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The Saudi Arabia defense market size is assessed to grow at a CAGR of 3.70% between 2024 and 2032. 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.
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.
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.
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.
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.
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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 3.70% between 2024 and 2032.
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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