Kenyan Defense Industry to be Worth USD 1.2 Bn in 2016, Forecasts SDI in Its Report Available at MarketPublishers.com31 Oct 2016 • by Natalie Aster
LONDON – As of 2016, a value of the defense industry amounted to USD 1.2 billion in Kenya. It has been growing at a CAGR of around 5.5% over the recent years. The country’s defense budget is forecast to show growth at a CAGR of approximately 12% over the period 2017-2021. It is set to surpass the USD 2 billion mark by 2021. However, it is unlikely to account for more than 2% of GDP.
The defense expenditure will be driven by a range of factors, such as threats from terrorist groups, border security, peacekeeping missions, and more.
A share of the capital expenditure is forecast to rise in the coming years. In the meantime, it is expected to grow at a CAGR of around 13.7% in the offing.
The local market for homeland security to grow at a double digit CAGR of approximately 18%. The illicit drug trade and human trafficking will be major drivers of this marketplace.
A terrorism index score of the Kenyan market is 6.7. This country is a small contributor in the world’s arms marketplace.
There was an increase in defense imports in this country over the period 2011-2015. Missiles, Air defense systems and Aircraft held a majority of the imports.
Insightful research report “Future of the Kenyan Defense Industry” worked out by SDI offers a comprehensive discussion of the Kenyan defense marketplace. The study explores attractiveness of this market and gives estimation of this sizing. It investigates the defense budget allocation in this marketplace.
The report pays attention to performance of each segment of the Kenyan market. The research study also benchmarks the local marketplace with major global markets. It throws light on exports and imports dynamics.
The research report comprises a Five Forces analysis and looks at regulatory landscape. The study casts light on the market entry route. It investigates key challenges in the space as well and business environment.
The report delves deep into the business environment and unveils the country risk. Forecasts through 2021 can be found in the research study, too.
In-demand reports by SDI are available at its page.