Outlook on the Nigerian Defense Market 2018-2023 - Growing Threats from Boko Haram, Piracy, Oil Smuggling in the Gulf of Guinea and Contributions to Peacekeeping Operations - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 7, 2018--The “Future of the Nigerian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023” report has been added to ResearchAndMarkets.com’s offering.
Nigerian defense budget, valued at US$1.6 billion in 2018, registered a negative CAGR of 6.54% during the historic period. The country has a long history of internal conflicts negatively affecting its economic growth and stability.
Growing threats from Boko Haram, piracy, oil smuggling in the Gulf of Guinea, and contributions to peacekeeping operations are expected to drive the country’s military expenditure, registering a growth rate of 15.22% over the forecast period.
Capital expenditure’s share of the total defense budget increased from 10.1% in 2014 to 25.6% in 2018. Allocations towards the army are expected to marginally decrease from the historic period to forecast period. Similarly, allocation towards the Navy and Air Force is also expected to decrease. Slow population growth is expected to marginally increase the per capita defense expenditure from 2019 to 2023.
However, defense equipment such as multirole aircraft, Land based C4ISR, airborne C4ISR, corvettes attack helicopters, and military IT-networking are expected to be in demand over the forecast period.
The Nigerian defense industry market size and drivers: detailed analysis of the Nigerian defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns.
Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country.
Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years.
Market opportunities: list of the top ten defense investment opportunities over the next 5 years.
Competitive landscape and strategic insights: analysis of the competitive landscape of the Nigerian defense industry.
Key Topics Covered
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Market Entry Strategy
7. Competitive Landscape and Strategic Insights
8. Business Environment and Country Risk
For more information about this report visit https://www.researchandmarkets.com/research/bvp9k2/outlook_on_the?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180607005984/en/
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Related Topics:Military Aerospace and Defense
KEYWORD: NIGERIA AFRICA
INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 06/07/2018 01:09 PM/DISC: 06/07/2018 01:09 PM