Researchmoz presents this most up-to-date research on"Future of the Omani Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018".The report focuses primarily on quantitative market metrics in order to characterize the growth and evolution of the Remote Patient Monitoring Market.
This report is the result of SDI's extensive market and company research covering the Omani defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the Omani Defense Industry - Market Attractiveness, Competitive Landscape, and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Omani defense industry.
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Future of the Angolan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
Angolan defense market, valued at US$5.8 billion in 2013, is expected to see a single digit growth rate over the forecast period, to reach US$8.7 billion by 2018. Equipment modernization and border security are expected to drive the country's military expenditure to register a growth rate of 8.54% over the forecast period. The growth in military expenditure will be supported by the country's stable economy over the forecast period, which will see rise in defense expenditure as a percentage of GDP from 4.6% in 2013, to 5.0% in 2018. Angola's capital defense expenditure is expected to increase from US$0.5 billion in 2013 to US$0.8 billion by 2018, while its share in total expenditure is expected to grow from an average of 4.4% during the review period, to 9.4% over the forecast period.
What is the current market landscape and what is changing?
With the aim of heightening its strategic importance in the Middle East, joined the ongoing arms race in the last two years. The country posted the highest defense expenditure growth in the region to reach US$9.2 billion in 2013, ably supported by the additional revenue created due to the increase in oil prices. Over the forecast period, the Omani defense expenditure is estimated to post a healthy growth rate of 6.76% to reach US$13 billion by 2018. The country's cumulative expenditure on the procurement of advanced military hardware is projected to be US$11.0 billion over the next five years, creating opportunities for suppliers and OEMs. The under developed domestic industry propels the government to import the required defense equipment from overseas companies, which can gain access to the Omani market either through direct contracts or by attaching themselves to defense deals signed between the country and respective government. Fighter jets, missiles, air defense systems, and communication equipment are the most sought after categories by the Omani government.
What are the key drivers behind recent market changes?
The arms race in the Middle East is expected to be a key factor driving defense expenditure
What makes this report unique and essential to read?
The Future of the Omani Defense Industry - Market Attractiveness, Competitive Landscape, and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
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Key Features and Benefits
- The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
- The report includes trend analysis of imports and exports, together with their implications and impact on the Omani defense industry.
- The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
- The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
- The report helps the reader to understand the competitive landscape of the defense industry in Oman. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
- Foreign investors may be deterred from entering the Omani defense market because of a scarcity of skilled labor, induced by the lack of industrial capabilities within the country. Although the government is focusing on making amendments, the unemployment rate has increased in recent years resulting in internal conflicts, which have added to the foreign companies' woes.
- Historically, companies based in the UK and the US have dominated the Omani defense market owing to their strategic and military relations with it. Oman receives military and financial help from the US in return of use of its military bases by the American troops. Apart from these two countries, Oman maintains strong defense ties with France and procured substantial equipment during the review period. Oman's close relationship with the UK, the US and France is set to continue in the forecast period as a result of its dependence on their companies for the maintenance and life support of its equipment and weapons. As long as these relationships remain constant, suppliers from these three countries are set to dominate the Omani defense market, intensifying the rivalry in the market.
- Over the last decade, the Middle East has witnessed a gradual decline in its overall security, owing to a rise in extremism, sectarian violence, and insurgency. This, coupled with an increase in the countries' purchasing power, has led to an arms race in the region. Substantial weapons deals signed during the last couple of years and a huge potential for further procurement has made arms suppliers take notice of the opportunities available in the region. Oman's neighbors, such as Saudi Arabia, UAE, and Bahrain, are focusing heavily on the procurement of advanced weapons to counter nuclear powered Iran. Oman maintains strong diplomatic relationships with both the US and Iran, and faces reduced threat levels from both internal and external factors. However, despite its current neutral stance, the country may be forced to join its neighbors in coalition against Iran. This has propelled Oman to invest in building its defense capabilities and join the ongoing arms race in the region in the last two years. The country's military modernization efforts are also aimed at increasing its visibility in the defense arena and becoming the substantial contributor in the Gulf Cooperation Committee (GCC).
- Oman has substantial oil reserves, and oil exports are the primary contributor to its economy. The country's offshore oil exploration infrastructure is threatened by various militant groups and Al-Qaeda. Oman employs the services of the National Guard, a semiautonomous body, which has guard duties on the border and at oil fields, utilities, and other strategic locations. In addition, its Navy started procuring patrol vessels and frigates for the protection of its maritime oil trade routes. Oman is expected to continue to invest in the protection of its oil industry, which will create market opportunities for technologies catering to the identification and access control, surveillance, perimeter protection, information technology security, and command, control, communications and intelligence (C3I) markets.
- The lack of a well-established infrastructure to produce defense equipment domestically has made Oman rely on imports from foreign companies. During the review period, the country's defense imports peaked in 2012 after sharp drop during 2010-2011. Aircraft dominated the imports during this period, with the US and France being the preferred sources. Major contracts signed during 2011-2012 will drive the country's imports over the forecast period, which is expected to see substantial growth.
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