2014-03-21 14:25:02 - Future of the Angolan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 - a new market research report on companiesandmarkets.com
The Angolan defence market, valued at US$5.8 billion in 2013, is expected to see a single digit growth rate over the forecast period, to reach US$8.7 billion by 2018. Equipment modernization and border security are expected to drive the country´s military expenditure to register a growth rate of 8.54% over the forecast period.The growth in military expenditure will be supported by the country´s stable economy over the forecast period, which will see rise in defence expenditure as a percentage of GDP from 4.6% in 2013, to 5.0% in 2018. Angola´s capital defence expenditure is expected to increase from US$0.5 billion in 2013 to US$0.8 billion by 2018, while its share in total expenditure is expected to grow from an average
of 4.4% during the review period, to 9.4% over the forecast period.Defence equipment such as fighter and multi-role warplanes, helicopters, and patrol vessels are expected to be in high demand over the forecast period. The under developed domestic defence industry and low budget drive the Angolan government to procure from countries that supply low-cost defence equipment.
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