DUBLIN--(BUSINESS WIRE)--The "Future of the Jordanian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
Jordan's defense expenditure rose from US$1.6 billion in 2014 to US$2 billion in 2018, at a CAGR of 6.66% 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 rise from US$2.1 billion in 2019 to US$2.6 billion by 2023, at a CAGR of 5.60%. Jordan will maintain its budget allocation for capital expenditure at an average of 3.3% over the forecast period, with the US providing military aid.
Due to a lack of domestic production capabilities, Jordan relies heavily on military imports. During the historic period, defense imports comprised aircraft, missiles, and armored vehicles from the Netherlands, Russia, Belgium, the US, the UAE, South Korea, and the UK - all of which were partly financed by the US.
However, with the Trump administration is seeking to curtail US military and economic aid to Jordan from US$453.7 million in 2016 to US$353.8 million in 2019, imports could stabilize somewhat over the next five years.
During 2014-2018, defense expenditure averaged US$1.9 billion, and included an average of US$404.8 million in foreign military aid. Jordan's homeland security expenditure declined from US$1.4 billion in 2014 to US$1 billion in 2018, as 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, all of which will continue to be primary weapon categories over the forecast period. Efforts to develop its domestic defense industry will present firms with growth opportunities and enhance the country's market attractiveness.
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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