Market Share of Middle East and Africa Defense Industry
The prominent players in the Middle-East and African defense market are The Boeing Company, Lockheed Martin Corporation, Saudi Arabian Military Industries, Israel Aerospace Industries, and BAE Systems PLC. There are many local players in the market and most of these state companies in the region provide their products and solutions to their respective domestic armed and security forces. Elbit Systems Ltd, Aselsan AS, Israel Aerospace Industries, and Denel SOC are some of the domestic players that have an international presence for providing a wide range of military products, from portable military equipment for land forces to radars and other equipment onboard aircraft. With innovation and expansion as major strategies, the companies are currently concentrating on product innovation to capture the market presence in emerging countries. Also, countries are concentrating on developing their local manufacturing facilities. For instance, currently, only 2% of total Saudi Arabia's military spending is provided to local defense companies. To strengthen its local manufacturing, under Vision 2030, the government plans to increase the local military equipment spending to 50% by 2030. With such initiatives, the governments are making significant investments in manufacturers, and the local manufacturers are also collaborating with foreign players for technology exchange and integration of advanced manufacturing technologies. With the growth of collaborations and in-house capabilities of the local companies, domestic manufacturers are anticipated to increase their domination over international players during the forecast period.
Middle East & Africa Defense Market Leaders
The Boeing Company
Lockheed Martin Corporation
Saudi Arabian Military Industries
Israel Aerospace Industries
BAE Systems PLC
*Disclaimer: Major Players sorted in no particular order
