DUBLIN--(BUSINESS WIRE)--The "Future of the Jordan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022" report has been added to Research and Markets' offering.
Jordan's defense expenditure rose from US$1.5 Billion in 2013 to US$2.1 Billion in 2017, at a CAGR of 8.28%, primarily due to the country's precarious security environment aggravated by the responsibility of hosting a large refugee population.
Attempts to modernize its military equipment will therefore drive its defense expenditure over the forecast period, which is projected to grow at a CAGR of 5.30% through to 2022. Jordan will maintain its budget allocation for capital expenditure at an average of 4% over the forecast period, with the US providing military aid.
Jordan has a fairly limited capital expenditure on defense with its capital budget outlay for 2017 standing at US$62.2 million. However, the country is a recipient of US military aid, which augments the country's defense capital spending to US$534.3 million for 2017. Despite receiving US military aid, its limited defense capital expenditure does not equip the government with the bargaining power to impose offsets on procurement deals and acts as a barrier to the entry for foreign multinationals.
During 2013-2017, the country's defense expenditure averaged US$1.8 Billion and included US$418.6 million in foreign military aid annually. Jordan's homeland security expenditure declined from US$1.3 Billion in 2013 to US$957.3 million in 2017, as these funds were diverted to curb internal conflicts and control the overspill of refugees. During the historic period, Jordan focused on importing armored vehicles, aircraft, missiles, and artillery, which will continue to be primary weapon categories over the forecast period.
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
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