Azerbaijan Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

Azerbaijan Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

Summary

Azerbaijan Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028 report provides the market size forecast and the projected growth rate for the next five years. 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.

In 2023, the Azerbaijan government allocated a funding of $3.1 billion for its total defense budget, recording a CAGR of 14.9% during 2019-23. The country's defense budget is anticipated to grow at an estimated CAGR of 6.1% over the forecast period, to reach $4 billion in 2028. The growth in the defense budget is primarily due to the territorial disputes with Armenia. The ongoing conflict intensified and resulted in a bloody war in 2023. During the historic period 2019-23, Azerbaijan spent $12.5 billion; whereas during the forecast period 2024-28, it is expected to spend $17.8 billion.

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.

Key Highlights

• The acquisition budget is valued at $1 billion in 2023 which increased from $0.6 billion in 2019 and is anticipated to grow at an average annual growth rate of 5.4% to reach $1.3 billion in 2028. Various procurement programs like Aster 30 platform-based missile defense systems, VL MICA platform-based missile defense systems and Bayraktar TB2 are ongoing to modernize the forces.
• Military fixed wing, missiles and missile defense systems and military radar are the most attractive sectors.

Scope

This report offers a detailed analysis of Azerbaijan defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following -

• Azerbaijan defense budget: detailed analysis of Azerbaijan 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 Azerbaijan's military doctrine and strategy to provide a comprehensive overview of Azerbaijan's military procurement regulation.
• Security Environment: political alliances and perceived security threats to Azerbaijan are examined; they help to explain trends in spending and modernization.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Azerbaijan's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Azerbaijan defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Azerbaijan market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Azerbaijan defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Azerbaijan government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available