According to MarkNtel Advisors research report, “GCC Defense Market Analysis, 2021,” the market shall grow at a CAGR of 2.12% in the forecast period of 2021-26. GCC defense budgets are a means to create jobs, drive economic growth, and produce more radical industrial & technological sectors in the region. Moreover, it creates opportunities for policymakers to grow industrial localization due to their constant need to spend massive amounts on defense, prominently because of the geopolitical uncertainty and their need to explore more efficiency & value. Hence, the GCC Defense Market is likely to grow at a robust pace in the forecast years.

Key questions answered in the study
1. What are the current and future trends in the GCC Defense Market?
2. How has the market been evolving in terms of end-user demand and application areas?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for GCC Defense Market?
5. What are the customer orientation, purchase behavior, and expectations from the GCC Defense Market service provider across various countries?

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Impact of Covid-19

The outbreak of the Covid-19 pandemic affected multiple markets and moderately impacted the GCC Defense Market. It created hindrance & challenges in the region with the imposition of lockdown and strict restrictions on the movement, trade, and export, where the reachability of goods and military equipment fluctuated & compromised. Although, with the massive investments and availability of some equipment, the GCC market did not affect severely. However, with the gradual upliftment of restriction, the GCC Defense Market shall regain its usual pace in the forecast period.

Transport Helicopters to attain Fastest Market Growth
Based on the Helicopters, the market segments into Combat and Transport. Of both, the Transport Helicopters are more likely to lead the market during the forecast period as helicopter services leverage for multiple purposes in the GCC. Moreover, Saudi Arabia & Qatar have a firm aviation infrastructure and ample space to develop networks of landing/take-off pads and spots, which further strengthens the region’s grip on the overall helicopter market share. In the UAE, the market is likely to display promising growth also due to the proliferation of helicopter leasing facilities and the rising number of offshore operations. It shall further generate lucrative opportunities for market players in the forecast years.

“GCC Defense Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Defense providers across the countries. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

According to MarkNtel Advisors, the major leading players in the GCC Defense Market are Saudi Arabian Military Industries, Emirates Defence Industries Company, Advanced Electronics Company, Military Industries Corporation, Dahra Engineering & Security Services LLC, Lockheed Martin Corporation, The Boeing Company, Elbit Systems Ltd, Israel Aerospace Industries, Raytheon Company, Rheinmetall AG, Aselsan AS, Northrop Grumman Corporation, Thales SA, Honeywell International Inc., BAE Systems PLC, Rockwell Collins, L3 Technologies Inc., Airbus SE, Leonardo SpA.

Market Segmentation:
1. By Aircraft (Fighter Aircraft, Transport Aircraft, Surveillance Aircraft, Helicopter, Combat, Transport, UAVs(Surveillance, Armed))
2. By Weapons & Ammunitions (Missiles & Air Defense Systems, Artillery systems & Mortar Systems, Infantry Weapons, Ammunitions)
3. By Sea Based Platforms (Transport Ships, Combat Ships, Surveillance Ships)
4. By Land-Based Vehicle (Infantry & Armored Vehicles, Tanks)
5. By Personal Training & Protection (Training & Simulation, Personal Protective Equipment)
6. By Maintenance, Repair & Overhaul (MRO) (Vehicles, Infantry & Armored Vehicles, Tanks)
7. By Country (Saudi Arabia, UAE, Kuwait, Oman, Qatar, Bahrain)
8. By Competitors (Saudi Arabian Military Industries, Emirates Defence Industries Company, Advanced Electronics Company, Military Industries Corporation, Dahra Engineering & Security Services LLC, Lockheed Martin Corporation, The Boeing Company, Elbit Systems Ltd, Israel Aerospace Industries, Raytheon Company, Rheinmetall AG, Aselsan AS, Northrop Grumman Corporation, Thales SA, Honeywell International Inc., BAE Systems PLC, Rockwell Collins, L3 Technologies Inc., Airbus SE, Leonardo SpA.)