian defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion

– Channelize resources by focusing on the ongoing programs that are being undertaken by the Belgian 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

Companies mentioned

Lockheed Maritn Corp

Damen Shipyards Group

Nexter Group

Table of Contents

Table of Contents

Executive Summary

Defense Budget Assessment

Budgeting Process

Defense Market Size Historical And Forecast

Drivers Of Defense Expenditure

Analysis Of Defense Budget Allocation

Military Doctrine And Security Environment

Military Doctrine And Strategy

Primary Threat Perception

Political And Strategic Alliances

Geopolitical Social And Economic Scenario

Market Entry Strategy And Regulations

Procurement Policy And Process

Market Regulations

Market Entry Route

Key Challenges

Market Attractiveness And Emerging Opportunities

Market Attractiveness, 2021 2026

Top Defense Segments By Value

Import And Export Market Dynamics

Import Market Dynamics

Export Market Dynamics

Defense Platform Acquisitions

Defense Platform Acquisitions By Value


VBMR Griffon

MQ 9B SkyGuardian

Fleet Size

Competitive Landscape

Defense Companies Operating In Belgium

Main Defense Companies


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