Venezuelan Defense Market: Market Dynamics and Emerging Opportunities – 2024: Market Dynamics and Attractiveness

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  • Research Methodology
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The country is near to economic collapse; price inflation in 2015 reached 88.2% and fears of debt default began to rise. In 2016, Venezuela remains the fifth-largest defence spender in South America The country is currently the largest arms importer in Latin America and occupies nearly one-third of military goods imported in the region.

 

The increasing military expenditure is strongly supported by revenues from the proven oil reserves in the country. This burgeoning defense expenditure can be attributed to the modernization of the armed forces, re-armament programs, border disputes, and a strong focus on the development of the indigenous military sector. However, in the recent times, the falling oil prices along with the catastrophic economic collapse is likely to hamper the industry growth.

 

In terms of production, Venezuela will remain an insignificant player in the world arms market. Local defence companies are capable of manufacturing a range of equipment – including small arms and ammunitions, simple vessels and aircraft, armoured vehicles and textiles – though their ability to develop more technologically advanced items remains limited.

 

Key Highlights

  • Political risk and economic instability will result in negative defence outlook in short to mid term
  • In December 2015, the Venezuelan National Guard received 560 vehicles dedicated for internal operations
  • In November 2015, the Venezuelan Minister of Defence announced that they will buy 12 Su-30 Multirole Fighters from Russia for an estimated US$480 million. No delivery date has been set yet
  • In November 2015, Venezuela passed the budget law for 2016 where the budget for the Ministry of Defence was set at US$ 13.5 billion, a strong increase compared to 2015
  • In October 2015, the Venezuelan Air Force ordered 24 L-15 Falcon Supersonic Aircraft from China. No delivery date has been established yet

Chapter 1 Methodology and Scope

  • Research Methodology
  • Research Scope & Assumptions
  • List of Data Sources

Chapter 2 Executive Summary

Chapter 3 UAV Market Overview

  • Market Ecosystem
  • Key Stakeholders
  • Industry Trends & Analysis

Chapter 4 Market Attractiveness and Opportunities

Defense Market Size Historical and Forecast, ($ Billions)
    • Analysis of Defense Budget Allocation
      • Revenue Expenditure: Forecast till 2014-2024, ($ Billions)
      • Capital Expenditure: Forecast till 2014-2024, ($ Billions)
      • Defense Budget as a % of national GDP 2014-2024
    • Homeland Security Market Size and Forecast, ($ Billions)
      • Homeland Security Budget: Forecast till 2014-2024, ($ Billions)
      • Civil unrest, drug trafficking, and organized crime to drive the market till 2024
      • Revenue Expenditure: account major share in homeland security budget
    • Benchmarking with key global markets
    • Analysis of Major Defense Programs
      • Fighter and Multi-role Aircraft
        1. Demand and production forecast
        2. Key aircraft programs: funding and procurement dynamics
      • Transport Aircraft
        1. Demand and production forecast
        2. Key transport aircraft programs: funding and procurement dynamics
      • Naval Programs
        1. Demand and production forecast
        2. Key naval programs: funding and procurement dynamics
      • Military Vehicle Programs
        1. Demand and production forecast
        2. Key military vehicle programs: funding and procurement dynamics
      • Military Engine Programs
        1. Demand and production forecast
        2. Key military engine programs: funding and procurement dynamics
      • Missile and Weapons Programs
        1. Demand and production forecast
        2. Key missile & weapons programs: funding and procurement dynamics

Chapter 5: Pipeline Intelligence

  • Executive Summary
  • Upcoming Products
  • Key R&D Trends
  • M&A Outlook

Chapter 6: Defense Procurement Market Dynamics

  • Import Market Dynamics
    1. Historical and Forecast Arms Import Data
  • Export Market Dynamics
    1. Historical and Forecast Arms Export Data

Chapter 7: Market Structure & Dynamics

  • Industry Analysis - Porter’s
  • PESTLE Analysis
  • Key Drivers
  • Key Challenges
  • Opportunities
  • Trends

Chapter 8: Technology Outlook

  • Executive Summary
  • Technology Evolution
  • Key R&D Trends
  • Emerging Technology Analysis
  • Technology Crunch

Chapter 9: Market Entry Strategy

  • Market Entry Route
    • Partnership, and Risk Sharing agreement with local vendors
    • Joint product development and military collaboration provide entry opportunity
  • Market Regulation and Country Risk
    • Defense Manufacturing Infrastructure
    • Government regulation – Offset Obligation
    • FDI and other procedure for capital investment in defense unit
  • Key Challenges
    • Corruption is a big obstacle
    • Strict policy against arms transfer makes entry difficult for foreign OEMs

Chapter 10: Competitive Landscape

  • CA Venezolana de Industrias Militares (CAVIM)
    • Company Overview
    • Products and services
    • Strategic Initiative
    • News and development
  • UCOCAR CA
    • Company Overview
    • Product and service
    • Strategic Initiative
    • News and development
  • Diques y Astilleros Nacionales CA (DIANCA)
    • Company Overview
    • Product and service
    • Strategic Initiative
    • News and development
List of Tables
  • Table 1: Venezuelan Defense Expenditure (US$ Billion), 2011-2016
  • Table 2: Venezuelan Defense Expenditure (US$ Billion), 2017-2024
  • Table 3: Venezuelan Defense Budget, Split Between Capital and Revenue Expenditure (%), 2011-2016
  • Table 4: Venezuelan Defense Budget, Split Between Capital and Revenue Expenditure (%), 2017-2024
  • Table 5: Venezuelan Capital Budget Allocation (US$ Billion), 2011-2016
  • Table 6: Venezuelan Capital Budget Allocation (US$ Billion), 2017-2024
  • Table 7: Venezuelan GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2011-2016
  • Table 8: Venezuelan GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP, 2017-2024
  • Table 9: Venezuelan Per-Capita Defense Expenditure (US$), 2011-2016
  • Table 10: Venezuelan Per-Capita Defense Expenditure (US$), 2017-2024
  • Table 11: Venezuelan Homeland Security Budget (US$ Billion), 2011-2016
  • Table 12: Venezuelan Homeland Security Budget (US$ Billion), 2017-2024
  • Table 13: Historical Arms Import Data, 2011-2016
  • Table 14: Forecast Arms Import Data, 2017-2024
  • Table 15: Historical Arms Export Data, 2011-2016
  • Table 16: Forecast Arms Export Data, 2017-2024
  List of Figures-
  • 1 Market Segmentation
  • 2 Market Size & Growth Prospects
  • 3 Procurement Dynamics
  • 4 Penetration & Growth Prospects
  • 5 Industry Analysis – Porter’s
  • 6 PESTEL Analysis
  • 7 Benchmarking with key global markets
  • 8 Aircraft Programs: Fighter and Multi-role aircraft
  • 9 Aircraft Programs: Transport aircraft
  • 10 Naval Programs
  • 11 Military Vehicle Programs
  • 12 Military Engine Programs
  • 13 Missile and Weapons Programs
  • 14 CA Venezolana de Industrias Militares (CAVIM): Product and Services
  • 15: CA Venezolana de IndustriasMilitares (CAVIM): News and Development
  • 16 UCOCAR CA: Products and Services
  • 17 UCOCAR CA: News and Development
  • 18 Diques y Astilleros Nacionales CA (DIANCA): Product and Services
  • 19 Diques y Astilleros Nacionales CA (DIANCA): News and Development

Key Insights Addressed:  

  • Defining market size from 2014 to 2015.
  • Estimating market growth till 2024 and consequence market forecast.
  • Identifying market drivers, restraints & future opportunities and allowing decision-maker with a range of possible outcomes and the probabilities that will occur for any choice of action.
  • Market segments and regions that will drive or lead market growth.
  • Defining Optimal Price Point (OPP) which will be accepted and recommended by maximum customers.
  • A bird’s-eye view of competitive landscape and the key market players.
  • Key strategic growth driver adopted by market players. In-depth analysis of their strategies and implication on competition & growth.
  Key Findings:  
  • In December 2015, the Venezuelan National Guard received 560 vehicles dedicated for internal operations
  • In November 2015, the Venezuelan Minister of Defence announced that they will buy 12 Su-30 Multirole Fighters from Russia for an estimated US$480 million. No delivery date has been set yet
  • In November 2015, Venezuela passed the budget law for 2016 where the budget for the Ministry of Defence was set at US$ 13.5 billion, a strong increase compared to 2015

Ameri Research implies a unique methodology of published information and primary research to bring key insights to customer decision making process. Our analytics model helps us to understand the structured and unstructured information from various sources. Key steps involves in the process are as below-

    1. Analyzing Published Information- Access to large pool of paid and unpaid published information via different sources and analyzing market trend.
    2. Setting Foundation- Input from analysis of secondary sources set our foundation to market analysis and helps in setting the scope for further research. Setting the scope involves Ameri Research proprietary statistical model, discussion with industry leaders, internal brain storming, key discussion pointers from various forums etc.
    3. Need Gap Analysis- Defining the gap between our scope and availability of information.
    4. KOL Panel Discussion- Focused Group Discussion with a structured discussion guide to fine tune the gap and deriving the factors driving/restraining the market trend.
    5. Quantitative Research- Sampling large number of industry players, Education/Research Institutes, Government bodies, NGOs, Individual acclaimed researchers and conducting primary interview with a structured questionnaire.
    6. Data Triangulation- We applies bottom-up demand approach or top-down estimation or a combined approach to triangulate the data points.
    7. Analyst Comment- Each of our analyst carry large pool of experience from domain perspective and add their value which are directional in nature
Research Methodology

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Description

The country is near to economic collapse; price inflation in 2015 reached 88.2% and fears of debt default began to rise. In 2016, Venezuela remains the fifth-largest defence spender in South America The country is currently the largest arms importer in Latin America and occupies nearly one-third of military goods imported in the region.

 

The increasing military expenditure is strongly supported by revenues from the proven oil reserves in the country. This burgeoning defense expenditure can be attributed to the modernization of the armed forces, re-armament programs, border disputes, and a strong focus on the development of the indigenous military sector. However, in the recent times, the falling oil prices along with the catastrophic economic collapse is likely to hamper the industry growth.

 

In terms of production, Venezuela will remain an insignificant player in the world arms market. Local defence companies are capable of manufacturing a range of equipment – including small arms and ammunitions, simple vessels and aircraft, armoured vehicles and textiles – though their ability to develop more technologically advanced items remains limited.

 

Key Highlights

  • Political risk and economic instability will result in negative defence outlook in short to mid term
  • In December 2015, the Venezuelan National Guard received 560 vehicles dedicated for internal operations
  • In November 2015, the Venezuelan Minister of Defence announced that they will buy 12 Su-30 Multirole Fighters from Russia for an estimated US$480 million. No delivery date has been set yet
  • In November 2015, Venezuela passed the budget law for 2016 where the budget for the Ministry of Defence was set at US$ 13.5 billion, a strong increase compared to 2015
  • In October 2015, the Venezuelan Air Force ordered 24 L-15 Falcon Supersonic Aircraft from China. No delivery date has been established yet

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