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Saudi Arabia Defense Market Size, Share, Growth, Analysis, Forecast: By Armed Forces: Army, Navy, Air Force; By Type: Weapons and Ammunition, Vehicles, Communication Systems, Personnel Training, Simulation, and Protection Equipment; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2023-2028
Saudi Arabia Defense Market Outlook
The Saudi Arabia defense market size is assessed to grow at a CAGR of 3.70% between 2023 and 2028. The market is being supported by the rising spending on defense in the country, surging geopolitical conflicts and regional instability, and the modernisation of defense equipment.
Key Trends in the Market
The defense sector provides governments with various technologies, equipment, and solutions across naval, land, and aerial domains. It plays an integral role in safeguarding a nation, improving the economy, promoting social and civic cohesion, and boosting the diplomatic influence of a country in global affairs.
- Saudi Arabia is one of the largest defense spenders in the world, supported by rising concerns regarding geopolitical conflicts, growing regional instability, and favourable government initiatives.
- The Saudi Arabia defense market growth is being fuelled by the increasing focus of the country’s government on modernising its defence equipment and integrating advanced radars and sensors into its aircraft and weaponry to undertake diverse missions, ranging from ground attack to air superiority, while immediately responding to the rising number of threats.
- The rising focus on localisation to reduce import dependency, create jobs, and diversify income sources, among others, is one of the key Saudi Arabia defense market trends. Under Vision 2030, the Saudi Arabian government aims to localise over 50% of spending on military and equipment by prioritising areas like arms, maintenance and repair of aviation and navy, ammunition, and navy structural components and platforms.
- Technological advancements and innovations are expected to fuel the Saudi Arabia defense market demand in the coming years. Technologies such as artificial intelligence, quantum technology, lethal autonomous weapons, biotechnology, big data, and hypersonic weapons, among others, can boost defence capabilities, gather real-time insights to improve decision-making capabilities, and combat modern age threats such as cyberattacks.
Market Analysis
Based on armed forces, the Saudi Arabia defense market segmentation includes army, navy, and air force. On the basis of type, the market can be divided into weapons and ammunition, vehicles, communication systems, and personnel training, simulation, and protection equipment.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia defense market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Raytheon Technologies Corporation
- Northrop Grumman Corporation
- L3Harris Technologies Inc.
- BAE Systems plc
- Airbus SE
- Thales Group
- The Boeing Company
- Lockheed Martin Corporation
- Leonardo S.p.A.
- Saudi Arabian Military Industries
- General Dynamics Corporation
- Others
Market Share by Armed Forces
The air force accounts for a significant portion of the Saudi Arabia defense market share, aided by the modernisation of air equipment and surging security concerns. The increasing investments in unmanned systems and anti-air and missile-defense systems are further aiding the segment’s growth.
The navy is also expected to witness a healthy growth in the coming years with the rising focus on maritime security in the country. The navy plays a crucial role in protecting offshore assets and providing warnings related to missile and air attacks, hence the Saudi Arabian government is increasingly procuring advanced naval equipment to enhance its naval capabilities.
Market Share by Type
According to the Saudi Arabia defense market analysis, the demand for weapons and ammunition is significantly surging. Ammunitions and weapons play an integral role during combats and wartimes to reduce the capability of the enemy for further resistance.
With rising tensions between the country and its neighbours like Iran and the UAE, the government is increasingly procuring ammunition and weapons from the United States and its European allies. Moreover, the increasing development of advanced weapons that have excellent range and are GPS-guided is likely to bolster the segment’s growth in the forecast period.
Competitive Landscape
Raytheon Technologies Corporation, an RTX business, is a prominent defense and aerospace company, headquartered in Virginia, the United States. The company leverages various technologies to deliver innovative solutions to its customers. Through its advanced solutions, it aims to drive innovations in defense and aviation.
Northrop Grumman Corporation is a leading technology and defense company that was founded in 1939. Headquartered in Virginia, the United States, the company is engaged in designing and building advanced aircraft, cyber solutions, naval systems, and weapons.
Leonardo S.p.A., headquartered in Rome, Italy, is a leading player in the defence, aerospace, and security sectors. The company operates 105 sites globally and some of its business areas are automation, cyber and security, helicopters, space, electronics, and aerostructures. Since its foundation in 1948, Leonardo has emerged as a leading technology partner of institutions, armed forces, and governments.
Other Saudi Arabia defense market players include L3Harris Technologies Inc., BAE Systems plc, Airbus SE, Thales Group, The Boeing Company, Lockheed Martin Corporation, Saudi Arabian Military Industries, and General Dynamics Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Armed Forces |
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| Breakup by Type |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Defense Market Overview
8.1 Key Industry Highlights
8.2 Global Defense Historical Market (2018-2022)
8.3 Global Defense Market Forecast (2023-2028)
8.4 Global Defense Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Saudi Arabia Defense Market Overview
9.1 Key Industry Highlights
9.2 Saudi Arabia Defense Historical Market (2018-2022)
9.3 Saudi Arabia Defense Market Forecast (2023-2028)
10 Saudi Arabia Defense Market by Armed Forces
10.1 Army
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Navy
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Air Force
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
11 Saudi Arabia Defense Market by Type
11.1 Weapons and Ammunition
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.1.3 Breakup by Type
11.1.3.1 Artillery and Mortar Systems
11.1.3.2 Infantry Weapons
11.1.3.3 Missile and Missile Defense Systems
11.1.3.4 Ammunitions
11.2 Vehicles
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.2.3 Breakup by Type
11.2.3.1 Land-based Vehicles
11.2.3.2 Sea-based Vehicles
11.2.3.3 Air-based Vehicles
11.3 Communication Systems
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Personnel Training, Simulation, and Protection Equipment
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Raytheon Technologies Corporation
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Northrop Grumman Corporation
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 L3Harris Technologies Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 BAE Systems plc
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Airbus SE
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Thales Group
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 The Boeing Company
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Lockheed Martin Corporation
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Leonardo S.p.A.
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Saudi Arabian Military Industries
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 General Dynamics Corporation
13.2.11.1 Company Overview
13.2.11.2 Product Portfolio
13.2.11.3 Demographic Reach and Achievements
13.2.11.4 Certifications
13.2.12 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Defense Market: Key Industry Highlights, 2018 and 2028
2. Saudi Arabia Defense Market: Key Industry Highlights, 2018 and 2028
3. Saudi Arabia Defense Historical Market: Breakup by Armed Forces (USD Million), 2018-2022
4. Saudi Arabia Defense Market Forecast: Breakup by Armed Forces (USD Million), 2023-2028
5. Saudi Arabia Defense Historical Market: Breakup by Type (USD Million), 2018-2022
6. Saudi Arabia Defense Market Forecast: Breakup by Type (USD Million), 2023-2028
7. Saudi Arabia Defense Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 3.70% between 2023 and 2028.
The major market drivers are the increasing geopolitical threats, rising military spending of the country, and modernisation of defense equipment.
The increasing focus by the Saudi Arabia government to boost domestic manufacturing of defence equipment, technological advancements and innovations, and the surging utilisation of advanced naval equipment are the key trends aiding the market growth.
The United States is the highest military spender, followed by China, Russia, India, and Saudi Arabia.
The different armed forces covered in the market report are air force, navy, and army.
The various defense types are vehicles, communication systems, weapons and ammunition, and personnel training, simulation, and protection equipment.
The major players in the market are Raytheon Technologies Corporation, Northrop Grumman Corporation, L3Harris Technologies Inc., BAE Systems plc, Airbus SE, Thales Group, The Boeing Company, Lockheed Martin Corporation, Leonardo S.p.A., Saudi Arabian Military Industries, and General Dynamics Corporation, among others.
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