Aug 03, 2022, 23:34 EST
Shibuya-ku, Tokyo, Japan, Japan, Aug 03, 2022, 23:34 /Comserve / -- The Middle-East and African ammunition market is projected to register a CAGR of more than 3.5% during the forecast period.
The Middle-East and African ammunition market is projected to register a CAGR of more than 3.5% during the forecast period.
- The ongoing political turmoil in countries, such as Libya, Syria, and Yemen, has driven the demand for sophisticated weapons and ammunition in the region. Besides, rampant illegal activities, such as smuggling, unlicensed mining, and poaching, in the Middle-East and African nations have encouraged the procurement of advanced weaponry by the respective governments to strengthen their law enforcement and military capabilities.
- Countries in the Middle-East are currently focusing on developing indigenous weapon manufacturing capabilities, which may create a positive outlook for the regional market during the forecast period.
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Key Market Trends
Military Segment Registered the Highest Market Share in 2019
The military segment is anticipated to dominate the market during the forecast period, due to the increase in the procurement of ammunition by the armed forces to subdue the threats arising due to terrorism, territorial conflicts, and geopolitical tensions. The countries are procuring artillery and mortar systems to safeguard their borders against illegal trespassing and several forms of trafficking, thereby, generating demand for ammunition. For instance, in November 2018, the US State Department approved the sales of 46,000 M831A1 and M865 rounds and 10,000 APFSDS-T rounds for an estimated cost of USD 201 million to Egypt. Also, in September 2019, the US State Department approved the sales of additional F-16 ammunition worth USD 209 million to Morocco. The deal includes provisions for the sales of 5,810 MK 82-1 bombs, 300 MK 84-4 bombs, 105 Joint Direct Attack Munitions (JDAM), BBU-36/BBU-35/B impulse cartridges, and several bomb components, such as 180 units of MXU-651 B/B Air Foil Group (AFG) and 4,125 units of MXU-650 C/B AFG.
Saudi Arabia is Expected to Generate the Highest Demand for Ammunition During the Forecast Period
During 2014-2018, Saudi Arabia’s arms imports accounted for 12% of the global arms imports. The country also possesses local ammunition manufacturing capabilities, which are bolstered by the presence of ammunition manufacturers, like Saudi Arabian Military Industries (SAMI). The demand for ammunition from Saudi Arabia is expected to increase on account of its active intervention in the ongoing military conflicts in Syria and Yemen. The country is investing heavily in the defense sector. In May 2017, Saudi Arabia signed a pact to purchase arms worth USD 350 billion from the United States by 2027. The intended purchase includes tanks, combats ships, missile defense systems, radar and communication systems, and cybersecurity technology. This factor generated a parallel demand for respective compatible ammunition, and it is expected to drive the market during the forecast period.
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The ammunition market in Middle-East and Africa is primarily dominated by foreign weapon manufacturers, such as BAE Systems PLC, Rheinmetall AG, General Dynamics Ordnance and Tactical Systems (General Dynamics Corporation), and Nexter Group. However, the growth of local manufacturers, like Denel SOC Ltd, SAMI, and Elbit Systems Ltd, has enhanced the competitive outlook of the market in the region. The regional governments are also trying to bolster local manufacturing by introducing favorable policies to develop the critical infrastructure required for manufacturing military-grade ammunition. For instance, Saudi Arabia, as part of its Vision 2030 initiative, plans to enhance its local defense manufacturing by 50% by 2030. Such developments are anticipated to radically alter the dynamics of the market during the forecast period.
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