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Future of the Saudi Arabian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018

Strategic Defence Intelligence
Published Date » 2013-04-16
No. Of Pages » 128

Product Synopsis

This report is the result of SDI's extensive market and company research covering the Saudi Arabian 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 Saudi Arabian 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 Saudi Arabian defense industry.

What is the current market landscape and what is changing?

Saudi Arabia is estimated to have the fourth largest defense budget in the world, behind the US, China, and Russia. Valued at US$52.9 billion in 2013, the country's defense expenditure is at the seventh position among the top 10 military spenders and is expected to grow at a CAGR of 7.92% to reach US$77.3 billion by 2018. Saudi Arabia's military expenditure as a percentage of GDP will from its current 7.3% to 9.1% by 2018 due to slowing economic growth over the forecast period. An underdeveloped domestic defense industry coupled with the country's high spending power presents ample opportunities for foreign OEMs to enter the market through an alliance route.

What are the key drivers behind recent market changes?

A strained relationship with Iran, high spending power, and the need to develop a skilled military force to be key factors driving defense expenditure. The Saudi Arabian government's hopes of strengthening its defense infrastructure in order to emerge as the most powerful nation in the Middle East have been supported by many years of high oil prices and strong economic growth. The rivalry between Saudi Arabia and Iran in the Middle East is a regional power struggle for influence, in which both sides have aimed at steering the course of events, shaping developments, and influencing decisions in the region according to their political preferences and interests. The fact that the Saudi's average defense expenditure as a percentage of GDP during the review period measured a significant 7.9% implies it has the purchasing power to procure state of the art defense equipment. In fact the country registered a figure of 7.3% with regards to its defense expenditure as a percentage of GDP, which was the highest among the world's largest military spenders for 2012.

What makes this report unique and essential to read?

The Future of the Saudi Arabian 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.

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 Saudi Arabian 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 Saudi Arabia. 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

  • Bribery and corruption have been prevalent in Saudi defense procurement for many years, largely due to the monopolistic status exercised by the government over the purchase decisions of its armed forces. According to Transparency International, Saudi Arabia has insufficient safeguards against corruption in the defense industry. For example, corruption charges were leveled against a unit of EADS UK with regards to US$3.3 billion communication contract and being investigated by the UK Serious Fraud Office over bribery allegations in the country.
  • Foreign investors may be deterred from entering the Saudi Arabian defense market because of scarcity of skilled labor, induced by the lack of industrial capabilities within the country. Nitaqat law makes it mandatory for the companies to have a minimum of 10% local employees and scarcity of skilled labor complicates the business environment for foreign companies. Although the government is focusing on making amendments, the non-employment rate has increased in recent years resulting in internal conflicts adding to the foreign companies' woes.

Key Highlights

  • The Saudi Arabian government's hopes of strengthening its defense infrastructure in order to emerge as the most powerful nation in the Middle East have been supported by many years of high oil prices and strong economic growth. Strained relationship with Iran: The rivalry between Saudi Arabia and Iran in the Middle East is a regional power struggle for influence, in which both sides have aimed at steering the course of events, shaping developments, and influencing decisions in the region according to their political preferences and interests. Over the past few months, relations between Saudi Arabia and Iran have been mired in tensions which are rooted in the Arab revolutions and Saudi Arabia's support of the West's sanctions against Iran. As a result of the Arab Spring, Saudi Arabia has lost the support of Egypt, its main ally in its leadership of the anti-Iran camp. Iran has also lost its main ally, Syria, which is currently fighting for its survival amid the wave of protests sweeping the country. The difference between the Iranian and the Saudi approaches to the events in Syria is worsening the tension between them. In addition, Saudi Arabia is deeply concerned about Iran's growing infiltration of Iraq, especially following the withdrawal of American troops from that country. In an effort to counter Iran's influence, the Saudi government has increased its focus on developing technologically superior military capabilities.
  • Saudi Arabia's homeland security market is being largely driven by increasing security threats, such as insurgents from Yemen, domestic terror groups, jihadists from Iraq, and its volatile relationship with Iran. The increasing incidence of Al-Qaeda training camps and domestic instability, due to the royal family's perceived disregard for traditional Muslim customs, further intensify domestic instability. Moreover, the nation's socio-economic situation adversely affects homeland security. Factors such as high unemployment rate, which stood at 12.1% in 2012, the rising level of poverty, and a lack of balanced economic development, all contribute to the growing prevalence of terrorism within the country. Given the chaos that the Middle East experienced over the past few years, especially with respect to the current civil war in Syria, the increasing activities of Islamic fundamentalist groups in countries such as Yemen, and the on-going insurgency related conflicts in Iraq, it is imperative for Saudi Arabia to strengthen its internal security forces to contain any potential threat within its territory.
  • The lack of a well-established defense industry forces Saudi Arabia to rely on imports from foreign companies. During 2008-2012, the country's defense imports increased significantly, peaking in 2011. Aircraft dominated the imports during this period, which the US and the UK 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 the similar trend. Aircraft accounted for 51.8% of total defense equipment imports by the country during 2008-2012 and Saudi Arabia is expected to follow the same trend over 2013-2017.
Table of Content

1 Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence

2 Executive Summary

3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size Historical and Forecast
3.1.1. Defense expenditure expected to grow at a CAGR of 7.92% over the forecast period
3.1.2. Strained relationship with Iran, high spending power, and the need to develop a skilled military force to be key factors driving defense expenditure
3.1.3. Saudi Arabian defense expenditure as a percentage of GDP expected to increase
3.2. Analysis of Defense Budget Allocation
3.2.1. Large spending on training of personnel expected to continue
3.2.2. Military modernization drives Defense Capital Expenditure
3.2.3. Per capita defense expenditure expected to increase over the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Saudi Arabia is expected to be the second largest homeland security spender in world, after the US, over the forecast period
3.3.2. Internal Security threat and Energy infrastructure protection will be the key drivers of homeland security
3.3.3. Saudi Arabia considered at 'moderately affected' of terrorist attack
3.4. Benchmarking with Key Global Markets
3.4.1. Saudi Arabia to be among the fastest-growing defense spenders
3.4.2. Saudi Arabia tops the leading military spenders in terms of defense expenditure as a percentage of GDP
3.4.3. Saudi Arabia faces moderate risk of terror attacks
3.5. Market Opportunities: Key Trends and Drivers
3.5.1. Fighters and Multi-Role Aircraft
3.5.2. Attack Helicopters
3.5.3. Border Security
3.5.4. Main Battle Tanks
3.5.5. Cyber Security
3.5.6. Air Defense Missile Systems
3.5.7. Homeland Security Infrastructure

4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Defense industry heavily relies on imports from foreign countries
4.1.2. The UK and the US are the key defense suppliers to Saudi Arabia
4.1.3. Aircraft to dominate the Saudi Arabian defense imports
4.2. Export Market Dynamics
4.2.1. Saudi Arabia's defense export market is negligible

5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: medium
5.1.2. Bargaining power of buyer: medium to high
5.1.3. Barrier to entry: low to medium
5.1.4. Intensity of rivalry: high
5.1.5. Threat of substitution: high

6 Market Entry Strategy
6.1. Market Regulation
6.1.1. Defense industry remains closed to FDI
6.1.2. Offset Program to aid defense industry and economy
6.2. Market Entry Route
6.2.1. Double digit growth and underdeveloped domestic industry attracts foreign defense players
6.2.2. A large number of foreign corporations enter the defense market by winning contracts
6.3. Key Challenges
6.3.1. Bribery, corruption, and political affiliations
6.3.2. Scarcity of skilled Labor and Nitaqat law

7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Saudi Arabian defense sector is dominated by foreign competitors
7.1.2. Domestic participation in the Saudi Arabian defense industry limited to only two companies
7.2. Key Foreign Companies
7.2.1. BAE Systems Plc.: overview
7.2.2. BAE Systems Plc.: products and services
7.2.3. BAE Systems Plc.: recent announcements and strategic initiatives
7.2.4. BAE Systems Plc.: alliances
7.2.5. BAE Systems Plc.: recent contract wins
7.2.6. BAE Systems Plc.: financial analysis
7.2.7. EADS N.V.: overview
7.2.8. EADS N.V.: products and services
7.2.9. EADS N.V.: recent announcements and strategic initiatives
7.2.10. EADS N.V.: alliances
7.2.11. EADS N.V.: recent contracts wins
7.2.12. EADS N.V.: financial analysis
7.2.13. General Dynamics Corporation: overview
7.2.14. General Dynamics Corporation: products and services
7.2.15. General Dynamics Corporation: alliances
7.2.16. General Dynamics Corporation: recent contract wins
7.2.17. Lockheed Martin: overview
7.2.18. Lockheed Martin: products and services
7.2.19. Lockheed Martin: recent announcements and strategic initiatives
7.2.20. Lockheed Martin: alliances
7.2.21. Lockheed Martin: recent contract wins
7.2.22. Science Applications International Corporation: overview
7.2.23. Science Applications International Corporation: products and services
7.2.24. Science Applications International Corporation: alliances
7.2.25. Science Applications International Corporation: recent contract wins
7.2.26. Sikorsky Aircraft Corporation: overview
7.2.27. Sikorsky Aircraft Corporation: products and services
7.2.28. Sikorsky Aircraft Corporation: recent announcements and strategic initiatives
7.2.29. Sikorsky Aircraft Corporation: alliances
7.2.30. Sikorsky Aircraft Corporation: recent contract wins
7.2.31. Thales: overview
7.2.32. Thales: products and services
7.2.33. Thales: recent announcements and strategic initiatives
7.2.34. Thales: alliances
7.2.35. Thales: recent contract wins
7.2.36. Boeing: overview
7.2.37. Boeing: products and services
7.2.38. Boeing: recent announcements and strategic initiatives
7.2.39. Boeing: alliances
7.2.40. Boeing: recent contract wins
7.2.41. Northrop Grumman Corporation: overview
7.2.42. Northrop Grumman Corporation: products and services
7.2.43. Northrop Grumman Corporation: recent announcements and strategic initiatives
7.2.44. Northrop Grumman Corporation: alliances
7.2.45. Northrop Grumman Corporation: recent contract wins
7.3. Key Domestic Companies
7.3.1. Advanced Electronics Company: overview
7.3.2. Advanced Electronics Company: products and services
7.3.3. Advanced Electronics Company: recent announcements and strategic initiatives
7.3.4. Advanced Electronics Company: alliances
7.3.5. Advanced Electronics Company: recent contract wins
7.3.6. Al Salam Aircraft Company: overview
7.3.7. Al Salam Aircraft Company: products and services
7.3.8. Al Salam Aircraft Company: alliances
7.3.9. Al Salam Aircraft Company: recent contract wins

8 Business Environment and Country Risk
8.1. Demographics and Social Statistics
8.1.1. Population - Rural
8.1.2. Population - Urban
8.1.3. Population - Number of Households
8.2. Economic Performance
8.2.1. GDP per Capita
8.2.2. Gross Domestic Product
8.2.3. Exports of goods and services, US$
8.2.4. Imports of goods and services, US$
8.2.5. Gross National Disposable Income
8.2.6. Consumer Price Index
8.2.7. Wholesale price Index
8.2.8. LCU per US$ (period average)
8.2.9. LCU per Euro (period average)
8.2.10. Market Capitalization of listed companies (US$ Bn)
8.2.11. Market Capitalization of listed companies (as a % of GDP)
8.2.12. Goods Exports as a % of GDP
8.2.13. Goods Imports as a % of GDP
8.2.14. Trade surplus/deficit as a % of GDP
8.2.15. Services Imports as a % of GDP
8.2.16. Services Exports as a % of GDP
Figure 51: Saudi Services Exports as a % of GDP, 2002-2011 111
8.2.17. Services Trade surplus/deficit as a % of GDP
8.2.18. Net Foreign Direct Investment (current US$ Bn)
8.2.19. Net FDI as a % of GDP
8.2.20. International reserves, including gold
8.3. Energy and Utilities
8.3.1. Total Conventional Thermal Electricity Net Generation
8.3.2. Nuclear Electricity Net Generation
8.3.3. Total Conventional Thermal Electricity Installed Capacity
8.3.4. Proved Reserves of Natural Gas
8.3.5. Total Petroleum Consumption
8.3.6. Crude Oil Proved Reserves
8.4. Infrastructure Quality and Availability
8.4.1. Rail lines (total route-km)
Figure 62: Saudi Arabian Rail lines (total route-km), 2001-2010 122
8.4.2. Air Transport, freight (million ton-km)
8.5. Technology
8.5.1. Research and development expenditure
8.5.2. Patents Granted
8.6. Telecommunication
8.6.1. Telephone Lines
8.6.2. Telephone lines Penetration Rate

9 Appendix
9.1. About SDI
9.2. Disclaimer

List of Tables


Table 1: Saudi Arabian Defense Expenditure, 2009-2013 
Table 2: Saudi Arabian Defense Expenditure, 2014-2018 
Table 3: Saudi Arabian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2009-2013 
Table 4: Saudi Arabian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2014-2018 
Table 5: Saudi Arabian Defense Budget Split Between Capital and Revenue Expenditure (%),  2009-2013 
Table 6: Saudi Arabian Defense Budget Split Between Capital and Revenue Expenditure (%),  2014-2018 
Table 7: Saudi Arabian Defense Capital Expenditure (US$ Bn), 2009 - 2013 
Table 8: Saudi Arabian Defense Capital Expenditure (US$ bn), 2014 - 2018 
Table 9: Saudi Arabian Per Capita Defense Expenditure (US$), 2009-2013 
Table 10: Saudi Arabian Per Capita Defense Expenditure (US$), 2014-2018 
Table 11: Saudi Arabian Homeland Security budget, 2009-2013 
Table 12: Saudi Arabian Homeland Security budget, 2014-2018 
Table 13: Benchmarking with Key Markets - 2008-2012 vs. 2013-2017 
Table 14: SDI Terrorism Index 
Table 15: Saudi Arabia - Offset Guidelines and Agreements 
Table 16: Market Entry and Strategic Objectives of Key Foreign Competitors 
Table 17: Market Entry by Key Foreign Competitors 
Table 18: Competitive Landscape of the Saudi Arabian Defense Industry 
Table 19: BAE Systems Plc - Product Focus 
Table 20: BAE Systems Plc - Alliances 
Table 21: BAE Systems Plc - Recent Contract Wins 
Table 22: EADS N.V. - Product Focus 
Table 23: EADS N.V. - Alliances 
Table 24: EADS N.V. - Recent Contract Wins 
Table 25: General Dynamics Corporation - Product Focus 
Table 26: General Dynamics Corporation - Alliances 
Table 27: General Dynamics Corporation - Recent Contract Wins 
Table 28: Lockheed Martin - product focus 
Table 29: Lockheed Martin - Alliances 
Table 30: Lockheed Martin - Recent Contract Wins 
Table 31: Science Applications International Corporation  -  product focus 
Table 32: Science Applications International Corporation - Alliances 
Table 33: Science Applications International Corporation - Recent Contract Wins 
Table 34: Sikorsky Aircraft Corporation - product focus 
Table 35: Sikorsky Aircraft Corporation - Alliances 
Table 36: Sikorsky Aircraft Corporation - Recent Contract Wins 
Table 37: Thales - product focus 
Table 38: Thales - Alliances 
Table 39: Thales - Recent Contract Wins 
Table 40: Boeing - product focus 
Table 41: Boeing - Alliances 
Table 42: Boeing - Recent Contract Wins 
Table 43: Northrop Grumman Corporation -  product focus 
Table 44: Northrop Grumman Corporation - Alliances 
Table 45: Northrop Grumman Corporation - Recent Contract Wins 
Table 46: Advanced Electronics Company - product focus 
Table 47: Advanced Electronics Company - Alliances 
Table 48: Advanced Electronics Company - Recent Contract Wins 
Table 49: Al Salam Aircraft Company - product focus 
Table 50: Al Salam Aircraft Company - Alliances 
Table 51: Al Salam Aircraft Company - Recent Contract Wins

List of Figures


Figure 1: Saudi Arabian Defense Expenditure, 2009-2013 
Figure 2: Saudi Arabian Defense Expenditure, 2014-2018 
Figure 3: Saudi Arabian GDP Growth vs. Defense Expenditure Growth and Defense Expenditures  Percentage of GDP Growth, 2009-2013 
Figure 4: Saudi Arabian GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as  Percentage of GDP Growth, 2014-2018 
Figure 5: Saudi Arabian Defense Budget Split Between Capital and Revenue Expenditure (%), 2009-2013 
Figure 6: Saudi Arabian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2018 
Figure 7: Saudi Arabian Defense Capital Expenditure (US$ bn), 2009-2013 
Figure 8: Saudi Arabian Defense Capital Expenditure (US$ Bn), 2014-2018 
Figure 9: Saudi Arabian Per Capita Defense Expenditure (US$), 2009-2013 
Figure 10: Saudi Arabian Per Capita Defense Expenditure (US$), 2014-2018 
Figure 11: Saudi Arabian Homeland Security budget, 2009-2013 
Figure 12: Saudi Arabian Homeland Security budget, 2014-2018 
Figure 13: SDI Terrorism Heat Map, 2011 
Figure 14: SDI Terrorism Index, 2012 
Figure 15: Benchmarking with Key Markets - 2008-2012 vs. 2013-2017 
Figure 16: Benchmarking with World's Largest Defense Spenders (US$ Billion),  2012 and 2017 
Figure 17: Benchmarking with Large Defense Spenders as % of GDP - 2012 
Figure 18: Fighters and Multi-Role Aircraft Market Size (US$ Billion), 2013 - 2023 
Figure 19: Attack Helicopters Market Size (US$ Billion), 2013 - 2023 
Figure 20: Border Security Market Size (US$ Billion), 2013 - 2023 
Figure 21: Main Battle Tank Market Size (US$ Billion), 2013 - 2023 
Figure 22: Cyber Security Market Size (US$ Million), 2013 - 2023 
Figure 23: Air Defense Missile Systems Market Size (US$ Million), 2013 - 2023 
Figure 24: Homeland Security Infrastructure Market Size (US$ Billion), 2013 - 2023 
Figure 25: Saudi Arabian Defense Import Trend, 2008-2012 (TIV values) 
Figure 26: Saudi Arabian Defense Imports by Country (%), 2008-2012 
Figure 27: Saudi Arabian Defense Imports by Weapon Category (%), 2008-2012 
Figure 28: Industry Dynamics - Porter's Five Forces Analysis 
Figure 29: BAE Systems Plc - Revenue Trend Analysis (US$ Billion), 2008-2012 
Figure 30: BAE Systems Plc - Net Profit Trend Analysis (US$ Million), 2008-2012 
Figure 31: EADS N.V. - Revenue Trend Analysis (US$ Billion), 2008-2012 
Figure 32: EADS N.V. - Net Profit Trend Analysis ((US$ Million), 2008-2012 
Figure 33: Saudi Arabian Population - Rural (In Millions), 2009-2018 
Figure 34: Saudi Arabian Population - Urban (In Millions), 2009-2018 
Figure 35: Saudi Arabian Population - Number of Households (In Millions), 2009-2018 
Figure 36: Saudi Arabian GDP per Capita (US$), 2008-2017 
Figure 37: Saudi Arabian GDP (current US$ bn), 2009-2018 
Figure 38: Saudi Arabian Exports of goods and services (current US$ Bn), 2002-2011 
Figure 39: Saudi Arabian Exports of goods and services (current US$ Bn), 2002-2011 
Figure 40: Saudi Arabian Gross National disposable income (US$ Bn), 2002- 2011 
Figure 41: Saudi Arabian Consumer Price Index, 2009-2018 
Figure 42: Saudi Arabian Wholesale price Index, 2002-2011 
Figure 43: Saudi Arabian LCU per US$, 2009-2018 
Figure 44: Saudi Arabian LCU per Euro, 2009-2018 
Figure 45: Saudi Arabian Market Capitalization of listed companies (US$ Bn), 2002-2011 
Figure 46: Saudi Arabian Market Capitalization of listed companies (as a % of GDP), 2002-2011 
Figure 47: Saudi Arabian Goods exports as a % of GDP, 2002-2011 
Figure 48: Saudi Arabian Goods Imports as a % of GDP, 2002-2011 
Figure 49: Saudi Arabian Trade surplus/deficit as a % of GDP, 2002-2011 
Figure 50: Saudi Arabian Services Imports as a % of GDP, 2002-2011 
Figure 51: Saudi Services Exports as a % of GDP, 2002-2011 
Figure 52: Saudi Arabian Services Trade surplus/deficit as a % of GDP, 2002-2011 
Figure 53: Saudi Arabian net Foreign Direct Investment (current US$ Bn), 2002-2011 
Figure 54: Saudi Arabian Net FDI as a % of GDP, 2002-2011 
Figure 55: Saudi Arabian International reserves, including gold (US$ Bn), 2002-2011 
Figure 56: Saudi Arabian Total Conventional Thermal Electricity net Generation (Bn kwh),                  2001-2010 
Figure 57: Saudi Arabian Nuclear Electricity Net Generation (Bn Kwh), 2001-2010 
Figure 58: Saudi Arabian Total Conventional Thermal Electricity Installed Capacity (Mn kwh), 2001-2010 
Figure 59: Saudi Arabian Proved Reserves of Natural Gas (Trillion Cubic Feet), 2002-2011 
Figure 60: Saudi Arabian Total Petroleum Consumption (Thousand Barrels per Day), 
Figure 61: Saudi Arabian Crude Oil Proved Reserves (Bn Barrels), 2002-2011 
Figure 62: Saudi Arabian Rail lines (total route-km), 2001-2010 
Figure 63: Saudi Arabian Air Transport, freight (million ton-km), 2001-2010 
Figure 64: Saudi Arabian Research and development expenditure, 2003-2009 
Figure 65: Saudi Arabian Patents Granted, 2002-2011 
Figure 66: Saudi Arabian Telephone Lines (in Millions), 2001-2010 
Figure 67: Saudi Arabian Telephone lines Penetration Rate (per 100 people), 2002-2011

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