DUBLIN--(BUSINESS WIRE)--The "Future of the Kuwaiti Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
Kuwait remains wary of the resurgence of Islamic State (IS) in neighboring Iraq with which shares a long border and continues to face the threat of IS infiltration.
Although the influence of IS reduced significantly by 2017, IS extremists, which in the past orchestrated an attack on Imam Sadiq mosque in the Al Sawabir area of Kuwait City, can regroup and launch strikes on other targets within Kuwait. Thus Kuwait is expected to invest heavily in securing its frontiers to prevent illegal infiltration.
- With a military expenditure of US$7.6 billion in 2018, Kuwait is expected to cumulatively spend US$48.3 billion on its military over the forecast period. Kuwaiti military and security expenditure, which stood at US$7.6 billion in 2018, registered a CAGR of 6.87% during the historic period.
- Between 2014 and 2018, the country allocated an average of 19.3% of the total defense budget to capital expenditure, and the remaining 80.7% to revenue expenditure.
- The country's revenue expenditure is characterized by high levels of investment in operating its military, such as salaries and the pensions of retired personnel.
- Over the forecast period, the Kuwaiti Ministry of National Defense (MND) is expected to increase its current level of allocation for capital expenditure, averaging 21.3% of the total defense budget.
- The MoD is expected to invest in multirole aircraft, corvettes, and airborne C4ISR among others.
- Lockheed Martin
- Abu Dhabi Ship Building (ADSB)
- Eurofighter Jagdflugzeug
- Airbus Helicopters
- General Dynamics
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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