Off-track? : the future of the European defense industry / Katia Vlachos-Dengler
- Bib ID:
- 3114704
- Format:
- Book
- Author:
- Vlachos-Dengler, Katia
- Online Version:
-
- Table of contents
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- http://www.rand.org/publications/MG/MG144
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- Table of contents
- Description:
-
- Santa Monica, CA : RAND Corporation, 2004
- xxix, 156 p. : ill. ; 23 cm.
- ISBN:
- 0833035371
- Full contents:
-
- Machine derived contents note: Contents
- Preface iii
- Figures x
- Tables xi
- Summary xii
- Acknowledgments xx
- Acronyms xxi
- Chapter One
- Introduction 1
- Research Objectives 1
- Organization of This Report 1
- Chapter Two
- The European Market: The Emergence Of Shapers 3
- 2.1. The Framework for Analysis 3
- 2.2. The European and Global Industry Structure 4
- 2.3. The Spaghetti Bowl 7
- 2.3.1. BAE SYSTEMS: Rationalization And Entering
- the United States 8
- 2.3.1.1. Areas of Activity 8
- 2.3.1.2. Strategy 13
- 2.3.1.3. Partnerships 17
- 2.3.2. EADS: Integration Challenges 23
- 2.3.2.1. Areas of Activity 23
- 2.3.2.2. Strategy 28
- 2.3.2.3. Partnerships 31
- 2.3.3. THALES: Reorganization and Access to the
- U.S. Market 34
- 2.3.3.1. Areas of Activity 34
- 2.3.3.2. Strategy 38
- 2.3.3.3. Partnerships 41
- 2.3.4. Finmeccanica: Punching Above its Weight 43
- 2.3.4.1. Areas of Activity 44
- 2.3.4.2. Strategy 48
- 2.3.4.3. Partnerships 49
- 2.3.5. Selected European Niche Players 52
- 2.3.5.1. Cobham 53
- 2.3.5.2. Meggitt 54
- 2.3.5.3. Smiths Group 55
- 2.3.5.4. Zodiac 56
- 2.4. Relative Financial Performance of the Big Four 58
- 2.4.1. Operational Performance 58
- 2.4.2. Financial Health 60
- 2.4.3. Financial Markets' View 63
- Chapter Three
- Projections Into The Future Of The European Defense
- Industry 70
- 3.1 Research Questions and Scope 70
- 3.2 Developing Scenarios 70
- 3.3 Driving Forces and Trends 72
- 3.3.1. Industry Consolidation 74
- 3.3.1.1. Core Competences 74
- 3.3.1.2. Joint Ventures 76
- 3.3.1.3. Sub-Tier Consolidation 76
- 3.3.1.4. The Pace of Consolidation 77
- 2.3.1.5. Capturing the Efficiencies of
- Consolidation 78
- 3.3.1.6. Consolidation: Best Guess and
- Implications for the Industry 80
- 3.3.2. Company Performance 80
- 3.3.2.1. Success or Failure of Integration
- Efforts 80
- 3.3.2.2. Economic Models 82
- 3.3.2.3. Company Performance: Best Guess and
- Implications for the Industry 83
- 3.3.3. European Defense Budgets 84
- 3.3.3.1. General Trends 85
- 3.3.3.2. Budgetary Conditions by Country 87
- 3.3.3.3. Procurement Spending 90
- 3.3.3.4. R&D Spending 91
- 3.3.3.5. Budgets: Best Guess and Implications
- for the Industry 94
- 3.3.4. Status of Current and Future Programs 94
- 3.3.4.1. New Programs Overview 95
- 3.3.4.2. The Airbus A400M 96
- 3.3.4.3. The METEOR 99
- 3.3.4.4. The Tiger 99
- 3.3.4.5. The NH90 100
- 3.3.4.6. The Future Rapid Effects System and
- Other Land Systems Programs 101
- 3.3.4.7. Programs: Best Guess and Implications
- for the Industry 102
- 3.3.5. Future Trends in Procurement 102
- 3.3.5.1. Joint Procurement 102
- 3.3.5.2. Changes in Customer Preferences 104
- 3.3.5.3. Progress of ESDP 106
- 3.3.5.4. Procurement: Best Guess and
- Implications for the Industry 106
- 3.3.6. September 11 and its Aftermath 107
- 3.3.7. Regulation in Europe and the United States 109
- 3.3.7.1. European Initiatives Aimed at
- Facilitating Industrial Cooperation 109
- 3.3.7.2. EU Regulatory Framework With Respect
- to the Defense Industry 110
- 3.3.7.3. Regulatory Issues Affecting the
- Transatlantic Defense Market 112
- 3.4 Scenarios for the European Defense Industry
- Evolution 115
- 3.4.1. Scenario A: Market Forces Dominate 118
- 3.4.2. Scenario B: Muddling Through 120
- 3.4.3. Scenario C: Consolidation Reversal 121
- 3.5 Implications for Transatlantic Relations 124
- 3.5.1. Implications of Scenario A - Market Forces
- Dominate 125
- 3.5.2. Implications of Scenario B - Muddling
- Through 126
- 3.5.3. Implications of Scenario C - Consolidation
- Reversal 127
- Chapter Four
- Conclusions And Directions For Follow-On Research On The
- European Defense Market 129
- 4.1. Conclusions 129
- 4.2. Follow-on Research Agenda 130
- Appendix
- A. European Defense Market Overview 133
- B. Example Of The Spaghetti Bowl: European Aerospace
- Industry Structure 136
- C. Examples Of Transatlantic Relationships 137
- References 140
- Figures
- 2.1 BAE SYSTEMS 2002 Sales by Geographic Area 9
- 2.2 BAE SYSTEMS 2002 Sales by Business Activity 10
- 2.3 EADS 2002 Sales by Geographic Area 24
- 2.4 EADS 2002 Sales by Division 24
- 2.5 EADS / Sources of Synergies 29
- 2.6 EADS / Synergies by Activity 29
- 2.7 THALES 2002 Sales by Geographic Area 35
- 2.8 Finmeccanica 2002 Sales by Geographic Area 45
- 2.9 Finmeccanica 2002 Sales by Segment 46
- 2.10 Total Return to Shareholders, U.S. vs. Europe, 1999-
- 2003 64
- 2.11 Total Return to Shareholders, post-9/11 65
- 2.12 Total Return to Shareholders, 1999-2003, by %
- Revenues from Defense 66
- 3.1 A400M Commitments in Europe 97
- Tables
- 2.1 Global Defense Industry Ranking, 2002 vs. 2000 5
- 2.2 European Defense Industry Ranking, 2002 vs. 2000 6
- 2.3 BAE SYSTEMS / Major Programs 11
- 2.4 BAE SYSTEMS' Perceived Capabilities 14
- 2.5 BAE SYSTEMS Product Positioning 20
- 2.6 EADS Military/Civil Split 25
- 2.7 THALES 2001-2002 Sales by Division 35
- 2.8 THALES Major Product Lines and Programs 36
- 2.9 THALES Acquisitions, 1999-2001 39
- 2.10 Finmeccanica's Strategic Partnerships 49
- 2.11 Operating Cash Flows of Major Players 59
- 2.12 Balance Sheet Strength of Major Players 60
- 2.13 Cash Positions of Major Players 62
- 2.14 Interest Coverage Ratios of Major Players 63
- 2.15 Market Valuation of Major Players 66
- 3.1 Major European Defense Budgets, 1998-2001 85
- 3.2 Major European and U.S. Defense Budgets, 2000-2005 87
- 3.3 Scenario Overview 116.
- Notes:
-
- "MG-144-OSD"
- Includes bibliographical references (p. 139-156)
- Also available in electronic form via the RAND Corporation Web site.
- Subject:
- Other authors/contributors:
- Copyright:
-
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- Publication date:
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