Saudi Arabia Defense Market Analysis, Opportunities | 2031

Segments - Saudi Arabia Defense Market by Types (Personnel Training, Simulations, and Protection Equipment, Communication Systems, Weapons and Ammunitions [Artillery and Mortar Systems, Infantry Weapons, Missile and Missile Defense Systems, Ammunitions], Vehicles [Land-based Vehicles, Sea-based Vehicles, Air-based Vehicles]), and Country (Saudi Arabia) - Saudi Arabia Industry Analysis, Growth, Share, Size, Trends and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Indranil Bose

Editor : Shruti Bhat

Report Description

The Saudi Arabia defense market size was USD 14.65 Billion in 2022 and is likely to reach USD 21.01 Billion by 2031, expanding at a CAGR of 4.09% during 2023–2031. The growth of the market is attributed to the increasing defense acquisitions.

Saudi Arabia is the country in the Gulf region with a population of 33 million, and the biggest economy in the Arab World with a GDP of USD 782 billion. It is the only G-20-part country in the Middle East The Saudi Arabian Government (SAG) exercises control over economic activities and financial exercises of the nation's oil-based economy.

Saudi Arabia holds 16% of the world's proven petrol reserve. It’s one of the world's biggest producer and exporter of unrefined petroleum, and is an enormous oil purifier and producer of natural gas. As indicated by Forbes Magazine, oil represents approximately 87% of budget revenues, 32% of GDP, and 81% of export profit.

Saudi Arabia strategies focus on drawing new foreign ventures, which were part of the talks at the Future Investment Initiative discussion held in Riyadh in October of 2019. 300 worldwide venture chiefs and policymakers joined at the event.

Saudi Arabia declared marking of $20 billion in investment deals during the event, including huge arrangements among Saudi Arabia- and the US-based organizations. The market in Saudi Arabia is anticipated to expand at a high CAGR share during the forecast period owing to increasing defense budgets and modernization plans in emerging such as Middle East-based countries.

Market Trends, Drivers, Restraints, and Opportunities

Rapid growth in the external security requirements is expected to boost the defense market growth.
Increase in demand for UAV'S is one of the key factors driving the market expansion during the market in the coming years.
The high adoption of advanced technology is one of the major factors spurring the market in the country.
Growing security threats in Saudi Arabia is spurring the development of the market.
Fluctuation in oil prices can hinder the growth of the market.
Rising allocation towards defense budget is estimated to accelerate the growth of the market.
Growing modernization of the navy fleet is expected to create lucrative opportunities during the forecast period.

Scope of Saudi Arabia Defense Market Report

The report on the Saudi Arabia defense market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Saudi Arabia Defense Market - Saudi Arabia Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Personnel Training, Simulations, and Protection Equipment, Communication Systems, Weapons and Ammunitions [Artillery and Mortar Systems, Infantry Weapons, Missile and Missile Défense Systems, Ammunitions], Vehicles [Land-based Vehicles, Sea-based Vehicles, Air-based Vehicles])
Country Scope	Saudi Arabia
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Saudi Arabian Military Industries; BAE System PLC; Lockheed Martin Corporation; The Boeing Company and Raytheon Technologies Corporation.

Defense Market Segment Insights

Vehicles segment is expected to grow at a rapid pace

Based on types, the market is divided into personnel training, simulations, and protection equipment, communication systems, weapons and ammunitions, and vehicles. The weapons and ammunitions segment is further classified as artillery and mortar systems, infantry weapons, missile and missile defense systems, and ammunitions. The vehicles segment is further classified as land-based vehicles, sea-based vehicles, and air-based vehicles.

The vehicles segment is estimated to account for a significant share of the market due to increasing number of unmanned combat aircraft, multi-mission tactical vehicles, and better-armed protective vehicles, which represent unmet requirements that are likely to be the driving forces in the defense industry. The industry is highly consolidated in terms of suppliers and buyers, and is highly dependent on government spending.

The weapons and ammunitions segment is anticipated to grow at a rapid pace during the forecast period. Increasing demand for advanced ammunition to strengthen the defense is propelling the segment growth.

Segments

The Saudi Arabia defense market has been segmented on the basis of

Types

Personnel Training, Simulations
Protection Equipment
Communication Systems
Weapons and Ammunitions
- Artillery and Mortar Systems
- Infantry Weapons
- Missile and Missile Defense Systems
- Ammunitions
Vehicles
- Land-based Vehicles
- Sea-based Vehicles
- Air-based Vehicles

Country

Saudi Arabia

Key Players

Saudi Arabian Military Industries
BAE System PLC
Lockheed Martin Corporation
The Boeing Company
Raytheon Technologies Corporation

Competitive Landscape

Key players competing in the Saudi Arabia defense market are Saudi Arabian Military Industries; BAE System PLC; Lockheed Martin Corporation; The Boeing Company and Raytheon Technologies Corporation.

Saudi Arabia Defense Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Defense Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Defense Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Defense Market - Supply Chain
  4.5. Global Defense Market Forecast
     4.5.1. Defense Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Defense Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Defense Market Absolute $ Opportunity
5. Global Defense Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Defense Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Defense Demand Share Forecast, 2019-2026
6. North America Defense Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Defense Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Defense Demand Share Forecast, 2019-2026
7. Latin America Defense Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Defense Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Defense Demand Share Forecast, 2019-2026
8. Europe Defense Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Defense Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Defense Demand Share Forecast, 2019-2026
9. Asia Pacific Defense Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Defense Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Defense Demand Share Forecast, 2019-2026
10. Middle East & Africa Defense Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Defense Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Defense Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Defense Market: Market Share Analysis
  11.2. Defense Distributors and Customers
  11.3. Defense Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)