- The Nigerian defense market, valued at US$1.8 billion in 2016, is expected to see sustained growth over the next five years, to reach US$2.1 billion by 2021. The growing threat from Boko Haram, piracy, oil smuggling in the Gulf of Guinea, and contributions to peacekeeping operations, are expected to drive the country's military expenditure, registering a growth rate of 3.73% over the forecast period.
- On a cumulative basis, the country is expected to invest US$9.9 billion for defense purposes, of which US$3.4 billion is earmarked for capital expenditure to fund defense procurements. The government's well-defined military modernization plans to counter influence of narco-terrorists, drug traffickers and weapon traffickers is expected to fuel procurement of defense equipment.
- The MoD is expected to invest in fighters and multi-role aircraft, Infantry fighing vehicles, attack helicopters, and transport aircrafts over the coming years.
This report offers detailed analysis of the Nigerian defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.In particular, it provides an in-depth analysis of the following:
- The Nigerian defense industry market size and drivers: detailed analysis of the Nigerian defense industry during 2017-2021, 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
- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to the army, navy, and air force. It also details the key challenges faced by defense market participants within the country
- Porter's Five Force analysis of the Nigerian defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry
- Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years
- Market opportunities: details of the top five defense investment opportunities over the next 10 years
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Nigerian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis
Reasons To Buy
- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Nigerian defense industry market trends for the coming five years
- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
- Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
- A deep qualitative analysis of the Nigerian defense industry covering sections including demand drivers, Porter's Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts
Read the full report:
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