Saudi Arabia Is amid Leading Defense Spenders Globally, Informs SDI in Its Topical Research Report Recently Uploaded at MarketPublishers.com29 Aug 2017 • by Natalie Aster
LONDON – Saudi Arabia ranks one of the biggest defense spenders worldwide, behind the US, China and Russia. The country’s military budget stands at appr. USD 50.9 billion in the current year. Saudi Arabia is the largest country-wide market in the Middle East region owing to its robust economic development and favourable financial position supported by the oil exports. The escalating tension with Iran, active modernization programs, aggressive procurement strategies and strong need to strengthen the domestic defense industry, are the key factors propelling military expenditure in Saudi Arabia.
In the short run, Saudi Arabia is likely to invest more than USD 352.5 billion for defense purposes; nearly USD 159.8 billion of this sum is expected to be used to fund defense procurement. Well-defined military modernization plans of the country’s government together with its efforts to suppress Houthi insurgency in Yemen and also its support for rebel factions within Syria, are predicted to boost the expenditure through the few coming years.
Topical research report “Future of the Saudi Arabia Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” created by Strategic Defence Intelligence (SDI) contains a comprehensive analysis of the domestic defense industry landscape, uncovers important data on the industry size, shape, segments, current landscape and dynamics. It sheds light on the main forces responsible for the country’s defense industry growth and development, features prevailing and emerging trends, and reviews the recent industry developments. Besides, the report outlines the future growth prospects and gives access to detailed short run forecasts. Insights into competitive environment along with profiles of the dominant participants are at hand in the report as well.
Note that this topical study is available at a discounted price until September 1, 2017. For further details on the lucrative offer on reports from GlobalData’s brands follow to this page.
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