Thursday 9 April 2015, Amsterdam
The new report recognizes the following companies as the key players in the Security Sector in Saudi Arabia: BAE Systems, Boeing Co., General Dynamics Corp., Lockheed Martin Corp. and Raytheon Co.
Other Prominent Vendors in the market are: Advanced Electronics, Alsalam Aircraft, EADS, Northrop Grumman, Sikorsky Aircraft and Thales.
Commenting on the report, an analyst from the report's team said: “One major trend emerging in the market is the high investment in safety and security equipment. As the defense budget of Saudi Arabia is increasing significantly, its foreign collaborations for military affairs are also increasing. Saudi Arabia imports defense equipment mainly from the US, Russia, France, and the UK.”
According to the report, one of the major drivers in the market is the flourishing economy and infrastructure. The majority of Saudi Arabia's revenue is dependent on oil exports; therefore, its economy is financially strong. A flourishing economy mandates the need for security, which drives the country to invest extensively in the import of defense equipment.
Further, the report states that one key challenge that the market faces is the high dependence on imported equipment. Most of the defense equipment and security systems and weapons in Saudi Arabia are imported from the US, Russia, France, and the UK. This dependency can affect the growth of the Security sector in the Kingdom of Saudi Arabia through delays, price hikes, or even small political issues between the countries.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Publish date : October 2014
Report code : ASDR-154180
Pages : 80