Kuwait Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2027

Kuwait Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2027 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 2022, the Kuwaiti government allocated $6.4 billion to its total defense budget, recording a CAGR of 0.7% during 2018-22. The country’s defense budget is expected to grow at a CAGR of 2.7% over the forecast period, reaching $7.4 billion in 2027. The acquisition budget for 2022 is $0.9 billion and is expected to be $1.6 billion in 2027, growing at a CAGR 9.2% over the forecast period. During the historic period (2018-22), Kuwait spent $33 billion, whereas over the forecast period (2023-27) it is expected to spend $35.6 billion. The acquisition budget allocated is expected to primarily increase due to the procurement of main battle tanks, military aircraft, and naval ships. Moreover, the protection of vital infrastructure and territorial disputes with Iraq are expected to drive the country’s future defense expenditure.

Key Highlights

– Kuwait’s defense expenditure grew from $6.2 billion in 2018 to $8 billion in 2021 but it dipped in 2022 to value $6.4 billion, reflecting a CAGR of 0.7% during 2018-22. Over the forecast period, the defense budget is anticipated to reach $7.4 billion in 2027 from $6.6 billion in 2023, registering a CAGR of 2.7%. The increase in budget is primarily driven by the need to upgrade the country’s existing arsenal and deal with border disputes with Iraq.
– Kuwait maintains one of the world’s highest military spending ratios per capita, driven by the country’s desire to play an important role in international affairs and bilateral relations. Kuwait consistently increased its military and security expenditure during 2018-2021 – following a dip in 2022. This is mainly because its major acquisition programs including F/A–18 E/F have been completed.
– The most attractive sectors in Kuwait’s defense market are military fixed wing, missiles and missile defense systems and military land vehicles.

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.

Scope

This report offers a detailed analysis of the Kuwait 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 –

– Kuwait defense budget: detailed analysis of the Kuwait 2022 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 the process is explained. This is coupled with an analysis of the Kuwait military doctrine and strategy to provide a comprehensive overview of Kuwait’s military regulation.

– Security Environment: political alliances and perceived security threats to Kuwait are examined; there help to explain trends in spending and modernization.

– Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years

– Competitive landscape and strategic insights: analysis of the competitive landscape of Kuwait’s defense industry.

Reasons to Buy

– Determine prospective investment areas based on a detailed trend analysis of the Kuwait 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 Kuwait 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 Kuwait 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 Kuwait 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 includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available