Dublin, Oct. 10, 2024 (GLOBE NEWSWIRE) -- The "Kuwait Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
In 2024, the Kuwaiti government allocated $6.1 billion to its total defense budget, recording a CAGR of 3.1% during 2020-24. The country's defense budget is expected to grow at a CAGR of 3.5% over the forecast period, reaching $7.5 billion in 2029. The acquisition budget for 2024 is $819.4 million and is expected to be $1.5 billion in 2029, growing at a CAGR 7% over the forecast period.
During the historic period (2020-24), Kuwait spent $31.8 billion, whereas over the forecast period (2025-29) it is expected to spend $35.3 billion. The acquisition budget allocated is expected to primarily increase due to the procurement of main battle tanks, military aircraft, and naval ships. Moreover, the protection of vital infrastructure and territorial disputes with Iraq are expected to drive the country's future defense expenditure.
Scope
- This report offers a detailed analysis of Kuwait's defense market, with market size forecasts covering the next five years. It also offers insights into the strategy, security environment and defense market dynamics of the country. Various sections covered in the report are as follows:
- Defense Budget Assessment: This chapter covers the defense budgeting process, market size forecasts, drivers of expenditure, and allocation analysis. It also examines key market trends and insights.
- Military Doctrine and Security Environment: Detailed analysis of military doctrine, strategic alliances, geopolitical dynamics, and the political, social, and economic factors influencing the security environment.
- Market Entry Strategy and Regulations: This section elaborates on essential aspects of procurement policy and market regulations, market entry routes, key defense procurement bodies and major deals.
- Market attractiveness and emerging opportunities: It evaluates the attractiveness of various defense sectors, indicating cumulative market value, and highlights the top sectors and defense segments by value in the country.
- Defense Platforms Import and Export Dynamics: Provides an understanding of the defense platform imports and exports of the country from 2016 to 2023. Both imports and exports of the country are provided in terms of value ($M) and volume (units), categorized by country and sector.
- Defense Platform Acquisitions: It offers an overview of defense platform acquisitions by value. It lists current defense procurement schedules for the major ongoing and planned military platforms that have been formulated in the country and elaborates on the reasons leading to the procurement of the same.
- Fleet Size: Outlines the current fleet sizes of the Army, Air Force, and Navy, detailing the year of acquisition, units in service, and the prime contractor for the equipment.
- Competitive Landscape: Profiles the main defense companies operating in the country, offering insights into their business overviews, latest contracts, and financial results.
Key Highlights
- Modernization of equipment and strained relationship with Iraq are key factors driving defense expenditure
- Major ongoing procurement program include procurement of Eurofighter Typhoon, AH-64E Apache, PAC-3 Missile Segment Enhancement (MSE)
Key Topics Covered:
- Executive Summary
- Defense Budgetary Assessment
- Budgeting Process
- Defense Market Size Historic And Forecast
- Drivers Of Defense Expenditure
- Analysis of Defense Expenditure Allocation
- Analysis Of Defense Budget Allocation
- Key Market Trends and Insights
- Military Doctrine And Security Environment
- Military Doctrine And Strategy
- Strategic Alliances and Geopolitics
- Political, Social and Economic Scenario
- Defense Procurement Bodies
- Funding Opportunities
- Trade Associations and Defense Clusters
- Types of Contracts and Opportunities
- Types of European Procurement Procedure
- Procurement Policy and Market Regulations
- Market Entry Routes
- Key Challenges
- Major Deals and M&A
- Market Attractiveness and Emerging Opportunities
- Market Attractiveness By Defense Sector
- Top Sectors in the Greece Defense Market
- Top Defense Segments By Value
- Defense Platforms Import and Export Dynamics
- Defense Platforms Import Dynamics
- Defense Platform Acquisitions
- Defense Platform Acquisitions By Value
- National Advanced Surface-to-Air Missile System (NASAMS)
- Eurofighter Typhoon Tranche 3A
- T-90MS
- Haboob
- AH-64E Apache
- Fleet Size
- Army
- Navy
- Air Force
- Competitive Landscape
- Appendix
Competitive Landscape
- Eurofighter Jagdflugzeug Gmbh
- Lockheed Martin Corp
- The Boeing Co
For more information about this report visit https://www.researchandmarkets.com/r/k5p1ms
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