GCC Defense Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis - MarkNtel Advisors

 According to Markntel Advisors Report, GCC Defense Market is expected to grow at a significant growth rate, and the analysis period is 2021-2026, considering the base year as 2020. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Several countries in the GCC region are spending extensively in their respective defense sectors to strengthen their national security. However, these expenses are sent majorly to contractors of other nations. Hence, countries across the GCC region must increasingly focus on local defense manufacturing capabilities to boost their economy.

 

GCC Defense Market Research Report & Summary:

The GCC Defense Market is projected to grow at a CAGR of around 2.12% during the forecast period, i.e., 2021-26.                    

Time Period Captured in the Report:

·        Historical Years: 2016-19

·        Base Years: 2020

·        Forecast Years: 2021-26

Who are the Key Players Operating in the GCC Defense Market?

The top companies of the GCC Defense Market ruling the industry are: 

Saudi Arabian Military Industries, Emirates Defence Industries Company, Advanced Electronics Company, Military Industries Corporation, Dahra Engineering & Security Services LLC, Lockheed Martin Corporation, The Boeing Company, Elbit Systems Ltd, Israel Aerospace Industries, Raytheon Company, Rheinmetall AG, Aselsan AS, Northrop Grumman Corporation, Thales SA, Honeywell International Inc., BAE Systems PLC, Rockwell Collins, L3 Technologies Inc., Airbus SE, Leonardo SpA.)

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What is Included in GCC Defense Market Segmentation?

The GCC Defense Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Aircraft
• Fighter Aircraft
• Transport Aircraft
• Surveillance Aircraft
• Helicopter
• Combat
• Transport
• UAVs
• Surveillance
• Armed
• By Weapons & Ammunitions
• Missiles & Air Defence Systems
• Artillery systems & Mortar Systems
• Infantry Weapons
• Ammunitions
• By Sea Based Platforms
• Transport Ships
• Combat Ships
• Surveillance Ships
• Land Based Vehicles
• Infantry & Armoured Vehicles
• Tanks
• Personal Training & Protection
• Training & Simulation
• Personal Protective Equipment
• Maintenance, Repair & Overhaul (MRO)
• Vehicles
• Weapons & Ammunitions
• Communication Systems
• By Country
• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Bahrain
• Oman

 Explore the Complete GCC Defense Market Analysis Report – https://www.marknteladvisors.com/research-library/gcc-defense-market.html

Market Dynamics

Key Driver: Rapid Technological Advancements & Favorable Regulations by Member Countries

With swiftly escalating geopolitical tensions among countries, the government is immensely investing in the defense sector & taking initiatives in several research & development activities to procure weapons & equipment with advanced technology having more accuracy, lethality, and range. Besides, the dynamic warfare nature and rising cases of terrorist activities are further instigating the need to strengthen national security with a robust defense system. Hence, gulf countries are anticipated to drive the market in the coming years.

Possible Restraint: Gradually Reducing Defense Budgets of Saudi Arabia

In recent years, governments of countries like Saudi Arabia have reduced their defense budgets and are inclined more toward investing in the education sector. Besides, some European Union states have restricted or banned exports of defense equipment to Saudi Arabia, owing to IHL (International Humanitarian Law) & human rights concerns. It is a prominent aspect that shall negatively affect the procurement of defense equipment in Saudi Arabia, which, in turn, would hamper the overall growth of the GCC Defense Market during the forecast period.

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