Saudi Arabia Defense Market Report and Forecast 2024-2032

Saudi Arabia Defense Market Report and Forecast 2024-2032

Saudi Arabia Defence Market Report and Forecast 2024-2032

Market outlook

According to the report by Expert Market Research (EMR), the Saudi Arabia defence market is projected to further grow at a CAGR of 3.90% between 2024 and 2032. Aided by increasing demand for advanced military equipment and the growing focus on strengthening national security, the market is expected to significantly grow by 2032.

Saudi Arabia's defence sector is crucial for ensuring national security, safeguarding territorial integrity, and maintaining regional stability. The sector encompasses a wide range of activities, including the procurement of military equipment, research and development of defence technologies, and the training and maintenance of armed forces. The growing geopolitical tensions and security threats in the Middle East have heightened the importance of a robust defence system in Saudi Arabia.

The increasing demand for advanced military equipment is driving the Saudi Arabia defence market growth. As the country seeks to modernise its armed forces and enhance its defence capabilities, there is a significant focus on procuring state-of-the-art weaponry, surveillance systems, and defence technologies. This trend is further fuelled by the rising defence budget, which enables substantial investments in modernising the military infrastructure.

Moreover, the growing focus on strengthening national security is contributing significantly to the market growth. The Saudi government is investing heavily in defence to counter potential threats from regional conflicts, terrorism, and other security challenges. These investments are aimed at enhancing the operational readiness and combat capabilities of the Saudi armed forces.

The expanding applications of defence technologies in various sectors also play a significant role in propelling the market. In the aerospace sector, advanced defence systems are used for surveillance, reconnaissance, and air defence. The maritime sector utilises defence technologies for naval warfare, coastal surveillance, and securing maritime borders. Additionally, the land-based defence sector employs advanced military equipment for ground operations, logistics support, and training, consequently driving up the Saudi Arabia defence market share.

The growing emphasis on domestic defence production and technology transfer is another driving factor for the market. The Saudi government is focused on achieving self-reliance in defence production through initiatives such as Vision 2030, which aims to localise 50% of military spending by 2030. This emphasis on domestic production is expected to boost the development of the local defence industry and drive market growth.

The market is witnessing diverse applications across various sectors, further bolstering its growth. In the aerospace sector, advanced defence systems are essential for surveillance, reconnaissance, and air defence. The growing focus on enhancing air combat capabilities and securing airspace is driving the demand for advanced fighter jets, unmanned aerial vehicles (UAVs), and air defence systems.

As per the Saudi Arabia defence market analysis, in the maritime sector, defence technologies are crucial for naval warfare, coastal surveillance, and securing maritime borders. The increasing emphasis on securing critical maritime routes and protecting offshore assets is driving the demand for advanced naval vessels, submarines, and maritime surveillance systems.

The land-based defence sector also benefits significantly from advanced military equipment. Modern tanks, armoured vehicles, artillery systems, and infantry equipment are essential for ground operations and combat support. The growing focus on enhancing ground combat capabilities and ensuring the operational readiness of land forces is driving the adoption of advanced military equipment in this sector.

Additionally, defence technologies are used in the cyber defence sector to protect critical infrastructure and national assets from cyber threats. The increasing frequency and sophistication of cyber-attacks are driving the demand for advanced cybersecurity solutions and systems to ensure the integrity and security of defence networks.

Market Segmentation

The market can be divided based on armed forces and type

Market Breakup by Armed Forces

• Army
• Navy
• Air Force

Market Breakup by Type

• Weapons and Ammunition
• Artillery and Mortar Systems
• Infantry Weapons
• Missile and Missile Defence Systems
• Ammunitions
• Vehicles
• Land-based Vehicles
• Sea-based Vehicles
• Air-based Vehicles
• Communication Systems
• Personnel Training, Simulation, and Protection Equipment

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in Saudi Arabia defence market. some of the major players explored in the report by expert market research are as follows:

• Raytheon Technologies Corporation
• Northrop Grumman Corporation
• L3Harris Technologies Inc.
• BAE Systems plc
• Airbus SE
• Thales Group
• The Boeing Company
• Lockheed Martin Corporation
• Leonardo S.p.A.
• Saudi Arabian Military Industries
• General Dynamics Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.