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Saudi Arabia maintains its position as one of the world's largest importers of arms..
Saudi defense spending is expected to reach $ 80 billion by 2022
The Strategic Defense Intelligence (SDI) organisation recently released its annual report on Saudi Arabia, an institution that specializes in issuing annual, sometimes semi-annual, reports on defense sectors in the world, paid reports, and often addressed to military industry companies. Some US websites have published a brief summary of the report.
The report, issued by the Strategic Defense Intelligence Corporation (SDI), titled "The future of the Saudi defense industry - the market's attractiveness, competitive landscape and future prospects until 2022", has 137 pages and contains a large number of statistics and charts.
According to the SDI website, the report contains a detailed analysis of the historical implications and future prospects of defense industry in Saudi Arabia; factors influencing demand; challenges faced by defense industry participants; analysis of leading domestic and foreign defense companies; Main news..
The ongoing arms race between Saudi Arabia and its Middle East counterparts is expected to increase Saudi Arabia's imports of arms. Saudi Arabia's annual military spending for 2017 is estimated to be around $ 50.9 billion and is expected to reach $ 80 billion, according to the report. With a compound annual growth rate of 7.54%. Capital expenditure is expected to reach 45.2% during the period 2018-2022, while expenditure on income is estimated to be 54.8% Budget for defense and security in Saudi Arabia during the forecast period (2018-2022).
On a cumulative basis, Saudi Arabia is expected to invest $ 352.9 billion in defense, of which
$ 159.8 billion is from capital spending to fund defense purchases. The Saudi government has initiated plans for military development and modernization. This would spur the well-defined military modernization plans of the Saudi government along with its efforts to rein in the Houthi rebels in Yemen, as well as increased instability in the region and potential threats from Iran.
Defense spending is therefore expected to be driven by the ongoing arms race between the Middle East countries. During 2012-2016, Saudi Arabia imported foreign fighters and transport aircraft from foreign suppliers, as well as missiles, armor, sensors, artillery, engines and air defense systems.
The report revealed that the Saudi government has a plan intended to be implemented during the next five years. Among the plan it is planned to invest in fighter aircraft, multi-mission aircraft, border security, infantry fighting vehicles, major battle tanks, unmanned aerial vehicles, cybersecurity, submarines, Defense capabilities of the computer network, naval vessels, defense infrastructure construction and facilities management.
Saudi Arabia is expected to modernize and develop its defense establishment, modernize its defense systems, and efforts to develop local military capabilities are expected to lead to arms supplies. Forecasts and projections indicate that there are obstacles to the growth of Saudi defense industries. Transparency, corruption and lack of skilled labor.
Despite efforts to strengthen its domestic military capabilities, the limited capabilities of Saudi defense manufacturing lead to dependence on foreign suppliers of high-tech military equipment and systems. Saudi Arabia allows OEMs to enter their defense industries through joint ventures and cooperative agreements. However, the ban on foreign direct investment (FDI) in the defense industry coupled with corruption and the shortage of skilled labor are hampering foreign-origin equipment manufacturers from invading the Saudi market.
Sources
link to strategicdefenceintelligence.com
link to airforce-technology.com
link to army-technology.com
Saudi defense spending is expected to reach $ 80 billion by 2022
The Strategic Defense Intelligence (SDI) organisation recently released its annual report on Saudi Arabia, an institution that specializes in issuing annual, sometimes semi-annual, reports on defense sectors in the world, paid reports, and often addressed to military industry companies. Some US websites have published a brief summary of the report.
The report, issued by the Strategic Defense Intelligence Corporation (SDI), titled "The future of the Saudi defense industry - the market's attractiveness, competitive landscape and future prospects until 2022", has 137 pages and contains a large number of statistics and charts.
According to the SDI website, the report contains a detailed analysis of the historical implications and future prospects of defense industry in Saudi Arabia; factors influencing demand; challenges faced by defense industry participants; analysis of leading domestic and foreign defense companies; Main news..
The ongoing arms race between Saudi Arabia and its Middle East counterparts is expected to increase Saudi Arabia's imports of arms. Saudi Arabia's annual military spending for 2017 is estimated to be around $ 50.9 billion and is expected to reach $ 80 billion, according to the report. With a compound annual growth rate of 7.54%. Capital expenditure is expected to reach 45.2% during the period 2018-2022, while expenditure on income is estimated to be 54.8% Budget for defense and security in Saudi Arabia during the forecast period (2018-2022).
On a cumulative basis, Saudi Arabia is expected to invest $ 352.9 billion in defense, of which
$ 159.8 billion is from capital spending to fund defense purchases. The Saudi government has initiated plans for military development and modernization. This would spur the well-defined military modernization plans of the Saudi government along with its efforts to rein in the Houthi rebels in Yemen, as well as increased instability in the region and potential threats from Iran.
Defense spending is therefore expected to be driven by the ongoing arms race between the Middle East countries. During 2012-2016, Saudi Arabia imported foreign fighters and transport aircraft from foreign suppliers, as well as missiles, armor, sensors, artillery, engines and air defense systems.
The report revealed that the Saudi government has a plan intended to be implemented during the next five years. Among the plan it is planned to invest in fighter aircraft, multi-mission aircraft, border security, infantry fighting vehicles, major battle tanks, unmanned aerial vehicles, cybersecurity, submarines, Defense capabilities of the computer network, naval vessels, defense infrastructure construction and facilities management.
Saudi Arabia is expected to modernize and develop its defense establishment, modernize its defense systems, and efforts to develop local military capabilities are expected to lead to arms supplies. Forecasts and projections indicate that there are obstacles to the growth of Saudi defense industries. Transparency, corruption and lack of skilled labor.
Despite efforts to strengthen its domestic military capabilities, the limited capabilities of Saudi defense manufacturing lead to dependence on foreign suppliers of high-tech military equipment and systems. Saudi Arabia allows OEMs to enter their defense industries through joint ventures and cooperative agreements. However, the ban on foreign direct investment (FDI) in the defense industry coupled with corruption and the shortage of skilled labor are hampering foreign-origin equipment manufacturers from invading the Saudi market.
Sources
link to strategicdefenceintelligence.com
link to airforce-technology.com
link to army-technology.com
