The Argentine Defense Industry – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015

1Introduction
1.1About this Report
1.2Definitions
1.3Methodology
1.3.1Secondary research
1.3.2Primary research
1.3.3Conventions
1.4ICD Research Intelligence Terrorism Index
1.5About ICD Research
1.6About Strategic Defence Intelligence (www.strategicdefenceintelligence.com)
2Executive Summary
3Market Attractiveness and Emerging Opportunities
3.1Defense Market Size and Forecast
3.1.1Argentine defense budget to grow at a CAGR of 15.87% during the forecast period
3.1.2Defense expenditure to be driven by modernization programs, contributions to international peacekeeping missions and the Falkland Islands dispute with the UK
3.1.3Defense expenditure as a percentage of GDP to reach to 1.3% by 2015
3.2Analysis of Defense Budget Allocation
3.2.1Capital expenditure allocation expected to increase during the forecast period
3.2.2Capital expenditure expected to register a CAGR of 45.32% during the forecast period
3.2.3The army accounted for the largest share of the defense budget during the review period
3.2.4Navy budget expected to increase at a CAGR of 15.50% during the forecast period
3.2.5Army expenditure to cumulatively total US$8.6 billion during the forecast period
3.2.6Air force expenditure to reach US$1364.9 million by 2015
3.3Homeland Security Market Size and Forecast
3.3.1Homeland security market expected to grow with the creation of a new ministry dedicated to homeland security
3.3.2Increasing poverty, illegal immigration and organized crime drives homeland security expenditure
3.3.3Argentina faces a low risk of terror attacks
3.4Benchmarking with Key Global Markets
3.4.1Argentine defense budget expected to increase at a CAGR of 15.87%, higher than Brazil and the UK
3.4.2Argentine defense expenditure is the lowest in South America
3.4.3Argentina’s defense budget as a percentage of GDP to increase
3.5Market Opportunities: Key Trends and Growth Stimulators
3.5.1Navy to acquire Off-shore patrol vessels, transport ships and nuclear submarines
3.5.2Argentine air force to procure fighter aircraft, transport aircraft and helicopters and upgrade its fleet of helicopters and military aircraft
3.5.3Army to be equipped with advanced multi-purpose vehicles and C3I systems
4Defense Procurement Market Dynamics
4.1Import Market Dynamics
4.1.1Defense imports expected to increase during the forecast period
4.1.2The US is a major arms supplier to Argentina
4.1.3Aircraft and sensors constitute a majority of Argentine arms imports
4.2Export Market Dynamics
4.2.1Argentina has negligible arms exports
5Industry Dynamics
5.1Five Forces Analysis
5.1.1Bargaining power of supplier: low
5.1.2Bargaining power of buyer: high
5.1.3Barrier to entry: medium
5.1.4Intensity of rivalry: low to high
5.1.5Threat of substitution: high
6Market Entry Strategy
6.1Market Regulation
6.1.1Offset policy aids development of domestic defense industry
6.1.2Open foreign direct investment policy
6.2Market Entry Route
6.2.1FMS is an effective entry route for foreign defense companies
6.2.2Technology transfers and partnerships encouraged by offset policy
6.2.3Argentine defense industry open to foreign investment
6.3Key Challenges
6.3.1Defense budget fluctuations challenging the domestic defense industry
7Competitive Landscape and Strategic Insights
7.1Competitive Landscape Overview
7.2Key Public sector companies
7.2.1Fábrica Argentina de Aviones: overview
7.2.2Fábrica Argentina de Aviones: defense products
7.2.3Fábrica Argentina de Aviones: recent announcements and strategic initiatives
7.2.4Fábrica Argentina de Aviones: alliances
7.2.5Fábrica Argentina de Aviones: recent contract wins
7.2.6Fábrica Argentina de Aviones: financial analysis
7.2.7Astillero Río Santiago: overview
7.2.8Astillero Río Santiago: products and services
7.2.9Astillero Río Santiago: recent announcements and strategic initiatives
7.2.10Astillero Río Santiago: alliances
7.2.11Astillero Río Santiago: recent contract wins
7.2.12Astillero Río Santiago: financial analysis
7.2.13Citedef: overview
7.2.14Citedef: products and services
7.2.15Citedef: recent announcements and strategic initiatives
7.2.16Citedef: alliances
7.2.17Citedef: recent contract wins
7.2.18Citedef: financial analysis
7.2.19Tandanor: overview
7.2.20Tandanor: products and services
7.2.21Tandanor: recent announcements and strategic initiatives
7.2.22Tandanor: alliances
7.2.23Tandanor: recent contract wins
7.2.24Tandanor: financial analysis
7.2.25Dirección General de Fabricaciones Militares: overview
7.2.26Dirección General de Fabricaciones Militares: defense products
7.2.27Dirección General de Fabricaciones Militares: recent announcements and strategic initiatives
7.2.28Dirección General de Fabricaciones Militares: alliances
7.2.29Dirección General de Fabricaciones Militares: recent contract wins
7.2.30Dirección General de Fabricaciones Militares: financial analysis
7.2.31INVAP SE: overview
7.2.32INVAP SE: defense products
7.2.33INVAP S.E.: recent announcements and strategic initiatives
7.2.34INVAP S.E.: alliances
7.2.35INVAP S.E.: recent contract wins
7.2.36INVAP S.E.: financial analysis
7.2.37Nostromo Defensa SA: overview
7.2.38Nostromo Defensa SA: products and services
7.2.39Nostromo Defensa SA: recent announcements and strategic initiatives
7.2.40Nostromo Defensa SA: alliances
7.2.41Nostromo Defensa SA: recent contract wins
7.2.42Nostromo Defensa SA: financial analysis
8Business Environment and Country Risk
8.1Business Confidence
8.1.1Market capitalization trend – the Buenos Aries stock exchange, Argentina
8.1.2FDI inflows
8.1.3Deployment of credit by sector
8.2Economic Performance
8.2.1GDP at constant prices
8.2.2GDP per capita at constant prices
8.2.3GDP at current prices
8.2.4GDP per capita at current prices
8.2.5GDP split by key sectors
8.2.6Agricultural net output at current prices (Argentine peso)
8.2.7Agricultural net output at current prices (US dollars)
8.2.8Agricultural net output at current prices as percentage of GDP
8.2.9Manufacturing net output at current prices (Argentine peso)
8.2.10Manufacturing net output at current prices (US dollars)
8.2.11Manufacturing net output at current prices as percentage of GDP
8.2.12Mining, manufacturing and utilities net output at current prices (Argentine peso)
8.2.13Mining, manufacturing and utilities at current prices (US dollars)
8.2.14Mining, manufacturing and utilities at current prices, as percentage of GDP
8.2.15Construction net output at current prices, (Argentine peso)
8.2.16Construction net output at current prices (US dollar)
8.2.17Construction net output at current prices as a percentage of GDP
8.2.18Crude steel production
8.2.19Crude oil consumption
8.2.20Inflation rate
8.2.21Current account balance as a percentage of GDP
8.2.22Exports as a percentage of GDP
8.2.23Imports as a percentage of GDP
8.2.24Exports growth
8.2.25Imports growth
8.2.26External debt as a percentage of GDP
8.2.27Annual average exchange rate US$–ARS
8.2.28End of the period exchange rate US$–ARS
8.3Infrastructure Quality and Availability
8.3.1Total airports and seaports
8.3.2Railways and roadways system
8.3.3Passenger vehicle production trend
8.3.4Commercial vehicle production trend
8.3.5Automotive components export trend
8.3.6Automotive products import trend
8.3.7Passenger vehicle export trend
8.3.8Commercial vehicle export trend
8.3.9Total installed capacity for electricity generation
8.3.10Installed capacity for conventional thermal electricity generation
8.3.11Electricity production
8.3.12Electric power consumption
8.3.13Installed capacity for hydro-electricity generation
8.3.14Installed capacity for renewable electricity generation
8.3.15Electricity exports
8.3.16Electricity imports
8.3.17Healthcare expenditure
8.3.18Healthcare expenditure as a percentage of GDP
8.3.19Healthcare expenditure per capita
8.3.20R&D expenditure as a percentage of GDP
8.3.21Total internet subscribers
8.3.22Broadband internet subscribers
8.3.23Personal computer penetration
8.3.24Mobile phone penetration rate
8.4Labor Force
8.4.1Labor force
8.4.2Unemployment rate
8.5Demographics
8.5.1Annual disposable income
8.5.2Annual per capita disposable income
8.5.3Annual consumer expenditure on food
8.5.4Annual per capita consumer expenditure on food
8.5.5Total population
8.5.6Urban and rural population
8.5.7Females as percentage of population
8.5.8Males as percentage of population
8.5.9Mean age of population
8.5.10Median age of population
8.5.11Population density
8.5.12Age distribution of the total population
8.5.13Age distribution of the male population
8.5.14Age distribution of the female population
8.5.15Number of households
8.6Political and Social Risk
8.6.1Political stability
8.6.2Terrorism index
8.6.3Transparency index
9Appendix
9.1Contact Us
9.2About ICD Research
9.3Disclaimer

List of Tables
Table 1: ICD Research Intelligence Terrorism Index
Table 2: Offset Regulations in Argentina
Table 3: Fábrica Argentina de Aviones – Alliances
Table 4: Fábrica Argentina de Aviones - Recent Contract Wins
Table 5: Astillero Río Santiago – Alliances
Table 6: Tandanor – Recent Contract Wins
Table 7: DGFM – Alliances
Table 8: INVAP S.E. – Alliances
Table 9: Nostromo Defensa SA – Recent Contract Wins

List of Figures
Figure 1: Argentine Defense Market Size and Forecast (US$ Billion), 2006–15
Figure 2: Argentine Defense Expenditure as a Percentage of GDP (%), 2006–15
Figure 3: Argentine Defense Expenditure Allocation for Revenue and Capital Expenditure (%), 2006–15
Figure 4: Argentine Defense Capital Expenditure (US$ Million), 2006–15
Figure 5: Argentine Defense Budget Allocation (%), 2006–15
Figure 6: Argentine Defense Budget Allocation for Naval Expenditure (US$ Million), 2006–15
Figure 7: Argentine Defense Budget Allocation for Army Expenditure (US$ Million), 2006–15
Figure 8: Argentine Defense Budget Allocation for Air Force Expenditure (US$ Million), 2006–15
Figure 9: Argentine Homeland Security Expenditure (US$ Million), 2006–15
Figure 10: ICD Research Intelligence Terrorism Heat Map, 2010
Figure 11: ICD Research Intelligence Terrorism Index, 2010
Figure 12: Benchmarking with Key Global Markets – Historical vs. Expected Defense Budget Growth
Figure 13: Defense Expenditure of the Largest Military Spenders in the World (US$ billion), 2010 and 2015
Figure 14: Defense Expenditure as a percentage of GDP of Largest Military Spenders (%), 2010
Figure 15: Argentine Defense Imports (US$ million), 2006–09
Figure 16: Argentine Defense Imports by Country (%), 2006–09
Figure 17: Argentine Defense Imports by Category, 2006–09
Figure 18: Industry Dynamics - Porter’s Five Forces Analysis
Figure 19: The Buenos Aries Stock Exchange Market Capitalization (US$ Billion), 2003–09
Figure 20: Argentine FDI Inflows (US$ Billion), 2003–09
Figure 21: Argentine Deployment of Credit by sector (US$ Billion), 2003–09
Figure 22: Argentine GDP Value at Constant Prices (US$ Billion), 2003–15
Figure 23: Argentine GDP Per Capita at Constant Prices (US$), 2003–15
Figure 24: Argentine GDP at Current Prices (US$ Billion), 2003–15
Figure 25: Argentine GDP Per Capita at Current Prices (US$), 2003–15
Figure 26: Argentine GDP Split by Key Sectors (%), 2003 and 2009
Figure 27: Argentine Agricultural Net Output at Current Prices (ARS Billion), 2003–15
Figure 28: Argentine Agricultural Net Output at Current Prices (US$ Billion), 2003–15
Figure 29: Argentine Agricultural Net Output at Current Prices as a Percentage of GDP (%), 2003–15
Figure 30: Argentine Manufacturing Net Output at Current Prices (ARS Billion), 2003–15
Figure 31: Argentine Manufacturing Net Output at Current Prices (US$ Billion), 2003–15
Figure 32: Argentine Manufacturing Net Output at Current Prices as a Percentage of GDP(%), 2003–15
Figure 33: Argentine Mining, Manufacturing and Utilities Net Output, at Current Prices (ARS Billion), 2003–15
Figure 34: Argentine Mining, Manufacturing and Utilities Output, at Current Prices (US$ Billion), 2003–15
Figure 35: Argentine Mining, Manufacturing and Utilities Output, at Current Prices as a Percentage of GDP(%), 2003–15
Figure 36: Argentine Construction Net Output, at Current Prices (ARS Billion), 2003–15
Figure 37: Argentine Construction Net Output, at Current Prices (US$ Billion), 2003–15
Figure 38: Argentine Construction Output, at Current Prices as a Percentage of GDP(%), 2003–15
Figure 39: Argentine Crude Steel Production (Million Metric Tons), 2003–15
Figure 40: Argentine Crude Oil Consumption (Million Tons), 2003–15
Figure 41: Argentine Inflation Rate (%), 2003–15
Figure 42: Argentine Current Account Balance as a percentage of GDP (%), 2003–2009
Figure 43: Argentine Exports as a Percentage of GDP (%), 2003–15
Figure 44: Argentine Imports as a Percentage of GDP (%), 2003–15
Figure 45: Argentine Exports Growth (%), 2003–15
Figure 46: Argentine Imports Growth (%), 2003–15
Figure 47: Argentine External Debt as a Percentage of GDP (%) 2003–09
Figure 48: Argentine Annual Average Exchange Rate US$–ARS, 2003–09
Figure 49: Argentine end of the period Exchange Rate US$–ARS, 2003–09
Figure 50: Argentine Airports and Ports (Number of), 2009
Figure 51: Argentine Railways and Roadways (Kilometers), 2009
Figure 52: Argentine Passenger Vehicle Production (Units), 2003–15
Figure 53: Argentine Commercial Vehicle Production (Units), 2003–15
Figure 54: Argentine Automotive Components Exports (US$ Million), 2003–15
Figure 55: Argentine Automotive Components Imports (US$ Million), 2003–15
Figure 56: Argentine Passenger Vehicle Export (Units), 2003–15
Figure 57: Argentine Commercial Vehicle Export (Units), 2003–15
Figure 58: Argentine Total Installed Capacity for Electricity Generation (Million Kilowatts), 2003–15
Figure 59: Argentine Installed Capacity for Conventional Thermal Electricity Generation (Million Kilowatts), 2003–15
Figure 60: Argentine Electricity Production (Billion Kilowatt Hours), 2003–15
Figure 61: Argentine Electric Power Consumption (Billion Kilowatt Hours), 2003–15
Figure 62: Argentine Installed Capacity for Hydro-electricity Generation (Million Kilowatts), 2003–15
Figure 63: Argentine Installed Capacity for Renewable Electricity Generation (Million Kilowatts) , 2003–15
Figure 64: Argentine Electricity Exports (Billion Kilowatt Hours), 2003–15
Figure 65: Argentine Electricity Imports (Billion Kilowatt Hours), 2003–15
Figure 66: Argentine Healthcare Expenditure (US$ Billion), 2003–15
Figure 67: Argentine Healthcare Expenditure as a percentage of GDP (%), 2003–15
Figure 68: Argentine Per Capita Healthcare Expenditure (US$), 2003–15
Figure 69: Argentine R&D Expenditure as a Percentage of GDP (%), 2003–15
Figure 70: Argentine Internet Subscribers (Million), 2003–15
Figure 71: Argentine Broadband Internet Subscribers (Million), 2003–15
Figure 72: Argentine Personal Computer Usage (per 100 people) , 2003–15
Figure 73: Argentine Mobile Phone Penetration per 100 people (%), 2003–15
Figure 74: Argentine Size of Labor Force in 15–59 Age Group (Million), 2003–15
Figure 75: Argentine Unemployment Rate (%), 2003–15
Figure 76: Argentine Annual Disposable Income (US$ Billion), 2003–15
Figure 77: Argentine Annual Per Capita Disposable Income (%), 2003–15
Figure 78: Argentine Consumer Expenditure on Food (US$ Billion), 2003–15
Figure 79: Argentine Annual Per Capita Consumer Expenditure on Food, 2003–15
Figure 80: Argentine Total Population (Million), 2003–15
Figure 81: Argentine Urban and Rural Population (%), 2003–15
Figure 82: Argentine Female as Percentage of Population (%), 2003–15
Figure 83: Argentine Males as a Percentage of Population (%), 2003–15
Figure 84: Argentine Mean Age of Population (Years), 2003–15
Figure 85: Argentine Median Age of Population (Years), 2003–15
Figure 86: Argentine Population Density (Per Square Kilometer) 2003–15
Figure 87: Argentine Population Age Distribution (%), 2003–15
Figure 88: Argentine Male Population Age Distribution (%), 2003–15
Figure 89: Argentine Female Population Age Distribution (%), 2003–15
Figure 90: Argentine Number of Households (Million), 2003–15
Figure 91: Global Terrorism Heat Map, 2009
Figure 92: Argentine Transparency Index, 2003–2009

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