Naperville, IL — (SBWIRE) — 01\/09\/2012 — Reportstack, provider of premium market research reports announces the addition of The Saudi Arabian Defense Industry – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016 market report to its offering<\/p>\n
The Saudi Arabian defense industry valued US$48 billion in 2011 and is one of the largest defense markets globally. During the review period, the country’s defense expenditure grew at a CAGR of 7.83%, and is expected to record a CAGR of 5.44 % over the forecast period, to value US$62.4 billion by 2016. The key drivers of such expenditure growth include increases in cross-border insurgency, domestic unease with the ruling regime, the rising number of Al Qaeda training camps in the country, an increasing focus on infrastructure security regarding oil and a regional rivalry with Iran to emerge as the most influential nation in the Middle East. Saudi Arabia’s substantial defense budget, coupled with the limited capabilities of domestic defense firms, is attracting foreign OEMs into the market.<\/p>\n