Jun 7, 2019   SOURCE: BusinessWire

Libyan Defense Market Report 2019 - Market Attractiveness, Competitive Landscape and Forecasts to 2024 - ResearchAndMarkets.com

The "Libyan Defense Market - Market Attractiveness, Competitive Landscape and Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.

"Libyan Defense Market - Market Attractiveness, Competitive Landscape and Forecasts to 2024", offers detailed analysis of the Libyan defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

Libya's defense expenditure is anticipated to value US$16.4 billion on a cumulative basis over the forecast period. The Libyan defense industry, valued at US$3.1 billion in 2019, is projected to record a CAGR of 1.51% over the forecast period, to reach US$3.4 billion in 2024. On a cumulative basis, expenditure over 2020-2024 is anticipated to be US$16.4 billion compared to US$14.5 billion spent during the historic period. After the 2011 revolution, the country's initial focus on reconstructing and strengthening its security forces has resulted in an increase in the Libya's military expenditure.

Libya has suffered an absence of security and the government is merely an entity with no authority. The country is still struggling to establish political, military, and economic stability even after holding elections in July 2012, enabling the shift of power to the democratically elected General National Congress (GNC). However, the country has been grappling with rampant anarchy across much of the country and the incumbent provisional Libyan government headed by Fayez al-Sarraj requested military assistance from NATO and the US in February 2017.

The country's capital expenditure is expected to increase from US$562.2 million in 2020 to US$588.7 million in 2024, growing at a CAGR of 1.15%. It is anticipated that, the Libyan government will spend on the procurement of armored vehicles, military aircraft, engines, combat helicopters and other surveillance equipment. Business opportunities will arise in the form of security platforms as the country looks to strengthen its borders.

Between 2014 and 2018, Egypt emerged as the largest supplier of arms, with a share of 31.2% of total defense imports, followed by UAE and Belarus with 28.0% and 15.1% respectively. Aircraft accounted for the majority of defense imports with a share of 46.8% during the historic period. As Libya plans to increase its defense budget and procure more weapons to increase its military base and countries like Egypt and UAE partially lifting arms embargo ban as well Russia reinitiating its $2 billion deal, imports are expected to increase during the forecast period.

Scope

The report provides an in-depth analysis of the following -

  • The defense industry market size and drivers: detailed analysis of the Libyan defense industry during 2020-2024, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country's expenditure and modernization patterns
  • Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
  • Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years
  • Market opportunities: details of the top five defense investment opportunities
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Libyan defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities

3.1. Current Market Scenario

3.1.1. Procurement Programs

3.1.2. Key Challenges

3.2. Defense Market Size Historical and Forecast

3.2.1. Libyan defense budget anticipated to grow at a CAGR of 1.51% during 2020-2024

3.2.2. Rebuilding the armed forces and replacing aging equipment

3.2.3. Defense expenditure as a percentage of GDP to decrease over the forecast period

3.3. Analysis of Defense Budget Allocation

3.3.1. The majority of Libya's defense budget is allocated to revenue expenditure

3.3.2. Capital expenditure is anticipated to rise at a CAGR of 1.15% over the forecast-period

3.3.3. Per capita defense expenditure is anticipated to increase over the forecast period

3.4. Homeland Security Market Size and Forecast

3.4.1. Political stalemate, terrorism, border security, and internal disputes

3.5. Benchmarking with Key Global Markets

3.5.1. Libyan defense budget anticipated to register growth over the period 2020-2024

3.5.2. Libyan defense expenditure is small compared to the leading spenders

3.5.3. Libya spent 6.7% of its GDP on defense in 2019

3.6. Market Opportunities: Key Trends

3.6.1. Top 10 Defense market sectors by value (US$ Million) - Projections over period 2019-2024

4. Defense Procurement Market Dynamics

4.1. Import Market Dynamics

4.1.1. Defense imports are expected to increase during the forecast period

4.1.2. Egypt was the leading supplier of arms to Libya during 2014-2018

4.1.3. Aircrafts compromised majority of Libyan arms imports

4.2. Export Market Dynamics

4.2.1. Libyan defense exports market is negligible

5. Market Entry Strategy

5.1. Market Regulation

5.1.1. Arms Embargo on Libya

5.1.2. Libya has not disclosed any offset policy

5.2. Market Entry Route

5.2.1. Budgeting Process

5.2.2. Procurement Policy & Process

5.2.3. Foreign Military Sale (FMS) is the preferred entry route

6. Competitive Landscape and Strategic Insights

6.1. Competitive Landscape Overview

7. Business Environment and Country Risk

7.1. Economic Performance

7.1.1. GDP per capita at constant prices

7.1.2. GDP at current prices (US$ Billion)

7.1.3. Exports of Goods and Services (LCU Billion)

7.1.4. Imports of Goods and Services (LCU Billion)

7.1.5. LCU per US$ (Period Average)

7.1.6. Goods exports as a percentage of GDP

7.1.7. Goods imports as a percentage of GDP

7.1.8. Services Imports as a percentage of GDP

7.1.9. Services Exports as a percentage of GDP

7.1.10. Foreign direct investment, net (BoP, current US$ billions)

7.1.11. Foreign direct investment, as Percentage of GDP

7.1.12. Mining, Manufacturing, Utilities Output (US$ Billion)

8. Appendix

Companies Mentioned

  • Leonardo S.p.A
  • KBP Instrument Design Bureau

For more information about this report visit https://www.researchandmarkets.com/r/1n2u69