Product Synopsis
This report is the result of SDI's extensive market and company research covering the Romanian defense industry. It provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Romanian defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017, offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Romanian defense industry.
What is the current market landscape and what is changing?
During the review period, the Romanian defense budget recorded a CAGR of -16.08%, as a consequence of the global financial crisis and fiscal pressures in Romania. The defense budget, which stands at 0.8% of GDP in 2012, is expected to decrease to 0.7% by 2017, as the country's GDP growth rate is expected to outpace its defense expenditure growth rate. However, the defense budget is expected to increase during the forecast period due to economic recovery, relatively higher budget allocation for defense, and a lack of significant security threats to national security. During the review period, the country's capital expenditure allocation stood at 14.7% of the total defense budget and is expected to increase to 18.5% over the forecast period, due to lower equipment purchase allocations. Consequently, the share of revenue expenditure of the total defense budget is expected to decline from an average of 85.3% during the review period to an average of 82.6% during the forecast period.
What are the key drivers behind recent market changes?
Participation in peacekeeping missions, joint operations and border control measures will support defense expenditure. The defense expenditure of Romania is primarily driven by the country's participation in various international peacekeeping missions, joint operations with the police force for the internal security of the country, and modernization of the armed forces, primarily by acquiring second-hand equipment. Romania actively participates in various peacekeeping missions around the world. In 2011, Romania participated in NATO's Operation Unified Protector and imposed an arms embargo towards Libya, which contributed towards its liberation from the Gaddafi government. Romania has increased its border control during 2011 in a bid to gain entry to the Schengen area. Romanian police and anticorruption prosecutors raided custom checkpoints to demonstrate to the EU that Romania is making its border firm and attempting to stop illegal immigration.
What makes this report unique and essential to read?
The Romanian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017provides detailed analysis of the current industry size and growth expectations from 2013to 2017, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2013to 2017, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Romanian defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in Romania. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
Following the global financial crisis, the Romanian economy went in to a deep recession in 2008 jeopardizing the growth it had witnessed in earlier years. The crisis led the government to take various unpopular austerity measures including public sector restructuring, spending cuts for the interior and defense ministries, and expenditure cuts, including a 25% cut in public wages and 15% drop in pension and social benefits in the 2010 budget. This resulted in a lower allocation for defense equipment acquisition, making market entry unviable for foreign defense companies. However, the economy posted growth in GDP in 2011 and is expected to emerge from recession by the end of 2012.
Eastern European countries, including Romania, have historically featured high levels of corruption. After gaining membership in the EU and NATO, Romania introduced important economic and legislative measures to attract foreign capital, and adopted legislation to reduce corruption. For instance, legislation requiring politicians to disclose information about their assets, a law governing conflicts of interest for government officials, and a law regulating the financing of political parties. This has resulted in a drop in the level of corruption in the country. However, rampant corruption led to a 2010 EU report criticizing Romania for undermining its own anti-corruption force, the National Integrity Agency (ANI), set up to examine political conflicts of interest and investigate citizens with unexplained wealth.
The Romanian market was for a considerable period the largest manufacturer of AK-47 rifles. However, Romania's arms exports have been dwindling since the early 1990s as Russia has a huge influence over Asia-Pacific and European countries when it comes to the arms market. Furthermore, China has provided intense competition to Russia, resulting in a clear loss of market for Romania.
Key Highlights
Romanian defense expenditure, which stand sat US$1.6 billion in 2012, registered a CAGR of -16.08% during the review period. The country's defense expenditure is expected to register a CAGR of 6.84% during the forecast period and reach US$2.1 billion by 2017. The country's cumulative defense expenditure over the forecast period is expected to total US$9billion, of which US$7.4 billion is expected to be allocated for revenue expenditure, while the remaining US$1.6 billion is expected to be spent on equipment and infrastructure development costs. In 2012, the defense function budget stand sat US$1.5 billion, and recorded CAGR of -16.08% during the review period. However, expenditure is estimated to grow at a CAGR of 6.84% during the forecast period, to reach US$2.1 billion by 2017. The national security and public order budget of the country, which stand sat US$0.12 Billion in 2012, recorded a CAGR of -39.07% during the review period.
The country's homeland security cumulative budget stood at US$15.5 billion during the review period; however, this is estimated to decline to US$10.1 billion during the forecast period in line with reduced defense expenditure. The country's homeland security budget is expected to be driven by the policing of human trafficking, smuggling, and cybercrime. Romania faces illegal immigration along its border areas with neighboring Ukraine and Moldova. The danger of weapons and drug smuggling from Transnistria, a small breakaway republic from Moldova, makes the country's border security particularly challenging. In order to counter the threats posed by these criminal activities, the country needs to invest in surveillance and intelligence technologies such as electronic identification documents, e-passports, automated border crossing systems, and CCTV systems.
Due to defense budget cuts announced by the government as a consequence of the recession, imports of defense equipment declined in 2008 and 2009. However, defense imports increased significantly in 2010, mainly due to the MoND's decision to modernize its armed forces and provide its military forces engaged in peacekeeping operations with additional protection. Since Romania plans to increase its budget allocation for the acquisition of defense equipment, imports of defense equipment are likely to increase.
This report is the result of SDI's extensive market and company research covering the Romanian defense industry. It provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Romanian defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017, offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Romanian defense industry.
What is the current market landscape and what is changing?
During the review period, the Romanian defense budget recorded a CAGR of -16.08%, as a consequence of the global financial crisis and fiscal pressures in Romania. The defense budget, which stands at 0.8% of GDP in 2012, is expected to decrease to 0.7% by 2017, as the country's GDP growth rate is expected to outpace its defense expenditure growth rate. However, the defense budget is expected to increase during the forecast period due to economic recovery, relatively higher budget allocation for defense, and a lack of significant security threats to national security. During the review period, the country's capital expenditure allocation stood at 14.7% of the total defense budget and is expected to increase to 18.5% over the forecast period, due to lower equipment purchase allocations. Consequently, the share of revenue expenditure of the total defense budget is expected to decline from an average of 85.3% during the review period to an average of 82.6% during the forecast period.
What are the key drivers behind recent market changes?
Participation in peacekeeping missions, joint operations and border control measures will support defense expenditure. The defense expenditure of Romania is primarily driven by the country's participation in various international peacekeeping missions, joint operations with the police force for the internal security of the country, and modernization of the armed forces, primarily by acquiring second-hand equipment. Romania actively participates in various peacekeeping missions around the world. In 2011, Romania participated in NATO's Operation Unified Protector and imposed an arms embargo towards Libya, which contributed towards its liberation from the Gaddafi government. Romania has increased its border control during 2011 in a bid to gain entry to the Schengen area. Romanian police and anticorruption prosecutors raided custom checkpoints to demonstrate to the EU that Romania is making its border firm and attempting to stop illegal immigration.
What makes this report unique and essential to read?
The Romanian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017provides detailed analysis of the current industry size and growth expectations from 2013to 2017, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2013to 2017, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Romanian defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in Romania. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
Following the global financial crisis, the Romanian economy went in to a deep recession in 2008 jeopardizing the growth it had witnessed in earlier years. The crisis led the government to take various unpopular austerity measures including public sector restructuring, spending cuts for the interior and defense ministries, and expenditure cuts, including a 25% cut in public wages and 15% drop in pension and social benefits in the 2010 budget. This resulted in a lower allocation for defense equipment acquisition, making market entry unviable for foreign defense companies. However, the economy posted growth in GDP in 2011 and is expected to emerge from recession by the end of 2012.
Eastern European countries, including Romania, have historically featured high levels of corruption. After gaining membership in the EU and NATO, Romania introduced important economic and legislative measures to attract foreign capital, and adopted legislation to reduce corruption. For instance, legislation requiring politicians to disclose information about their assets, a law governing conflicts of interest for government officials, and a law regulating the financing of political parties. This has resulted in a drop in the level of corruption in the country. However, rampant corruption led to a 2010 EU report criticizing Romania for undermining its own anti-corruption force, the National Integrity Agency (ANI), set up to examine political conflicts of interest and investigate citizens with unexplained wealth.
The Romanian market was for a considerable period the largest manufacturer of AK-47 rifles. However, Romania's arms exports have been dwindling since the early 1990s as Russia has a huge influence over Asia-Pacific and European countries when it comes to the arms market. Furthermore, China has provided intense competition to Russia, resulting in a clear loss of market for Romania.
Key Highlights
Romanian defense expenditure, which stand sat US$1.6 billion in 2012, registered a CAGR of -16.08% during the review period. The country's defense expenditure is expected to register a CAGR of 6.84% during the forecast period and reach US$2.1 billion by 2017. The country's cumulative defense expenditure over the forecast period is expected to total US$9billion, of which US$7.4 billion is expected to be allocated for revenue expenditure, while the remaining US$1.6 billion is expected to be spent on equipment and infrastructure development costs. In 2012, the defense function budget stand sat US$1.5 billion, and recorded CAGR of -16.08% during the review period. However, expenditure is estimated to grow at a CAGR of 6.84% during the forecast period, to reach US$2.1 billion by 2017. The national security and public order budget of the country, which stand sat US$0.12 Billion in 2012, recorded a CAGR of -39.07% during the review period.
The country's homeland security cumulative budget stood at US$15.5 billion during the review period; however, this is estimated to decline to US$10.1 billion during the forecast period in line with reduced defense expenditure. The country's homeland security budget is expected to be driven by the policing of human trafficking, smuggling, and cybercrime. Romania faces illegal immigration along its border areas with neighboring Ukraine and Moldova. The danger of weapons and drug smuggling from Transnistria, a small breakaway republic from Moldova, makes the country's border security particularly challenging. In order to counter the threats posed by these criminal activities, the country needs to invest in surveillance and intelligence technologies such as electronic identification documents, e-passports, automated border crossing systems, and CCTV systems.
Due to defense budget cuts announced by the government as a consequence of the recession, imports of defense equipment declined in 2008 and 2009. However, defense imports increased significantly in 2010, mainly due to the MoND's decision to modernize its armed forces and provide its military forces engaged in peacekeeping operations with additional protection. Since Romania plans to increase its budget allocation for the acquisition of defense equipment, imports of defense equipment are likely to increase.
1 INTRODUCTION
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence (www.strategicdefenceintelligence.com)
2 EXECUTIVE SUMMARY
3 MARKET ATTRACTIVENESS AND EMERGING OPPORTUNITIES
3.1. Defense Market Size Historical and Forecast
3.1.1. Romanian defense expenditure expected to register growth during the forecast period
3.1.2. Participation in peacekeeping missions, joint operations and border control measures will support defense expenditure
3.2. Analysis of Defense Budget Allocation
3.2.1. Capital expenditure allocation expected to increase during the forecast period
3.2.2. Capital expenditure to register positive CAGR growth during the forecast period
3.2.3. Defense budget as a percentage of GDP expected to decrease during the forecast period
3.2.4. Defense related expenditure to grow with positive CAGR during the forecast period
3.2.5. Expenditure on national security to register growth during the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security budget projected to decline during the forecast period
3.3.2. Capital expenditure is expected to witness growth during forecast period
3.3.3. Restructuring organizations and illegal immigration to drive homeland security budget
3.3.4. Romania considered at 'some risk' of terrorist attack
3.3.5. Romania experienced some risk of terror activity during the review period
3.4. Benchmarking with Key Global Markets
3.4.1. The country is expected to remain a small player in the international defense market
3.4.2. Romanian military expenditure is modest compared to countries with the largest defense expenditure
3.4.3. The country allocates a lower percentage of GDP towards defense than other NATO members
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Acquisition of advanced training technologies is expected during forecast period
3.5.2. Military transport aircraft expected to create new market opportunities
3.5.3. Demand for armored personnel carriers to increase
3.5.4. F-16 Fighting Falcons will provide attractive market opportunities
3.5.5.Demand for unmanned aerial vehicles (UAVs) is expected to surge over the forecast period
4 DEFENSE PROCUREMENT MARKET DYNAMICS
4.1. Import Market Dynamics
4.1.1. Lack of advanced technology drives imports
4.1.2. Defense imports expected to be higher during the forecast period
4.1.3. The US, Germany and Italy account for the majority of the country's defense imports
4.1.4. Air defense systems, sensors and aircraft are the largest imported military hardware
4.2. Export Market Dynamics
4.2.1. Defense exports registered a decline during the review period
4.2.2. The UAE is the largest importer of Romanian arms
4.2.3. Aircraft and aircraft parts account for significant portion of exports
5 INDUSTRY DYNAMICS
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low to medium
5.1.2. Bargaining power of buyer: high
5.1.3. Barrier to entry: medium
5.1.4. Intensity of rivalry: medium to high
5.1.5. Threat of substitution: low to high
6 MARKET ENTRY STRATEGY
6.1. Market Regulation
6.1.1. Offset policy mandates suppliers invest a minimum of 80% of the contract value into the Romanian economy
6.1.2. Romania allows XX% foreign direct investment in defense sector
6.2. Market Entry Route
6.2.1. Foreign defense OEMs enter the market through acquisitions and alliances
6.2.2. EDA promotes defense procurements within EU
6.3. Key Challenges
6.3.1. Defense budget cuts impede the growth of defense industry
6.3.2. Rampant corruption and inadequate legal infrastructure
6.3.3. Foreign competition hampers the domestic defense industry
7 COMPETITIVE LANDSCAPE AND STRATEGIC INSIGHTS
7.1. Competitive Landscape Overview
7.2. Key Domestic Companies
7.2.1. CN Romarm SA: overview
7.2.2. CN Romarm SA: products and services
7.2.3. CN Romarm SA: recent announcements and strategic initiatives
7.2.4. CN Romarm SA: alliances
7.2.5. CN Romarm SA: recent contract wins
7.2.6. S.C. Uzina Mecanica Cugir S.A.: overview
7.2.7. S.C. Uzina Mecanica Cugir S.A.: products and services
7.2.8. S.C. Uzina Mecanica Cugir S.A.: recent announcements and strategic initiatives
7.2.9. Aerostar S.A.: overview
7.2.10. Aerostar S.A.: products and services
7.2.11. Aerostar S.A.: recent announcements and strategic initiatives
7.2.12. Aerostar S.A.: alliances
7.2.13. Aerostar S.A.: recent contract wins
7.2.14. Aerostar S.A.: financial analysis
7.2.15. IAR S.A. Brasov: overview
7.2.16. IAR S.A. Brasov: products and services
7.2.17. IAR S.A. Brasov: recent announcements and strategic initiatives
7.2.18. IAR S.A. Brasov: alliances
7.2.19. IAR S.A. Brasov: recent contract wins
7.2.20. IAR S.A. Brasov: financial analysis
7.2.21. Turbomecanica S.A. : overview
7.2.22. Turbomecanica S.A. : products and services
7.2.23. Turbomecanica S.A. : recent announcements and strategic initiatives
7.2.24. Turbomecanica S.A. : recent contract wins
7.2.25. Turbomecanica S.A.: financial analysis
7.2.26. Electromagnetica SA: overview
7.2.27. Electromagnetica SA: products and services
7.2.28. Electromagnetica SA: recent announcements and strategic initiatives
7.2.29. Avioane Craiova S.A: overview
7.2.30. Avioane Craiova S.A: products and services
7.2.31. Avioane Craiova S.A: recent announcements and strategic initiatives
7.2.32. Avioane Craiova S.A: alliances
7.2.33. Avioane Craiova S.A: recent contract wins
7.2.34. Elprof S.A.: overview
7.2.35. Elprof S.A.: products and services
7.2.36. Elprof S.A.: recent announcements and strategic initiatives
7.2.37. Elprof S.A.: alliances
7.2.38. Elprof S.A.: recent contract wins
7.2.39. IOR S.A.: overview
7.2.40. IOR S.A.: products and services
7.2.41. IOR S.A.: recent announcements and strategic initiatives
7.2.42. Simultec S.R.L.: overview
7.2.43. Simultec S.R.L.: products and services
7.2.44. Simultec S.R.L.: recent announcements and strategic initiatives
7.3. Key Foreign Companies
7.3.1. Intelcan Technosystems, Inc.: overview
7.3.2. Intelcan Technosystems, Inc.: products and services
7.3.3. Intelcan Technosystems, Inc.: recent announcements and strategic initiatives
7.3.4. Intelcan Technosystems, Inc.: recent contract wins
7.3.5. S.C. Eurocopter Romania SA: overview
7.3.6. S.C. Eurocopter Romania SA: products and services
7.3.7. S.C. Eurocopter Romania SA: recent contract wins
8 BUSINESS ENVIRONMENT AND COUNTRY RISK
8.1. Demographics and Social Statistics
8.1.1. Population - Female
8.1.2. Population - Male
8.2. Economic Performance
8.2.1. Construction Output, Current Prices, Local Currency
8.2.2. Construction Output, Current Prices, US Dollars
8.2.3. Current Account Balance as Percentage of GDP
8.2.4. Deposit Interest Rate
8.2.5. Exports of goods and services, current prices
8.2.6. Exports of Services
8.2.7. External debt as percentage of GDP (%)
8.2.8. Fiscal Balance as a percentage of GDP
8.2.9. Foreign Direct Investment
8.2.10. GDP at Purchasing Power Parity
8.2.11. GDP, Constant Prices (Local Currency)
8.2.12. GDP, Constant Prices (US$)
8.2.13. GDP, Current Prices (Local Currency)
8.2.14. GDP, Current Prices (US$)
8.2.15. General Government Final Consumption Expenditure
8.2.16. Gross Fixed Capital Formation, Current Prices
8.2.17. Imports of goods and services
8.2.18. Inflation, average consumer prices
8.2.19. Interest Rate (Lending)
8.2.20. Manufacturing Output, Current Prices (Local Currency Bn)
8.2.21. Manufacturing Output, Current Prices (US$ Billions)
8.2.22. US$- Exchange Rate (Annual Average)
8.2.23. Wholesale Price Index
8.3. Energy and Utilities
8.3.1. Crude Oil Distillation Capacity
8.3.2. Electricity Exports
8.3.3. Electricity Imports
8.3.4. Electricity Installed Capacity
8.3.5. Fossil Fuels Proved natural gas reserves
8.3.6. Fossil Fuels- Proved oil reserves
8.3.7. Hydroelectricity Installed Capacity
8.3.8. Natural Gas Consumption
8.3.9. Natural Gas Imports
8.3.10. Natural Gas Production
8.3.11. Net Conventional Thermal Electricity Generation
8.3.12. Net Geothermal, Solar, Wind, and Wood Electric Power Generation
8.3.13. Net Hydroelectric Power Generation
8.3.14. Nuclear Electricity Net Generation
8.3.15. Petroleum, Consumption
8.3.16. Petroleum, Production
8.4. Labour Force
8.4.1. People Employed in R and D
8.5. Minerals
8.5.1. Coal Consumption
8.5.2. Coal Production
8.6. Social and Political Risk
8.6.1. Political Stability Index
8.6.2. Transparency Index
8.7. Telecommunication
8.7.1. Fixed line calling cost local
8.7.2. Fixed line calling cost National
9 APPENDIX
9.1. Contact Us
9.2. About SDI
9.3. Disclaimer
LIST OF TABLES
Table 1: Romanian Defense Expenditure Splits, 2008-2012
Table 2: Romanian Defense Expenditure, 2013-2017
Table 3: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2008-2012
Table 4: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2017
Table 5: Romanian Defense Capital Expenditure (US$ billion), 2008-2012
Table 6: Romanian Defense Capital Expenditure (US$ billion), 2013-2017
Table 7: Romanian Defense Expenditure as Percentage of GDP, 2008-2012
Table 8: Romanian Defense Expenditure as a Percentage of GDP, 2013-2017
Table 9: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2008-2012
Table 10: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2013-2017
Table 11: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2008-2012
Table 12: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2013-2017
Table 13: Romanian Homeland Security Expenditure (US$ billion), 2008-2012
Table 14: Romanian Homeland Security Expenditure (US$ billion), 2013-2017
Table 15: Romanian Homeland Security Expenditure Breakdown (%), 2008-2012
Table 16: Romanian Homeland Security Expenditure Breakdown (%), 2013-2017
Table 17: SDI Terrorism Index, 2011
Table 18: Benchmarking with Key Markets - 2008-2012 vs. 2013-2017
Table 19: Offset Regulations in Romania
Table 20: CN Romarm SA - Product Focus
Table 21: CN Romarm SA - Alliances
Table 22: CN Romarm SA - Recent Contract Wins
Table 23: S.C. UZINA MECANICA CUGIR S.A. - Product Focus
Table 24: Aerostar S.A. - Product Focus
Table 25: Aerostar S.A. - Alliances
Table 26: Aerostar S.A. - Recent Contract wins
Table 27: IAR S.A. Brasov - Product Focus
Table 28: IAR S.A. Brasov - Alliances
Table 29: IAR S.A. Brasov - Recent Contract wins
Table 30: Turbomecanica S.A. - Product Focus
Table 31: Turbomecanica S.A. - Recent Contract Wins
Table 32: Electromagnetica SA - Product Focus
Table 33: Avioane Craiova S.A. - Product Focus
Table 34: Avioane Craiova S.A. - Alliances
Table 35: Avioane Craiova S.A. - Recent Contract wins
Table 36: Elprof S.A. - Product Focus
Table 37: Elprof S.A. - Alliances
Table 38: Elprof S.A. - Recent Contract Wins
Table 39: IOR S.A. - Product Focus
Table 40: Simultec S.R.L. - Product Focus
Table 41: Simultec S.R.L. - Recent Contract Wins
Table 42: Intelcan Technosystems, Inc. - Product Focus
Table 43: Intelcan Technosystems, Inc. - Recent Contract Wins
Table 44: S.C. Eurocopter Romania SA - Product Focus
Table 45: S.C. Eurocopter Romania SA - Recent Contract Wins
LIST OF FIGURES
Figure 1: Romanian Defense Expenditure Splits, 2008-2012
Figure 2: Romanian Defense Expenditure Splits (%), 2013-2017
Figure 3: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2008-2012
Figure 4: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2017
Figure 5: Romanian Defense Capital Expenditure (US$ billion), 2008-2012
Figure 6: Romanian Defense Capital Expenditure (US$ billion), 2013-2017
Figure 7: Romanian Defense Expenditure as a Percentage of GDP, 2008-2012
Figure 8: Romanian Defense Expenditure as a Percentage of GDP, 2013-2017
Figure 9: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2008-2012
Figure 10: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2013-2017
Figure 11: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2008-2012
Figure 12: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2013-2017
Figure 13: Romanian Homeland Security Expenditure (US$ billion), 2008-2012
Figure 14: Romanian Homeland Security Expenditure (US$ billion), 2013-2017
Figure 15: Romanian Homeland Security Expenditure Breakdown (%), 2008-2012
Figure 16: Romanian Homeland Security Expenditure Breakdown (%), 2013-2017
Figure 17: Strategic Defence Intelligence Terrorism Heat Map, 2011
Figure 18: Strategic Defence Intelligence Terrorism Heat Map, 2011
Figure 19: Benchmarking with Key Markets - 2008-2012 vs. 2013-2017
Figure 20: Defense Expenditure of Countries with the Largest Global Military Expenditure (US$ billion), 2012 and 2017
Figure 21: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2012
Figure 22: Romanian Defense Imports (US$ million), 2007-2011
Figure 23: Romanian Defense Imports by Country (US$ million), 2007-2011
Figure 24: Romanian Defense Imports by Category (%), 2007-2011
Figure 25: Romanian Defense Exports (US$ million), 2007-2011
Figure 26: Romanian Defense Exports by country (US$ million), 2007-2011
Figure 27: Romanian Defense Exports by category (%), 2007-2011
Figure 28: Industry Dynamics - Porter's Five Forces Analysis
Figure 29: Aerostar S.A.: Revenue Trend Analysis (million RON), 2007-2011
Figure 30: Aerostar S.A.: Operating Profit Trend Analysis (million RON), 2007-2011
Figure 31: Aerostar S.A.: Net Profit Trend Analysis (million RON), 2007-2011
Figure 32: IAR S.A. Brasov: Revenue Trend Analysis (million RON), 2007-2011
Figure 33: IAR S.A. Brasov: Operating Income Analysis (million RON), 2007-2011
Figure 34: IAR S.A. Brasov: Net Profit Trend Analysis (million RON), 2007-2011
Figure 35: Turbomecanica S.A.: Revenue Trend Analysis (million RON), 2007-2011
Figure 36: Turbomecanica S.A.:: Operating Profit Trend Analysis (million RON), 2007-2011
Figure 37: Romanian Population - Female (In Millions), 2008-2017
Figure 38: Romanian Population - Male (In Millions), 2008-2017
Figure 39: Romanian Construction Output, Current Prices, Local Currency (In Billions), 2001-2010
Figure 40: Romanian Construction Output, Current Prices, US Dollars (In Billions), 2001-2010
Figure 41: Romanian Current Account Balance as Percentage of GDP, 2008-2017
Figure 42: Romanian Deposit Interest Rate, 2001-2010
Figure 43: Romanian Exports of goods and services, current prices (US$ Billion), 2001-2010
Figure 44: Romanian Exports of Services (In Local Currency Billion), 2003-2012
Figure 45: Romanian External Debt as percentage of GDP (%), 2001-2010
Figure 46: Romanian Fiscal Balance as a percentage of GDP (%), 2002-2008
Figure 47: Romanian Foreign Direct Investment (US$ Billion), 2001-2010
Figure 48: Romanian GDP at Purchasing Power Parity (US$ Billion), 2006-2015
Figure 49: Romanian GDP at Constant Prices (Local Currency Billion), 2006-2015
Figure 50: Romanian GDP at Constant Prices (US$ Billion), 2006-2015
Figure 51: Romanian GDP at Current Prices (Local Currency Billion), 2006-2015
Figure 52: Romanian GDP at Current Prices (US$ Billion), 2006-2015
Figure 53: Romanian General Government Final Consumption Expenditure (US$ Billion), 2001-2010
Figure 54: Romanian Gross Fixed Capital Formation, Current Prices (US$ Billion), 2001-2010
Figure 55: Romanian Imports of goods and services (current US$ Billion), 2001-2010
Figure 56: Romanian Inflation, average consumer prices, 2008-2017
Figure 57: Romanian Lending Interest rate, 2001-2010
Figure 58: Romanian Manufacturing Output, Current Prices (Local Currency Billion), 2001-2010
Figure 59: Romanian Manufacturing Output, Current Prices (US$ Billion), 2001-2010
Figure 60: Romanian US$- Exchange Rate (Annual Average), 2002-2011
Figure 61: Romanian Wholesale Price Index, 2000-2009
Figure 62: Romanian Crude Oil Distillation Capacity (Thousand Barrels Per Cal Day), 2000-2009
Figure 63: Romanian Electricity Exports (Billion Kilowatt hours), 2001-2010
Figure 64: Romanian Electricity Imports (Billion Kilowatt hours), 2001-2010
Figure 65: Romanian Electricity Installed Capacity (Million Kilowatts), 2000-2009
Figure 66: Romanian Fossil Fuels Proved natural gas reserves (Trillion Cubic Feet), 2002-2011
Figure 67: Romanian Fossil Fuels- Proved oil reserves (Billion Barrels), 2002-2011
Figure 68: Romanian Hydroelectricity Installed Capacity (Million Kilowatts), 2000-2009
Figure 69: Romanian Natural Gas Consumption (Billion Cubic Feet), 2001-2010
Figure 70: Romanian Natural Gas Imports (Billion Cubic Feet), 2001-2010
Figure 71: Romanian Natural Gas Production (Billion Cubic Feet), 2001-2010
Figure 72: Romanian Net Conventional Thermal Electricity Generation (Billion Kilowatt hours), 2001-2010
Figure 73: Romanian Net Geothermal, Solar, Wind, and Wood Electric Power Generation (Billion Kilowatt hours), 2001-2010
Figure 74: Romanian Net Hydroelectric Power Generation (Billion Kilowatt hours), 2001-2010
Figure 75: Romanian Nuclear Electricity Net Generation (Billion Kilowatt hours), 2001-2010
Figure 76: Romanian Petroleum Consumption (Thousand Barrels Per Day), 2002-2011
Figure 77: Romanian Petroleum Production (Thousand Barrels Per Day), 2002-2011
Figure 78: Romanian People Employed in R and D (Number of researchers per million people, 2000-2009
Figure 79: Romanian Coal Consumption (Thousand Short Tons), 2001-2010
Figure 80: Romanian Coal Production (Thousand Short Tons), 2001-2010
Figure 81: Romanian Political Stability Index, 2002-2010
Figure 82: Romanian Transparency Index, 2002-2011
Figure 83: Romanian Fixed line calling cost local (Euro per 10 min call), 2001-2010
Figure 84: Romanian Fixed line calling cost National (Euro per 10 min call), 2001-2010
COMPANIES MENTIONED
CN Romarm SA, S.C. Uzina Mecanica Cugir S.A., Aerostar S.A., IAR S.A. Brasov, Turbomecanica S.A., Electromagnetica SA, Avioane Craiova S.A ,Elprof S.A ,IOR S.A
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence (www.strategicdefenceintelligence.com)
2 EXECUTIVE SUMMARY
3 MARKET ATTRACTIVENESS AND EMERGING OPPORTUNITIES
3.1. Defense Market Size Historical and Forecast
3.1.1. Romanian defense expenditure expected to register growth during the forecast period
3.1.2. Participation in peacekeeping missions, joint operations and border control measures will support defense expenditure
3.2. Analysis of Defense Budget Allocation
3.2.1. Capital expenditure allocation expected to increase during the forecast period
3.2.2. Capital expenditure to register positive CAGR growth during the forecast period
3.2.3. Defense budget as a percentage of GDP expected to decrease during the forecast period
3.2.4. Defense related expenditure to grow with positive CAGR during the forecast period
3.2.5. Expenditure on national security to register growth during the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security budget projected to decline during the forecast period
3.3.2. Capital expenditure is expected to witness growth during forecast period
3.3.3. Restructuring organizations and illegal immigration to drive homeland security budget
3.3.4. Romania considered at 'some risk' of terrorist attack
3.3.5. Romania experienced some risk of terror activity during the review period
3.4. Benchmarking with Key Global Markets
3.4.1. The country is expected to remain a small player in the international defense market
3.4.2. Romanian military expenditure is modest compared to countries with the largest defense expenditure
3.4.3. The country allocates a lower percentage of GDP towards defense than other NATO members
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Acquisition of advanced training technologies is expected during forecast period
3.5.2. Military transport aircraft expected to create new market opportunities
3.5.3. Demand for armored personnel carriers to increase
3.5.4. F-16 Fighting Falcons will provide attractive market opportunities
3.5.5.Demand for unmanned aerial vehicles (UAVs) is expected to surge over the forecast period
4 DEFENSE PROCUREMENT MARKET DYNAMICS
4.1. Import Market Dynamics
4.1.1. Lack of advanced technology drives imports
4.1.2. Defense imports expected to be higher during the forecast period
4.1.3. The US, Germany and Italy account for the majority of the country's defense imports
4.1.4. Air defense systems, sensors and aircraft are the largest imported military hardware
4.2. Export Market Dynamics
4.2.1. Defense exports registered a decline during the review period
4.2.2. The UAE is the largest importer of Romanian arms
4.2.3. Aircraft and aircraft parts account for significant portion of exports
5 INDUSTRY DYNAMICS
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low to medium
5.1.2. Bargaining power of buyer: high
5.1.3. Barrier to entry: medium
5.1.4. Intensity of rivalry: medium to high
5.1.5. Threat of substitution: low to high
6 MARKET ENTRY STRATEGY
6.1. Market Regulation
6.1.1. Offset policy mandates suppliers invest a minimum of 80% of the contract value into the Romanian economy
6.1.2. Romania allows XX% foreign direct investment in defense sector
6.2. Market Entry Route
6.2.1. Foreign defense OEMs enter the market through acquisitions and alliances
6.2.2. EDA promotes defense procurements within EU
6.3. Key Challenges
6.3.1. Defense budget cuts impede the growth of defense industry
6.3.2. Rampant corruption and inadequate legal infrastructure
6.3.3. Foreign competition hampers the domestic defense industry
7 COMPETITIVE LANDSCAPE AND STRATEGIC INSIGHTS
7.1. Competitive Landscape Overview
7.2. Key Domestic Companies
7.2.1. CN Romarm SA: overview
7.2.2. CN Romarm SA: products and services
7.2.3. CN Romarm SA: recent announcements and strategic initiatives
7.2.4. CN Romarm SA: alliances
7.2.5. CN Romarm SA: recent contract wins
7.2.6. S.C. Uzina Mecanica Cugir S.A.: overview
7.2.7. S.C. Uzina Mecanica Cugir S.A.: products and services
7.2.8. S.C. Uzina Mecanica Cugir S.A.: recent announcements and strategic initiatives
7.2.9. Aerostar S.A.: overview
7.2.10. Aerostar S.A.: products and services
7.2.11. Aerostar S.A.: recent announcements and strategic initiatives
7.2.12. Aerostar S.A.: alliances
7.2.13. Aerostar S.A.: recent contract wins
7.2.14. Aerostar S.A.: financial analysis
7.2.15. IAR S.A. Brasov: overview
7.2.16. IAR S.A. Brasov: products and services
7.2.17. IAR S.A. Brasov: recent announcements and strategic initiatives
7.2.18. IAR S.A. Brasov: alliances
7.2.19. IAR S.A. Brasov: recent contract wins
7.2.20. IAR S.A. Brasov: financial analysis
7.2.21. Turbomecanica S.A. : overview
7.2.22. Turbomecanica S.A. : products and services
7.2.23. Turbomecanica S.A. : recent announcements and strategic initiatives
7.2.24. Turbomecanica S.A. : recent contract wins
7.2.25. Turbomecanica S.A.: financial analysis
7.2.26. Electromagnetica SA: overview
7.2.27. Electromagnetica SA: products and services
7.2.28. Electromagnetica SA: recent announcements and strategic initiatives
7.2.29. Avioane Craiova S.A: overview
7.2.30. Avioane Craiova S.A: products and services
7.2.31. Avioane Craiova S.A: recent announcements and strategic initiatives
7.2.32. Avioane Craiova S.A: alliances
7.2.33. Avioane Craiova S.A: recent contract wins
7.2.34. Elprof S.A.: overview
7.2.35. Elprof S.A.: products and services
7.2.36. Elprof S.A.: recent announcements and strategic initiatives
7.2.37. Elprof S.A.: alliances
7.2.38. Elprof S.A.: recent contract wins
7.2.39. IOR S.A.: overview
7.2.40. IOR S.A.: products and services
7.2.41. IOR S.A.: recent announcements and strategic initiatives
7.2.42. Simultec S.R.L.: overview
7.2.43. Simultec S.R.L.: products and services
7.2.44. Simultec S.R.L.: recent announcements and strategic initiatives
7.3. Key Foreign Companies
7.3.1. Intelcan Technosystems, Inc.: overview
7.3.2. Intelcan Technosystems, Inc.: products and services
7.3.3. Intelcan Technosystems, Inc.: recent announcements and strategic initiatives
7.3.4. Intelcan Technosystems, Inc.: recent contract wins
7.3.5. S.C. Eurocopter Romania SA: overview
7.3.6. S.C. Eurocopter Romania SA: products and services
7.3.7. S.C. Eurocopter Romania SA: recent contract wins
8 BUSINESS ENVIRONMENT AND COUNTRY RISK
8.1. Demographics and Social Statistics
8.1.1. Population - Female
8.1.2. Population - Male
8.2. Economic Performance
8.2.1. Construction Output, Current Prices, Local Currency
8.2.2. Construction Output, Current Prices, US Dollars
8.2.3. Current Account Balance as Percentage of GDP
8.2.4. Deposit Interest Rate
8.2.5. Exports of goods and services, current prices
8.2.6. Exports of Services
8.2.7. External debt as percentage of GDP (%)
8.2.8. Fiscal Balance as a percentage of GDP
8.2.9. Foreign Direct Investment
8.2.10. GDP at Purchasing Power Parity
8.2.11. GDP, Constant Prices (Local Currency)
8.2.12. GDP, Constant Prices (US$)
8.2.13. GDP, Current Prices (Local Currency)
8.2.14. GDP, Current Prices (US$)
8.2.15. General Government Final Consumption Expenditure
8.2.16. Gross Fixed Capital Formation, Current Prices
8.2.17. Imports of goods and services
8.2.18. Inflation, average consumer prices
8.2.19. Interest Rate (Lending)
8.2.20. Manufacturing Output, Current Prices (Local Currency Bn)
8.2.21. Manufacturing Output, Current Prices (US$ Billions)
8.2.22. US$- Exchange Rate (Annual Average)
8.2.23. Wholesale Price Index
8.3. Energy and Utilities
8.3.1. Crude Oil Distillation Capacity
8.3.2. Electricity Exports
8.3.3. Electricity Imports
8.3.4. Electricity Installed Capacity
8.3.5. Fossil Fuels Proved natural gas reserves
8.3.6. Fossil Fuels- Proved oil reserves
8.3.7. Hydroelectricity Installed Capacity
8.3.8. Natural Gas Consumption
8.3.9. Natural Gas Imports
8.3.10. Natural Gas Production
8.3.11. Net Conventional Thermal Electricity Generation
8.3.12. Net Geothermal, Solar, Wind, and Wood Electric Power Generation
8.3.13. Net Hydroelectric Power Generation
8.3.14. Nuclear Electricity Net Generation
8.3.15. Petroleum, Consumption
8.3.16. Petroleum, Production
8.4. Labour Force
8.4.1. People Employed in R and D
8.5. Minerals
8.5.1. Coal Consumption
8.5.2. Coal Production
8.6. Social and Political Risk
8.6.1. Political Stability Index
8.6.2. Transparency Index
8.7. Telecommunication
8.7.1. Fixed line calling cost local
8.7.2. Fixed line calling cost National
9 APPENDIX
9.1. Contact Us
9.2. About SDI
9.3. Disclaimer
LIST OF TABLES
Table 1: Romanian Defense Expenditure Splits, 2008-2012
Table 2: Romanian Defense Expenditure, 2013-2017
Table 3: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2008-2012
Table 4: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2017
Table 5: Romanian Defense Capital Expenditure (US$ billion), 2008-2012
Table 6: Romanian Defense Capital Expenditure (US$ billion), 2013-2017
Table 7: Romanian Defense Expenditure as Percentage of GDP, 2008-2012
Table 8: Romanian Defense Expenditure as a Percentage of GDP, 2013-2017
Table 9: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2008-2012
Table 10: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2013-2017
Table 11: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2008-2012
Table 12: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2013-2017
Table 13: Romanian Homeland Security Expenditure (US$ billion), 2008-2012
Table 14: Romanian Homeland Security Expenditure (US$ billion), 2013-2017
Table 15: Romanian Homeland Security Expenditure Breakdown (%), 2008-2012
Table 16: Romanian Homeland Security Expenditure Breakdown (%), 2013-2017
Table 17: SDI Terrorism Index, 2011
Table 18: Benchmarking with Key Markets - 2008-2012 vs. 2013-2017
Table 19: Offset Regulations in Romania
Table 20: CN Romarm SA - Product Focus
Table 21: CN Romarm SA - Alliances
Table 22: CN Romarm SA - Recent Contract Wins
Table 23: S.C. UZINA MECANICA CUGIR S.A. - Product Focus
Table 24: Aerostar S.A. - Product Focus
Table 25: Aerostar S.A. - Alliances
Table 26: Aerostar S.A. - Recent Contract wins
Table 27: IAR S.A. Brasov - Product Focus
Table 28: IAR S.A. Brasov - Alliances
Table 29: IAR S.A. Brasov - Recent Contract wins
Table 30: Turbomecanica S.A. - Product Focus
Table 31: Turbomecanica S.A. - Recent Contract Wins
Table 32: Electromagnetica SA - Product Focus
Table 33: Avioane Craiova S.A. - Product Focus
Table 34: Avioane Craiova S.A. - Alliances
Table 35: Avioane Craiova S.A. - Recent Contract wins
Table 36: Elprof S.A. - Product Focus
Table 37: Elprof S.A. - Alliances
Table 38: Elprof S.A. - Recent Contract Wins
Table 39: IOR S.A. - Product Focus
Table 40: Simultec S.R.L. - Product Focus
Table 41: Simultec S.R.L. - Recent Contract Wins
Table 42: Intelcan Technosystems, Inc. - Product Focus
Table 43: Intelcan Technosystems, Inc. - Recent Contract Wins
Table 44: S.C. Eurocopter Romania SA - Product Focus
Table 45: S.C. Eurocopter Romania SA - Recent Contract Wins
LIST OF FIGURES
Figure 1: Romanian Defense Expenditure Splits, 2008-2012
Figure 2: Romanian Defense Expenditure Splits (%), 2013-2017
Figure 3: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2008-2012
Figure 4: Romanian Defense Budget Split Between Capital and Revenue Expenditure (%), 2013-2017
Figure 5: Romanian Defense Capital Expenditure (US$ billion), 2008-2012
Figure 6: Romanian Defense Capital Expenditure (US$ billion), 2013-2017
Figure 7: Romanian Defense Expenditure as a Percentage of GDP, 2008-2012
Figure 8: Romanian Defense Expenditure as a Percentage of GDP, 2013-2017
Figure 9: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2008-2012
Figure 10: Romanian Defense Related Expenditure as Percentage of Defense Budget, 2013-2017
Figure 11: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2008-2012
Figure 12: Romanian Defense Budget Allocation for National Security and Miscellaneous Expenditure (US$ billion), 2013-2017
Figure 13: Romanian Homeland Security Expenditure (US$ billion), 2008-2012
Figure 14: Romanian Homeland Security Expenditure (US$ billion), 2013-2017
Figure 15: Romanian Homeland Security Expenditure Breakdown (%), 2008-2012
Figure 16: Romanian Homeland Security Expenditure Breakdown (%), 2013-2017
Figure 17: Strategic Defence Intelligence Terrorism Heat Map, 2011
Figure 18: Strategic Defence Intelligence Terrorism Heat Map, 2011
Figure 19: Benchmarking with Key Markets - 2008-2012 vs. 2013-2017
Figure 20: Defense Expenditure of Countries with the Largest Global Military Expenditure (US$ billion), 2012 and 2017
Figure 21: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2012
Figure 22: Romanian Defense Imports (US$ million), 2007-2011
Figure 23: Romanian Defense Imports by Country (US$ million), 2007-2011
Figure 24: Romanian Defense Imports by Category (%), 2007-2011
Figure 25: Romanian Defense Exports (US$ million), 2007-2011
Figure 26: Romanian Defense Exports by country (US$ million), 2007-2011
Figure 27: Romanian Defense Exports by category (%), 2007-2011
Figure 28: Industry Dynamics - Porter's Five Forces Analysis
Figure 29: Aerostar S.A.: Revenue Trend Analysis (million RON), 2007-2011
Figure 30: Aerostar S.A.: Operating Profit Trend Analysis (million RON), 2007-2011
Figure 31: Aerostar S.A.: Net Profit Trend Analysis (million RON), 2007-2011
Figure 32: IAR S.A. Brasov: Revenue Trend Analysis (million RON), 2007-2011
Figure 33: IAR S.A. Brasov: Operating Income Analysis (million RON), 2007-2011
Figure 34: IAR S.A. Brasov: Net Profit Trend Analysis (million RON), 2007-2011
Figure 35: Turbomecanica S.A.: Revenue Trend Analysis (million RON), 2007-2011
Figure 36: Turbomecanica S.A.:: Operating Profit Trend Analysis (million RON), 2007-2011
Figure 37: Romanian Population - Female (In Millions), 2008-2017
Figure 38: Romanian Population - Male (In Millions), 2008-2017
Figure 39: Romanian Construction Output, Current Prices, Local Currency (In Billions), 2001-2010
Figure 40: Romanian Construction Output, Current Prices, US Dollars (In Billions), 2001-2010
Figure 41: Romanian Current Account Balance as Percentage of GDP, 2008-2017
Figure 42: Romanian Deposit Interest Rate, 2001-2010
Figure 43: Romanian Exports of goods and services, current prices (US$ Billion), 2001-2010
Figure 44: Romanian Exports of Services (In Local Currency Billion), 2003-2012
Figure 45: Romanian External Debt as percentage of GDP (%), 2001-2010
Figure 46: Romanian Fiscal Balance as a percentage of GDP (%), 2002-2008
Figure 47: Romanian Foreign Direct Investment (US$ Billion), 2001-2010
Figure 48: Romanian GDP at Purchasing Power Parity (US$ Billion), 2006-2015
Figure 49: Romanian GDP at Constant Prices (Local Currency Billion), 2006-2015
Figure 50: Romanian GDP at Constant Prices (US$ Billion), 2006-2015
Figure 51: Romanian GDP at Current Prices (Local Currency Billion), 2006-2015
Figure 52: Romanian GDP at Current Prices (US$ Billion), 2006-2015
Figure 53: Romanian General Government Final Consumption Expenditure (US$ Billion), 2001-2010
Figure 54: Romanian Gross Fixed Capital Formation, Current Prices (US$ Billion), 2001-2010
Figure 55: Romanian Imports of goods and services (current US$ Billion), 2001-2010
Figure 56: Romanian Inflation, average consumer prices, 2008-2017
Figure 57: Romanian Lending Interest rate, 2001-2010
Figure 58: Romanian Manufacturing Output, Current Prices (Local Currency Billion), 2001-2010
Figure 59: Romanian Manufacturing Output, Current Prices (US$ Billion), 2001-2010
Figure 60: Romanian US$- Exchange Rate (Annual Average), 2002-2011
Figure 61: Romanian Wholesale Price Index, 2000-2009
Figure 62: Romanian Crude Oil Distillation Capacity (Thousand Barrels Per Cal Day), 2000-2009
Figure 63: Romanian Electricity Exports (Billion Kilowatt hours), 2001-2010
Figure 64: Romanian Electricity Imports (Billion Kilowatt hours), 2001-2010
Figure 65: Romanian Electricity Installed Capacity (Million Kilowatts), 2000-2009
Figure 66: Romanian Fossil Fuels Proved natural gas reserves (Trillion Cubic Feet), 2002-2011
Figure 67: Romanian Fossil Fuels- Proved oil reserves (Billion Barrels), 2002-2011
Figure 68: Romanian Hydroelectricity Installed Capacity (Million Kilowatts), 2000-2009
Figure 69: Romanian Natural Gas Consumption (Billion Cubic Feet), 2001-2010
Figure 70: Romanian Natural Gas Imports (Billion Cubic Feet), 2001-2010
Figure 71: Romanian Natural Gas Production (Billion Cubic Feet), 2001-2010
Figure 72: Romanian Net Conventional Thermal Electricity Generation (Billion Kilowatt hours), 2001-2010
Figure 73: Romanian Net Geothermal, Solar, Wind, and Wood Electric Power Generation (Billion Kilowatt hours), 2001-2010
Figure 74: Romanian Net Hydroelectric Power Generation (Billion Kilowatt hours), 2001-2010
Figure 75: Romanian Nuclear Electricity Net Generation (Billion Kilowatt hours), 2001-2010
Figure 76: Romanian Petroleum Consumption (Thousand Barrels Per Day), 2002-2011
Figure 77: Romanian Petroleum Production (Thousand Barrels Per Day), 2002-2011
Figure 78: Romanian People Employed in R and D (Number of researchers per million people, 2000-2009
Figure 79: Romanian Coal Consumption (Thousand Short Tons), 2001-2010
Figure 80: Romanian Coal Production (Thousand Short Tons), 2001-2010
Figure 81: Romanian Political Stability Index, 2002-2010
Figure 82: Romanian Transparency Index, 2002-2011
Figure 83: Romanian Fixed line calling cost local (Euro per 10 min call), 2001-2010
Figure 84: Romanian Fixed line calling cost National (Euro per 10 min call), 2001-2010
COMPANIES MENTIONED
CN Romarm SA, S.C. Uzina Mecanica Cugir S.A., Aerostar S.A., IAR S.A. Brasov, Turbomecanica S.A., Electromagnetica SA, Avioane Craiova S.A ,Elprof S.A ,IOR S.A
