DUBLIN--(BUSINESS WIRE)--The "Future of the Kenyan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The Kenyan defense market, valued at around US$1.3 billion in 2018, is expected to see sustained growth over the forecast period to reach about US$1.6 billion by 2023.
Growing threats from terrorism, border conflicts with Somalia, human trafficking, arms smuggling and contributions to peacekeeping operations are expected to drive the country's military expenditure, registering a growth rate of just over 4% over the forecast period.
Kenya's capital defense expenditure will increase from over US$450 million in 2018 to around US$575 million by 2023. Over the forecast period, the average share of total CAPEX is expected to cross 35% from its historic-period average of about 34%. Defense equipment such as land-based C4ISR, physical security infrastructure, and IT-networking are expected to be in demand over the forecast period.
- With an armed force that is considered to be one of the most powerful in East Africa, Kenya has consistently procured a large amount of military hardware, including small arms, aircraft, artilleries and armored vehicles, which drove defense expenditure during the historic period.
- The country's defense budget increased at a CAGR of 8.33%, with an investment of US$1.0 billion in 2014 to US$1.3 billion in 2018. The government's well-defined military modernization plans and efforts to counter domestic and foreign terrorist attacks, along with the country's active and consistent participation in various peacekeeping missions, will stimulate expenditure over the forecast period.
- The country's defense budget is expected to increase at a CAGR of 4.09%, from US$1.4 billion in 2018 to US$1.6 billion in 2023.
- Lockheed Martin
- Lockheed Sikorsky
- Construcciones Aeronuticas SA
- Korean Aerospace Industries
- Samsung Techwin
- Hyundai Rotem
- Howaldtswerke-Deutsche Werft
- Thyssenkrupp Marine Systems, BAE
- General Atomics Aeronautical Systems
- Makina ve Kimya Endstrisi Kurumu
- Turkish Aerospace Industries
- Tusas Engine Industries
- FNSS Defense Systems Company
- Istanbul Shipyard
Key Topics Covered
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Competitive Landscape and Strategic Insights
7. Business Environment and Country Risk
For more information about this report visit https://www.researchandmarkets.com/research/vlm4rv/future_of_the?w=4