Middle Eastern Defense Budget Overview 2023: Saudi-Israeli Normalization to Reshape the Market’s Competitive Landscape

DUBLIN, Jan. 19, 2024 /PRNewswire/ — The “Middle Eastern Defense Budget Overview, 2023” report has been added to ResearchAndMarkets.com’s offering.

The Middle Eastern defense market is constantly growing in light of significant regional geopolitical changes, military modernization efforts, and the Russo-Ukrainian War, accelerating demand for advanced weapon systems. Accordingly, the regional defense market is expected to grow at a higher rate than the global average, to more than 2.5% per annum, while global growth is about 2% per annum.

Regional growth accelerators are embodied in GCC countries’ drastically increased investments in defense budgets in light of the multi-pronged Iranian threat emerging on the other side of the Persian Gulf. Thus, the need to secure shipping lanes and the stability of the oil trade, along with the growing fear of attacks by Iranian-backed terrorist organizations and Iran’s nuclear ambitions, constitute a temporary imperative for GCC members to demonstrate advanced military capabilities and deter aggression.

In the business sphere, the market has experienced significant upheaval with the entry of new local companies into the market, such as giant defense OEMs in Saudi Arabia and the UAE, alongside the continued traditional Israeli dominance in these markets, which has intensified in the era following the Abraham Accords and the potential for normalization with Saudi Arabia. These changes directly affect the culture and business environment in the region, alongside regulatory changes and localization, and offset emerging new requirements by local participants.

This study seeks to review market trends in depth, point out restraints and accelerators to market growth, extensively present key deals and business cooperation between various defense corporations in the region, and review the defense budgets of the leading countries (2023-2025), alongside a thorough analysis of defense strategy, local business environment, and competitive landscape.

The study also points out key growth drivers, including digitalization, modernization, localization trends, and regional strategic changes that could affect the market map in the coming years. All this is presented alongside an analysis of emerging business models, changing needs, and extensive technological changes across various core military domains.

Key Topics Covered:

1 Strategic Imperatives

Why is it Increasingly Difficult to Grow?The Strategic Imperative The Impact of the Top 3 Strategic Imperatives on the Middle Eastern (ME) Defense IndustryGrowth Opportunities Fuel the Growth Pipeline Engine

2 Growth Opportunity Analysis

What You Need to Know FirstTrendsChallengesTotal ME Military Expenditure – 2023Leading ME Countries’ Defense Expenditure2023-2025ME Defense Market OverviewGrowth DriversGrowth Restraints

3 Market Overview

Market SegmentationKey Competitors in the Main Regional Military DomainsKSA – Defense Market OverviewKSA – Leading Military ProgramsKSA – Highlighted Defense Contracts, 2022-2023United Arab Emirates – Defense Market OverviewUnited Arab Emirates – Leading Military ProgramsUnited Arab Emirates – Highlighted Defense Contracts, 2022-2023Israel – Defense Market OverviewIsrael – Leading Military ProgramsIsraeli – Highlighted Defense Contracts, 2022-2023Qatar – Defense Market OverviewQatar – Leading Military ProgramsQatar – Highlighted Defense Contracts, 2022-2023Leading Regional Defense Business Partnerships

4 Conclusions and Future Outlook

5 Growth Opportunity Universe

Growth Opportunity 1: Regional Emerging Defense OEMs to Expand Opportunities in the ME Defense MarketGrowth Opportunity 2: Digitalization as a Key Factor for Regional Military ModernizationGrowth Opportunity 3: Saudi-Israeli Normalization to Reshape the Market’s Competitive Landscape

6 Appendix

NATO Military UAV ClassificationList of AbbreviationsList of ExhibitsLegal Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/fxfhew

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com 

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/middle-eastern-defense-budget-overview-2023-saudi-israeli-normalization-to-reshape-the-markets-competitive-landscape-302039338.html

SOURCE Research and Markets