Today: October 22, 2016, 1:50 pm

Iraq defence market: $26.2 billion industry estimated by 2018
Future of the Iraqi Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 - a new market research report on 2014-03-24 12:42:01
Following the end of Operation Iraqi Freedom, Iraq is undergoing a significant period of national reconstruction that will see its defence expenditure rise at a CAGR of 8.68% over the next five years. Despite this being a slower rate of growth than the CAGR of 15.56% exhibited between 2009 and 2013, Iraq´s defence market is still set to reach a value of US$26.2 billion by 2018 - growth primarily driven by the predicted growth of the country´s economy thanks to its strong oil reserves.Iraq is undergoing a phase of post-war national development, as all aspects of the national infrastructure - including the military - need rebuilding. The toppling of the Saddam Hussein regime and subsequent period of prolonger turmoil left the country´s armed forces in a vulnerable state, rendering them incapable of defending themselves against any form of internal or external aggression.This will be the primarily driver of the healthy growth forecast for Iraq´s defence sector, but it is vital for organizations seeking to make the most out of the opportunity this represents to have a properly nuanced understanding of the forces that will be driving the market.The considerable loss and wear and tear of equipment during the war and its aftermath period have left the Iraqi military in need of modern arms and equipment. The complete withdrawal of US forces in 2012 amplified the need of weaponry to deal with the Kurdish insurgency, sectarian violence, and the terrorist activities of Al-Qaeda. Consequently, the Iraqi government drafted a military reform program to address the need for military hardware, with its efforts to rebuild the military following the withdrawal of US troops set to be the primary factor driving Iraq´s military expenditure over the next decade.The Middle East is mired by cross border tensions, which necessitates high national security expenditure. For instance, Iraq is closely monitoring the ongoing Syrian civil war and the strengthening hold of Sunni terrorists as they threaten to fuel violence in the country.Iraq shares a long history of conflicts with Syria with regards to the unification of both nations, with tensions peaking during Saddam Hussein´s era and the Persian war. Iraq alleges that Syria and Iran are instigating religious conflicts within its borders, in addition to aiding terrorists. Indeed, Iran too has a considerable history of conflict with Iraq, with both countries competing for regional supremacy; this situation has been further inflamed by Iran´s projected production of sufficient weapon-grade uranium for a nuclear explosive by mid-2014. Furthermore, Iraq has strained relations with its other neighbours: Kuwait, Saudi Arabia, and Turkey. Internal conflicts with the autonomous Kurdistan region also fuel the sectarian violence in the country; meanwhile, traditional enmity with Israel adds to the perceived threats, propelling the Iraqi government to boost its defence expenditure.Iraq has the world´s fourth largest oil reserves and is an important producer and exporter of petroleum products. The country´s offshore oil exploration infrastructure is threatened by various militant groups and Al-Qaeda. Iraq employs the services of 40,000 energy police personnel for the protection of its onshore and offshore oil infrastructure, whilst its Navy began procuring UAVs in 2012 for the protection of its southern oil platforms.Iraq is expected to continue to invest in the protection of its oil industry, which will create market opportunities for technologies catering to the identification and access control, surveillance, perimeter protection, information technology security, control, communications and intelligence (C3I) markets.Iraq´s internal security is threatened by two factors: the surge of Al-Qaeda terrorists and increased domestic Sunni and Shia militant groups´ activities. Following the withdrawal of US troops in 2011, the wave of car bombings that had plagued the capital grew, peaking in 2013, and ultimately claiming around 5,700 civilian lives. This, among other factors, see Iraq by far the worst affected country in the world according to Strategic Defence Intelligence´s Terrorism Index.

Click for report details: ..

Browse all Defence Market Research Reports ..

Browse all Defence Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 865 Words
Related Articles
More From Finance
P2P lending platform Monexo partners with IDBI-Trusteeship [..]
For Immediate Release: 2nd September 2016 MUKESH BUBNA, CEO Monexo Fintech Pvt Limited P2P [..]
Day Trade to Win New September Class [..]
Sold Out? New Class Added – On September 6, 2016, is launching a brand new eight-week trading boot camp [..]
FTM (Forget The Market) Reopens 3 Shares [..]
Port Vila, Vanuatu, 28th July 2016 - Investment firm FTM today announced the reopening of three separate share options, projected [..]
Ex-Citibanker Launching Online P2P marketplace in India [..]
A study conducted by World Bank shows that MSMEs in India face an estimated credit gap of INR 20.9 trillion [..]
New Frontier Portfolios Top Morningstar Rankings
New Frontier’s global strategic portfolios topped the Global Balanced Strategic/All-Inclusive category of the latest Morningstar ETF [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.