Future of the Kuwaiti Defense Industry - Market Attractiveness, Competitive Landscape, and Forecasts to 2020

Future of the Kuwaiti Defense Industry - Market Attractiveness, Competitive Landscape, and Forecasts to 2020

Code: SDI-DF0349MR | Published: Dec-2015 | Pages: 92 | Strategic Defence Intelligence
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Kuwait has a defense budget of US$4.1 billion in 2015, and is expected to cumulatively spend US$20.2 billion on its military over the forecast period. The countrys military expenditure is expected to grow at a CAGR of 2.48% to reach US$4.3 billion in 2020, compared to the -3.02% CAGR recorded during the historic period. The countrys defense budget is mainly driven by its strained relationship with Iraq and investment in developing the indigenous defense industry to increase its visibility in the defense arena.

Key Findings
- Over the historic period, Kuwaits defense expenditure registered a growth rate of -3.02%, decreasing from US$4.6 billion in 2011 to US$4.1 billion in 2015

- Kuwaits military expenditure, valued at US$4.1 billion in 2015, is expected to increase to US$4.3 billion by 2020, registering a CAGR of 2.48% over the forecast period

- Kuwaiti military expenditure will be driven by the countrys relationship with Iraq, and military modernization programs ably supported by additional revenue created by a rise in petroleum prices

- The Defense Ministry is expected to procure missile defense systems, aircraft, and naval vessels

Synopsis
Strategic Defense Intelligences Kuwaiti Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2020 report offers detailed analysis with market size forecasts for 2016-2020. The factors that influence demand, key market trends, and challenges faced by industry participants are also covered.

In particular, it provides an in-depth analysis of the following:

- Defense industry market size from 2016-2020, including highlights of the demand drivers and growth stimulators: a snapshot of the countrys expenditure and modernization patterns are provided

- 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. The key challenges faced by defense market participants within the country are also detailed

- Porters five forces analysis: study the market characteristics by determining the bargaining power of suppliers, buyers, threat of substitution, intensity of rivalry, and barriers to entry

- Import and export dynamics: review the prevalent trends in the countrys imports and exports over the last five years

- Market opportunities: identify the top five defense investment opportunities from 2015 to 2025

- Competitive landscape and strategic insights: including an overview of leading players, key alliances, strategic initiatives, and a brief financial analysis

Reasons To Buy
- Identify and track the global defense market and make regional comparisons to effectively target new revenue streams

- Understand the importance of being led by defense ministries in the military procurement market and define your strategies with insight on what your customers really want by analyzing recent orders, technical specifications, and the countrys expected investment pattern during 2016-2020

- Make correct business decisions based on a detailed analysis of the industry from 2016-2020, which includes a total competitive landscape of the sector with detailed profiles of the top domestic and foreign defense manufacturers along with information about their products, alliances, recent contract wins, and financial analysis

- Determine prospective investment areas by gaining an in-depth understanding of the industry in terms of market opportunities

- Channelize resources by identifying various military requirements that are expected to generate revenues across different sectors during 2016-2020

Table of Contents

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 cumulatively value US$20.2 billion over the forecast period
3.1.2. The border dispute with Iraq and military modernization program are expected to be key factors driving defense expenditure
3.1.3. Defense budget as a percentage of GDP expected to average 2.6% over the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Capital expenditure allocation to increase over the forecast period
3.2.2. Capital expenditure is expected to grow at a CAGR of 3.35% over the forecast period
3.2.3. Per capita defense expenditure expected to decrease over the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. The homeland security budget is expected to grow over the forecast period at a CAGR of 3.38%
3.3.2. Cyber threats, the illegal drug trade, and human trafficking will be the key factors driving homeland security
3.3.3. Kuwait considered at low risk of terrorist attack
3.4. Benchmarking with Key Global Markets
3.4.1. Kuwaitis a comparatively low defense spender
3.4.2. The country has a relatively low defense budget compared to other Middle Eastern nations
3.4.3. Kuwaiti defense expenditure as a percentage of GDP expected to decrease
3.4.4. Kuwait faces low threat from foreign terrorist organizations
3.5. Market Opportunities: Key Trends and Drivers
3.5.1. Demand for missile defense systems is expected to increase
3.5.2. Demand for military aircraft to increase
3.5.3. Defense for naval ships expected to increase over the forecast period
4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Kuwaiti defense industry is import driven
4.1.2. Kuwait imports the majority of its arms from the US and Russia
4.1.3. Aircraft and Missiles to dominate Kuwaiti defense imports
4.2. Export Market Dynamics
4.2.1. Kuwaits defense export market is negligible
5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: high
5.1.2. Bargaining power of buyer: medium to high
5.1.3. Barrier to entry: medium
5.1.4. Intensity of rivalry: low to medium
5.1.5. Threat of substitution: high
6 Market Entry Strategy
6.1. Market Regulation
6.1.1. The Kuwaiti Government does not disclose FDI in the defense industry
6.1.2. Offset Policy aids transfer of advanced technologies and their integration into the local economy
6.2. Market Entry Route
6.2.1. Foreign Military Sales (FMS) is the preferred entry route
6.2.2. Gulf Co-operation Council (GCC) to form joint Military Command, which could be an alternative entry route for foreign OEMs
6.3. Key Challenges
6.3.1. The US and Russia dominate the market, posing challenges to other foreign firms
6.3.2. Scarcity of skilled labor
7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Kuwaiti defense sector is dominated by foreign competitors
7.2. Key Foreign Companies
7.2.1. Lockheed Martin: overview
7.2.2. Lockheed Martin: products and services
7.2.3. Lockheed Martin: recent announcements and strategic initiatives
7.2.4. Lockheed Martin: recent contract wins
7.2.5. Raytheon: Overview
7.2.6. Raytheon: Major Products and Services
7.2.7. Raytheon: Recent Announcements and Strategic Initiatives
7.2.8. Raytheon: Contracts
7.2.9. Abu Dhabi Ship Building PJSC: Overview
7.2.10. Abu Dhabi Ship Building PJSC: Contracts
7.2.11. Boeing: Overview
7.2.12. Boeing: Recent Announcements and Strategic Initiatives
7.2.13. Boeing: Contracts
8 Business Environment and Country Risk
8.1. Demographics and Social Statistics
8.1.1. Population - Rural
8.1.2. Population - Urban
8.2. Economic Performance
8.2.1. GDP per Capita
8.2.2. Gross Domestic Product
8.2.3. Exports of Goods and Services
8.2.4. Imports of Goods and Services
8.2.5. Manufacturing Output
8.2.6. Consumer Price Index
8.2.7. LCU per Euro (period average)
8.2.8. Lending Rate (%)
8.2.9. Deposit Rate
8.2.10. Real Interest Rate
8.2.11. Market Capitalization of Listed Companies
8.2.12. Market Capitalization of listed companies as a % GDP
8.2.13. Total Government cash surplus/deficit
8.2.14. Total Government cash surplus/deficit as % of GDP
8.2.15. Goods Exports as a % of GDP
8.2.16. Goods Imports as a % of GDP
8.2.17. Goods Trade Surplus/Deficit as a % of GDP
8.2.18. Services Imports as a % of GDP
8.2.19. Services Exports as a % of GDP
8.2.20. Services Trade Surplus/Deficit as a % of GDP
8.2.21. Net Foreign Direct Investment
8.2.22. Net Foreign Direct Investment as % of GDP
8.2.23. International reserves, including gold
8.3. Energy and Utilities
8.3.1. Total Conventional Thermal Electricity Net Generation
8.3.2. Total Conventional Thermal Electricity Installed Capacity
8.3.3. Total Petroleum Consumption
8.4. Minerals
8.4.1. Mining, Manufacturing, Utilities Output
8.5. Telecommunication
8.5.1. Telephone Lines
8.5.2. Telephone lines Penetration Rate
9 Appendix
9.1. About SDI
9.2. Disclaimer


List of Tables


Table 1: Kuwaiti Defense Expenditure (US$ Billion), 2011-2015
Table 2: Kuwaiti Defense Expenditure (US$ Billion), 2016-2020
Table 3: Kuwaiti Defense Expenditure (KWD Billion), 2011-2015
Table 4: Kuwaiti Defense Expenditure (KWD Billion), 2016-2020
Table 5: Kuwaiti GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2011-2015
Table 6: Kuwaiti GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2016-2020
Table 7: Kuwaiti Defense Budget Split Between Capital and Revenue Expenditure (%), 2011-2015
Table 8: Kuwaiti Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2020
Table 9: Kuwaiti Defense Capital Expenditure (US$ Million), 2011- 2015
Table 10: Kuwaiti Defense Capital Expenditure (US$ Million), 2016-2020
Table 11: Kuwaiti Defense Capital Expenditure (KWD Million), 2011-2015
Table 12: Kuwaiti Defense Capital Expenditure (KWD Million), 2016-2020
Table 13: Kuwaiti Per Capita Defense Expenditure (US$), 2011-2015
Table 14: Kuwaiti Per Capita Defense Expenditure (US$), 2016-2020
Table 15: Kuwaiti Homeland Security Budget (US$ Billion), 2011-2015
Table 16: Kuwaiti Homeland Security Budget (US$ Billion), 2016-2020
Table 17: Kuwaiti Homeland Security Budget (KWD Billion), 2011-2015
Table 18: Kuwaiti Homeland Security Budget (KWD Billion), 2016-2020
Table 19: Benchmarking with Key Markets - 2011-2015 vs. 2016-2020
Table 20: SDI Terrorism Index
Table 21: Offset Regulations in Kuwait
Table 22: Lockheed Martin - Product Focus
Table 23: Lockheed Martin- Recent Contract Wins
Table 24: Raytheon - Major Products and Services
Table 25: Raytheon - Contracts
Table 26: Abu Dhabi Ship Building PJSC - Contracts
Table 27: Boeing - Contracts


List of Figures


Figure 1: Kuwaiti Defense Expenditure (US$ Billion), 2011-2015
Figure 2: Kuwaiti Defense Expenditure (US$ Billion), 2016-2020
Figure 3: Kuwaiti Defense Expenditure (KWD Billion), 2011-2015
Figure 4: Kuwaiti Defense Expenditure (KWD Billion), 2016-2020
Figure 5: Kuwaiti GDP Growth vs. Defense Expenditure Growth and Defense Expenditures Percentage of GDP Growth, 2011-2015
Figure 6: Kuwaiti GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2016-2020
Figure 7: Kuwaiti Defense Budget Split Between Capital and Revenue Expenditure (%), 2011-2015
Figure 8: Kuwaiti Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2020
Figure 9: Kuwaiti Defense Capital Expenditure (US$ Million), 2011-2015
Figure 10: Kuwaiti Defense Capital Expenditure (US$ Million), 2016-2020
Figure 11: Kuwaiti Defense Capital Expenditure (KWD Million), 2011-2015
Figure 12: Kuwaiti Defense Capital Expenditure (KWD Million), 2016-2020
Figure 13: Kuwaiti Per Capita Defense Expenditure (US$), 2011-2015
Figure 14: Kuwaiti Per Capita Defense Expenditure (US$), 2016-2020
Figure 15: Kuwaiti Homeland Security Budget (US$ Billion), 2011-2015
Figure 16: Kuwaiti Homeland Security Budget (US$ Billion), 2016-2020
Figure 17: Kuwaiti Homeland Security Budget (KWD Billion), 2011-2015
Figure 18: Kuwaiti Homeland Security Budget (KWD Billion), 2016-2020
Figure 19: SDI Terrorism Heat Map, 2015
Figure 20: SDI Terrorism Index, 2015
Figure 21: Benchmarking with Key Markets - 2011-2015 vs. 2016-2020
Figure 22: Benchmarking with Worlds Largest Defense Spenders (US$ Billion), 2015 and 2020
Figure 23: Benchmarking with large defense spenders as % of GDP - 2015
Figure 24: Kuwaiti Defense Import Trend, 2010-2014 (TIV values)
Figure 25: Kuwaiti Defense Imports by Country (%), 2010-2014
Figure 26: Kuwaiti Defense Imports by Weapon Category (%), 2010-2014
Figure 27: Industry Dynamics - Porters Five Forces Analysis
Figure 28: Kuwaiti Population - Rural (In Million), 2014-2023
Figure 29: Kuwaiti Population - Urban (In Million), 2014-2023
Figure 30: Kuwaiti GDP per Capita (US$), 2014-2023
Figure 31: Kuwaiti GDP (current US$ bn), 2014-2023
Figure 32: Kuwaiti Exports of goods and services (current US$ Bn), 2002-2011
Figure 33: Kuwaiti Imports of goods and services (current US$ Bn), 2002-2011
Figure 34: Kuwaiti Manufacturing Output (US$ Bn), 2002-2011
Figure 35: Kuwaiti Consumer Price Index, 2014-2023
Figure 36: Kuwaiti LCU per Euro, 2014-2023
Figure 37: Kuwaiti Lending Rate (%), 2002-2011
Figure 38: Deposit Rate (%), 2002-2011
Figure 39: Kuwaiti Real Interest Rate (%), 2002-2011
Figure 40: Kuwaiti Market Capitalization of listed companies (US$ Bn), 2003-2012
Figure 41: Kuwaiti Market Capitalization of listed companies (%of GDP), 2002-2011
Figure 42: Kuwaiti Total Government cash surplus/deficit (LCU Bn), 2002-2011
Figure 43: Kuwaiti Total Government cash surplus/deficit as % of GDP, 2002-2011
Figure 44: Kuwaiti Goods Exports as a % of GDP, 2001-2010
Figure 45: Kuwaiti Goods Imports as a % of GDP, 2001-2010
Figure 46: Kuwaiti Goods Trade Surplus/Deficit as a % of GDP, 2001-2010
Figure 47: Kuwaiti Services Imports as a % of GDP, 2001-2010
Figure 48: Kuwaiti Services Exports as a % of GDP, 2001-2010
Figure 49: Kuwaiti Services Trade Surplus/Deficit as a % of GDP, 2001-2010
Figure 50: Kuwaiti Net Foreign Direct Investment (US$ Bn), 2001-2010
Figure 51: Kuwaiti Net Foreign Direct Investment as % of GDP, 2001-2010
Figure 52: Kuwaiti International reserves, including gold (US$ Bn), 2002-2011
Figure 53: Kuwaiti Total Conventional Thermal Electricity net Generation (Bn Kilowatt Hours), 2002-2011
Figure 54: Kuwaiti Total Conventional Thermal Electricity Installed Capacity (Bn Kilowatt Hours), 2001-2010
Figure 55: Kuwaiti Total Petroleum Consumption (Thousand Barrels per Day), 2003-2012
Figure 56: Mining, Manufacturing, Utilities Output (in Millions), 2002-2011
Figure 57: Kuwaiti Telephone Lines (in Millions), 2003-2012
Figure 58: Kuwaiti Telephone lines Penetration Rate (per 100 people), 2003-2012
Lockheed Martin
Raytheon
Damen Schelde Naval Shipbuilding

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