(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Dec. 01, 2023 (GLOBE NEWSWIRE) -- The "Kuwait Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028" report has been added to ResearchAndMarkets's offering.
In 2023, the Kuwaiti government allocated $6.1 billion to its total defense budget, recording a negative CAGR of 1.1% during 2019-23. The country's defense budget is expected to grow at a CAGR of 3.8% over the forecast period, reaching $8.1 billion in 2028.
The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
The acquisition budget for 2023 is $742.7 million and is expected to be $1.8 billion in 2028, growing at a CAGR 6.1% over the forecast period.
During the historic period (2019-23), Kuwait spent $32.1 billion, whereas over the forecast period (2024-28) it is expected to spend $38 billion. The acquisition budget allocated is expected to primarily increase due to the procurement of main battle tanks, military aircraft, and naval ships. Moreover, the protection of vital infrastructure and territorial disputes with Iraq are expected to drive the country's future defense expenditure.
Key Highlights
Drivers of Defense expenditure include Modernization programs, Territorial disputes Major ongoing procurement program include procurement of Eurofighter Typhoon, National Advanced Surface-to-Air Missile System (NASAMS), Bayraktar TB2
Who Should Buy
Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives. The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements. The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.
Scope
Kuwait defense budget: detailed analysis of Kuwait 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions. Regulation: the procurement policy and process is explained. This is coupled with an analysis of Kuwait military doctrine and strategy to provide a comprehensive overview of Kuwait military procurement regulation. Security Environment: political alliances and perceived security threats to Kuwait are examined; there help to explain trends in spending and modernisation. Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years Competitive landscape and strategic insights: analysis of the competitive landscape of Kuwait's defense industry.
Key Topics Covered:
Executive Summary Defense Budget Assessment Budgeting Process Defense Market Size Historic And Forecast Drivers Of Defense Expenditure Analysis of Defense Expenditure Allocation Analysis Of Defense Budget Allocation Military Doctrine And Security Environment Military Doctrine And Strategy Strategic Alliances and Geopolitics Political, Social and Economic Scenario Market Entry Strategy And Regulations Procurement Policy and Market Regulations Market Entry Routes Key Challenges Major Deals and M&A Market Attractiveness And Emerging Opportunities Market Attractiveness By Defense Sector Top Sectors in the Kuwait Defense Market Top Defense Segments By Value Defense Platform Acquisitions Defense Platform Acquisitions By Value Eurofighter Typhoon Tranche 3A National Advanced Surface to Air Missile System (NASAMS) Bayraktar TB2 Fleet Size Competitive Landscape Defense Companies Operating In Kuwait Main Defense Companies Appendix About This Report About Us Contact the Publisher
A selection of companies mentioned in this report includes
The Boeing Co Eurofighter Jagdflugzeug Raytheon Missiles & Defense
For more information about this report visit
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