Market Share of GCC Defense Industry
Lockheed Martin Corporation, The Boeing Company, Airbus SE, Elbit Systems Ltd, Saudi Arabian Military Industries, and EDGE Group are some of the prominent players in the GCC defense market. Earlier, foreign players accounted for the majority share in the GCC defense market due to the dependency of the countries on international players for arms and ammunition. However, over the past few years, it can be observed that regional players are gradually increasing their share in the market. Saudi Arabia and the United Arab Emirates are strongly emphasizing on indigenous production of defense equipment, and many foreign defense organizations are partnering with the local Gulf-based organizations in the defense sector.
For instance, SAMI signed a joint venture agreement with FIGEAC AÉRO Group and the Saudi Arabian Industrial Investments Company (Dussur) for the establishment of SAMI FIGEAC AÉRO Manufacturing LLC. The joint venture will manufacture aerostructure components and initially manufacture machined and processed aerospace parts with light alloy (aluminum) and hard metal (titanium) materials. Similar developments in product portfolios of regional players are expected to intensify further during the forecast period.
GCC Defence Market Leaders
Lockheed Martin Corporation
The Boeing Company
Airbus SE
Saudi Arabian Military Industries (SAMI)
EDGE Group PJSC
*Disclaimer: Major Players sorted in no particular order
