Future of the Qatari Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024 - ResearchAndMarkets.com
The "Future
of the Qatari Defense Industry - Market Attractiveness, Competitive
Landscape and Forecasts to 2024" report has been added to ResearchAndMarkets.com's
offering.
This report provides readers with detailed analysis of both historic and
forecast defense industry values, factors influencing demand, the
challenges faced by industry participants, analysis of industry leading
companies, and key news.
The tiny gas-rich nation of Qatar is using its massive wealth to launch
a military modernization program with the aim of keeping pace with its
neighbors such as the UAE, Bahrain, and Oman. With surging natural gas
prices and the country's plan to increase its LNG output, the Qatari
government is focusing on increasing its military expenditure, which
stands at US$6.5 billion in 2019. The budget is expected to grow at an
estimated CAGR of 5.2% over the forecast period, to reach US$8.8 billion
in 2024.
The main factors driving procurement in the region are the arms race in
the Middle East region, modernization initiatives, and Qatar's
diplomatic isolation. In June 2017, a Saudi Arabia led alliance severed
political and economic ties with Qatar over its alleged support for
terrorism. Since the rift began, Qatar had announced billion-dollar
purchases of advanced fighter jets, ammunition, missile defense systems,
armored vehicles and naval vessels.
Qatar is expected to remain one of the fastest-growing defense markets
in the Middle East over the coming decade due to its underdeveloped
domestic defense sector, which forces it to rely on foreign OEMs to
enhance its military capabilities. During 2013-2017, Qatar sourced the
majority of its defense imports from companies based in the US, which
fulfilled 66.7% of the country's arms imports. Aircraft accounted for
30.7% of Qatar's arms imports, followed by missile systems and armored
vehicles.
With its small territory and population base, Qatar relies on external
cooperation and support for its security. Since 2009, there has been a
shift in the country's procurement strategy towards the use of US-QARe
weapons, with 87% of defense imports coming from companies based in the
US. The acquisition of attack and transport helicopters and other
weapons systems, including air defense and missile defense, points to
the country's increasing reliance on US-QARe systems.
The country's capital expenditure is anticipated to increase from US$1.9
billion in 2019 to US$3 billion in 2024, growing at a strong CAGR of
6.73% during the forecast period. The Qatari Defense Ministry is
anticipated to procure attack and multi-utility helicopters, missile
defense systems, fighter aircraft, armored vehicles, main battle tanks,
and early warning radar systems. Additionally, Qatar is expected to
invest in security systems and platforms as a result of the country
hosting the FIFA World Cup 2022. Qatar's ongoing acquisition of Typhoon
fighter jets will be used for security and sky patrolling.
Scope
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The Qatari defense industry market size and drivers: detailed analysis
of the Qatari defense industry during 2020-2024, including highlights
of the demand drivers and growth stimulators for the industry. It also
provides a snapshot of the country's expenditure and modernization
patterns
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Budget allocation and key challenges: insights into procurement
schedules formulated within the country and a breakdown of the defense
budget with respect to capital expenditure and revenue expenditure. It
also details the key challenges faced by defense market participants
within the country
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Import and Export Dynamics: analysis of prevalent trends in the
country's imports and exports over the last five years
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Market opportunities: list of the top ten defense investment
opportunities over the next 5 years
-
Competitive landscape and strategic insights: analysis of the
competitive landscape of the Qatari defense industry.
Companies Mentioned
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Lockheed Martin Corp.
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Sikorsky Aircraft
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Raytheon
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Boeing
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BAE Systems
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Dassault Aviation
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Pilatus Aircraft Ltd.
Key Topics Covered
1. Introduction
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Primary Threat Perception
3.1.2. Military Doctrine & Strategy
3.1.3. Equipment of Qatari Military
3.1.4. Procurement Programs
3.1.5. Social, Political and Economic Environment & Support for Defense
Projects
3.1.6. Political & Strategic Alliances
3.2. Defense Market Size Historical and Forecast
3.2.1. Qatari defense budget to grow at a CAGR of 5.20% during 2020-2024
3.2.2. Military modernization program and strong cash reserves are the
main factors driving Qatari defense expenditure
3.2.3. Defense expenditure as a percentage of GDP to increase over the
forecast period
3.3. Analysis of Defense Budget Allocation
3.3.1. Procurement of advanced equipment to drive capital expenditure
allocation over the forecast period
3.3.2. Capital expenditure is expected to grow at a CAGR of 6.73% over
the forecast Period
3.3.3. Qatar's per capita defense expenditure is expected to increase
over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. Homeland security (HLS) expenditure in Qatar is mainly driven by
Maritime security, the FIFA World Cup 2022, and Cyber-Security
3.5. Benchmarking with Key Global Markets
3.5.1. Qatari defense budget expected to register rapid growth over
2020-2024
3.5.2. Qatari defense expenditure is small compared to the leading
spenders
3.5.3. Qatar spent over 3.2% of its GDP on defense in 2019
3.6. Market Opportunities: Key Trends and Drivers
3.6.1. Top 10 Defense Sectors by Value (US$ Million) - Projections over
2019-2024
3.6.2. Naval Vessels and MRO- Corvettes
3.6.3. Airborne C4ISR
3.6.4. Land-Based C4ISR
4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Qatari defense industry is import driven
4.1.2. US to continue to be major arms suppliers to Qatar
4.1.3. Aircraft and Missiles to dominate Qatari defense imports
4.2. Export Market Dynamics
4.2.1. Qatar's defense export market is negligible
5. Industry Dynamics
6. Market Entry Strategy
7. Competitive Landscape & Strategic Insights
8. Business Environment & Country Risk
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