Nigeria Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

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Nigeria Defense Market Report Overview

The Nigeria defense budget is worth $2.8 billion in 2023 and is anticipated to register a CAGR of more than 4% during 2024-2028. The rise of terrorism and surge in cases of smuggling illegal weapons and oil has been forcing the government to allocate significant funds to combat insurgency. Furthermore, the growing initiatives of the Nigerian government toward peacekeeping operations are also likely to propel the market’s growth during the projected period.

Nigeria Defense Market Outlook 2023-2028 ($ Billion)

Nigeria Defense Market Outlook 2023-2028 ($ Billion)

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The Nigeria defense budget market research report provides the market size forecast and the projected growth rate for the next five years. It also covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Defense Budget (2023) $2.8 Billion
CAGR (2024-2028) >4%
Forecast Period 2024-2028
Historical Period 2019-2023
Key Sectors ·       Military Rotorcraft

·       Submarines

·       Military Land Vehicles

·       Naval Vessels and Surface Combatants

·       Tactical Communication Systems

·       Underwater Warfare Systems

·       Electronic Warfare Systems

·       Others

Key Defense Platform Acquisitions ·       AH-1Z Viper

·       Diesel Electric Submarines

·       Mi-35M

·       Landing Platform Dock (LPD)

·       General Purpose Frigate

·       Others

Leading Companies ·       Defence Industries Corporation of Nigeria

·       Dornier Aviation Nigeria AIEP Ltd

·       Eil Telecom Limited

·       Epenal Group of Companies Nig Ltd

·       Nairda Ltd

·       Naval Dockyard Ltd

·       Proforce Ltd

·       Tritel Intercommunications Nigeria Ltd

·       Westcom Wireless Limited

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Nigeria Defense Market Drivers

Rise of terrorism is one of the most crucial factors influencing the Nigerian defense market. Boko Haram, Islamic State West Africa (ISWA), and Ansaru Muslimina Fi Biladis Sudan (Ansaru) are the three major terrorist groups operating in Nigeria. The country has been witnessing an increased number of terrorist attacks from these groups in the past few years, especially from Boko Haram, which has recently intensified its operations to claim a portion of the country as its own so it can enforce Islamic Sharia law.

Furthermore, Nigeria also faces smuggling, weapons trading, drug trafficking, and illegal entry. The illegal smuggling of arms and ammunition into the country through seaports and borders came to its attention in October 2010 when men from the Nigeria Customs Service (NCS) and the State Security Service (SSS) discovered 13 container loads of arms and ammunition at the Apapa Wharf Ports Complex in Lagos. In October 2021, Nigerian authorities intercepted nearly half a million amphetamine pills hidden in machinery coming into a Lagos port. The continuation of terrorism and illegal activities in the country is likely to force the Nigerian government to pool in additional investments and allocate higher budgets for the defense sector in the forthcoming years.

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Nigeria Military Doctrines and Defense Strategies

The spread of terrorist networks continues to pose a significant security issue in Nigeria. The government has different measures to counter-terrorism such as the Meghalaya Model and programs like countering terrorism through public-private partnerships (PPP). The country is also focusing on the development and deployment of robust military capabilities in a pre-emptive, positive manner to ensure tranquility, peace, and stability.

Its defense policy demonstrates its commitment to securing its national interests and defending itself against external aggression. The constitution of the Federal Republic of Nigeria stressed the need for legitimate and organized instruments of coercion within its border with a view to warding off threats internally and externally.

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Nigeria Defense Market Segmentation by Sectors

The key sectors in the Nigerian defense market are submarines, military rotorcraft, naval vessels and surface combatants, military land vehicles, electronic warfare systems, and tactical communication systems among others. In 2023, the military rotorcraft sector accounted for the largest Nigerian defense market share and value. The government is anticipated to invest in attack helicopters and transport & utility aircraft over 2023–28.

Nigeria Defense Market Analysis by Sectors, 2023 (%)

Nigeria Defense Market Analysis by Sectors, 2023 (%)

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Nigeria Defense Market Segmentation by Platform Acqusitions

The key platforms acquired or programs/equipment in the Nigeria defense market are AH-1Z Viper, Diesel Electric Submarines, Mi-35M, General Purpose Frigate, Bayraktar TB2, and Ezugwu among others. During 2023-2033, the attack helicopter AH-1Z Viper is expected to account for the highest estimated contract allocations (ECA).

Nigeria Defense Market Analysis by Platform Acquisitions, 2023-2033 (%)

Nigeria Defense Market Analysis by Platform Acquisitions, 2023-2033 (%)

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Nigeria Defense Market - Competitive Landscape

Some of the leading defense companies operating in Nigeria are Defence Industries Corporation of Nigeria, Dornier Aviation Nigeria AIEP Ltd, Eil Telecom Limited, Epenal Group of Companies Nig Ltdm Nairda Ltd, Naval Dockyard Ltd, Proforce Ltd, Tritel Intercommunications Nigeria Ltd, and Westcom Wireless Limited among others.

Nigeria Defense Market Analysis by Players, 2023 (%)

Nigeria Defense Market Analysis by Players, 2023 (%)

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Segments Covered in the Report

Nigeria Defense Sectors Outlook (Value, $ Million, 2023-2028)

  • Military Rotorcraft
  • Submarines
  • Military Land Vehicles
  • EO/IR Systems
  • Naval Vessels and Surface Combatants
  • Underwater Warfare Systems

Nigeria Defense Platform Acquisition Outlook (Value, ECA $ Million, 2023–2033)

  • AH-1Z Viper
  • Diesel Electric Submarines
  • Mi-35M
  • Landing Platform Dock (LPD)
  • General Purpose Frigate
  • Bayraktar TB2

Scope

The report provides:

  • Detailed analysis of Nigeria defense market with market size forecasts covering the next five years. The report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.
  • Detailed analysis of the Nigeria 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
  • Explanation of the procurement policy coupled with an analysis of the Nigeria military doctrine and strategy to provide a comprehensive overview of Nigeria’s military procurement regulation.
  • Examination of political alliances and perceived security threats to Nigeria and how they help to explain trends in spending and modernization.
  • Analysis of prevalent trends in the country’s imports and exports over the last five years.
  • Analysis of the competitive landscape of Nigeria’s defense industry.

Key Highlights

• Drivers of Defense expenditure include Rise of terrorism and oil and illegal weapon smuggling, Peacekeeping operations

• Major ongoing procurement program include procurement of M-346FA, Mi-35M, Ezugwu

Reasons to Buy

  • Determine prospective investment areas based on a detailed trend analysis of the Nigeria defense market over the next five years
  • Gain an in-depth understanding of the underlying factors driving demand for different defense and internal security segments in the Nigeria 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 Nigeria defense market providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channel resources by focusing on the ongoing programs that are being undertaken by the Nigeria government.
  • Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.

Bell Helicopter Textron IncBell Helicopter Textron Inc
Russian Helicopters JSC
Defence Industries Corporation of Nigeria

Table of Contents

  • 1. Executive Summary
  • 2. Defense Budget Assessment

    • 2.1. Budgeting Process
    • 2.2. Defense Market Size Historical And Forecast
    • 2.3. Drivers Of Defense Expenditure
    • 2.4. Analysis of Defense Expenditure Allocation
    • 2.5. Analysis Of Defense Budget Allocation

  • 3. Military Doctrine And Security Environment

    • 3.1. Military Doctrine And Strategy
    • 3.2. Strategic Alliances and Geopolitics
    • 3.3. Political, Social, and Economic Scenario

  • 4. Market Entry Strategy And Regulations

    • 4.1. Procurement Policy and Market Regulations
    • 4.2. Market Entry Routes
    • 4.3. Key Challenges
    • 4.4. Major Deals and M&A

  • 5. Market Attractiveness And Emerging Opportunities

    • 5.1. Market Attractiveness by Defense Sector
    • 5.2. Top Sectors in the Nigeria Defense Market
    • 5.3. Top Defense Segments by Value

  • 6. Defense Platform Acquisitions

    • 6.1. Defense Platform Acquisitions By Value
    • 6.2. AH-1Z Viper
    • 6.3. Diesel Electric Submarines
    • 6.4. Mi-35M

  • 7. Fleet Size

    • 7.1. Defense Companies Operating in Nigeria
    • 7.2. Main Defense Companies

  • 8. Appendix

    • 8.1. About This Report
    • 8.2. About Us
    • 8.3. Contact Us

Frequently asked questions

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