Future of the Saudi Arabian Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2020

Date: 2015-08

“• Saudi Arabia is the fourth largest defense spender in the world, behind the US, China, and Russia, with a military budget valued at US$56.7 billion in 2015.

• The rising tension with Iran, aggressive procurement strategies and modernization programs, along with the need to strengthen its indigenous defense industry, are the major drivers boosting military spending.

• Saudi Arabian defense expenditure is expected to increase from a projected US$63.3 billion in 2016 to reach US$87.2 billion by 2020 at a CAGR of 8.35%.

• The various procurements that have fueled the growth of the capital budget allocation during 2011-2015 include F-15 aircraft, UH-60M Black Hawk utility helicopters, C-130J-30 Aircraft and KC-130J Air Refueling Aircraft, Eurofighter Typhoons, Light Armored Vehicles (LAVs) PATRIOT (PAC-2) Missiles Recertification, air missile defense systems, and other arms imports.”

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