Ken Research announced its most recent publication titled, “Future of the Qatari Defense Industry-Market Attractiveness, Competitive Landscape and Forecasts to 2021,” discuss defense industry in detail. The report has covered defense and military expenditure past and forecast analysis. It has also covered market size of the Qatar defense industry along with defense budget to the army, navy, and air force. Major challenges and market dynamics have been covered detailing competitive landscape and trade scenario. Qualitative analysis showcase Qatari defense industry support factors such as demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts.
Qatar is a small state with the population of almost 2.17 million as per 2013 estimates. In Qatar defense industry registered growth over period of last 10 years whereas defense expenditure witnessed growth of 4.22% from USD 3.7 Billion in 2012 to USD 4.4 Billion in 2016 and further expected to rise. Military expenditure forecasted to grow at a CAGR of 1.82% from USD 4.5 Billion in 2017 to USD 4.9 Billion in 2021 driven by cash reserves in the country and arms requirement in the Middle East.
In 2016 Qatar signed a deal to restrict hostile ships entering its territorial waters by installing a defense system. For installing the system European firm MBDA will receive the sum from the country’s Emiri Naval Forces (QENF). Following the plan to expand defense capability Qatar is also investing in new aircraft.
Ankur Gupta, Head Marketing & Communications