New Market Report: Hungary Defence & Security Report 2015

New Defense research report from Business Monitor International is now available from Fast Market Research

[ClickPress, Mon Dec 15 2014] Hungary acknowledges that its geographical position in Central Europe, bordering the Ukraine as well as the Balkans, presents some threats, as well as opportunities. Stability in Central and Eastern Europe and South East Europe, remains the top priority for Hungarian foreign and security policy.

Similar to other Eastern European countries, Hungary has had to deal with a significant transformation of its defence industry as a result of its post-Cold War democratic transition. Some companies such as Danubian Aircraft have been successful in this transformation. It has managed not only to recover from bankruptcy of its parent company PVG but also to participate in the operation of upgrading 14 Gripen and other aircraft for the Hungarian Air Force.

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The armed forces suffer from budgetary constraints. Nevertheless, the ministry of defence plans to strengthen and boost the armed forces by means of relying more on reservists. The country sees reservists as a useful fall-back for a cash-striped military and as a useful pool of skills on which to draw.

We have given Hungary an overall security risk index of 85 out of 100 for 2015. Hungary has a low risk of becoming involved in a major interstate conflict. The country is also judged to have a low risk of experiencing a major terrorist attack, although its susceptibility to major criminal activity remains moderate.

Recent Developments

* In August 2014, Hungary signed a contract with MBDA to upgrade the country's Mistral-2 short-range air defence system. The programme will see the overhaul of the Mistral-2 surface-to-air missiles used by the country, and the missile's fire control system.
* In April 2014, Hungary purchased three Mil Mi-8 medium-lift utility helicopters which are expected to be delivered to its air force in 2016. In addition, the country is expected to spend up to USD470mn in coming years procuring new transport aircraft

Key BMI Forecasts

* Hungary's defence expenditure is expected to fall to...

The Hungary 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 Hungary Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Hungarian defence and security industry.

Key Benefits

* Benchmark BMI's independent defence and security industry forecasts on Hungary to test other views - a key input for successful budgetary and strategic business planning in the Hungarian defence and security market.

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