Saudi Arabia Defense Market

GlobalData’s Saudi Arabia Defense Market -2022 Free Report offers the reader a detailed analysis of Saudi Arabia’s defense budget with market size forecasts covering the next five years. This report will also analyze factors that drive defense expenditure in the country

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

• Market size: A detailed analysis of the budget allocation along with budget forecasts over the period 2018-27. The report also provides breakdown of the defense budget in form of Acquisitions, and Others in both US Dollars ($) and Saudi Riyals (SAR), and also offers a breakdown of the budget
• Market drivers: The report also provides an analysis of the forces driving the Saudi Arabia defense. It also gives a purview of procurement decisions in the context of the threat scenario

Key findings include: (meta data)

• Drivers of Defense expenditure include Iranian militarization and Development of Domestic industry
• Saudi Arabian defense expenditure declined from $64.5 billion in 2018 to $45.6 billion in 2022, reflecting a negative CAGR of 8.3% during 2018–22
• The loosening of COVID–19 induced lockdown and the increase in oil price because of the uncertainty caused by the ongoing Russo–Ukrainian war have escalated the energy prices with Brent crude and WTI crude trading at $110.7 and $108.2 per barrel respectively as of May 5, 2022, which is expected to increase oil prices to provide greater resources to the defense sector over the forecast period

Saudi Arabia’s defense expenditure is projected to grow at a CAGR of 2.1% to value $56.5 billion by 2027