(MENAFNEditorial) Russian arms market showcased a remarkable growth in past one decade as Russian arms sales increase by more than 150% in 2015
Russia Arms market is expected to expand at a compound annual growth rate (CAGR) of 2.5% over the forecast period i.e. 2016-2024.Further, in 2016, over 34, 000 units of arms were exported by Russia across the globe.
Russia Arms Market Landscape
Various approximations are presented on the size of Russian arms exports —but all prominent market monitors agree that Russia is presently the world's second-largest arms supplier after the United States. On the basis of percentage, Russia is one of the global leaders in terms of the share of GDP disbursed on defense sector. For instance, the United States' defense spending creates up to 3.5%of its GDP, with China's reaching some 2.1%, whereas Russia's sums to 4.5% of its total GDP. The Russian figure is the world's biggest after Saudi Arabia and the UAE, which spend 10.4 and 5.1% of their GDP respectively on arms.
' Russia Arms Market Report covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in arms industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, Arms manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall arms industry.
Russia Arms Market Segmentation can be classified on the basis of:-
Based on Types of Weapon
o Land Based Weapon
o Aerospace Based Weapon
o Naval Based Weapon
o Digital Arms
Based on Application
o Military & Defense Actions
o Law Enforcement
o Hunting & Sports
o Self-Defense
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Market Trends, Drivers and Challenges
Russia is concentrating over its cold-war legacy business and is aggravating to develop its competitive position in arms exports across the globe. With robust government marketing support and improvement in overseas arms and ammunition sales is probable to fuel the growth of Russia arms market . However, large client base of the US and unceasing demand for US armaments in Middle East region is a major challenge for the growth of Russia arms market. Moreover, Russia is concentrating on the development of arms business in emerging countries. For instance, in 2016, Russia exported combat aircrafts and advanced battle tanks to emerging economies such as India and China. Russia also delivered arms deals to other developing countries such as Burma, Algeria and Malaysia.
'Russia Arms Market Report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Russia Arms market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
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