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Future of the Iraqi Defense Industry - Market Attractiveness, Competitive Landscape, and Forecasts to 2019

Published: Nov-2014 | Format: PDF | Strategic Defence Intelligence | Number of pages: 90 | Code: MRS - 1755

The Future of the Iraqi Defense Industry – Market Attractiveness, Competitive Landscape, and Forecasts to 2019 published by Strategic Defence Intelligence, provides readers with a detailed analysis of both historic and forecast industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

Key Findings

The Iraqi defense expenditure recorded a CAGR of 16.87% between 2010 and 2014, and values US$20.6 billion in 2014
The country’s total defense expenditure during the forecast period is expected to be US$28.8 billion
The average share of capital expenditure is expected to be 19.7% over the forecast period, compared to an average share of 10.3% during 2010–2014.
The key areas of investment are expected to be aircraft, helicopter, armored vehicles, and surveillance equipment

Synopsis

This report offers a detailed analysis of the Iraqi 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. 

In particular, it provides an in-depth analysis of the following: 

  • Iraqi defense industry market size and drivers: detailed analysis of the Iraqi defense industry during 2015–2019, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s spending patterns 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 the army, navy, and air force. It also details the key challenges faced by defense market participants within the country
  • Porter’s Five Force analysis of the Iraqi defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyer, the threat of substitutions, intensity of rivalry, and barriers to entry 
  • 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 over the coming 10 years
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Iraqi defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis


Reasons To Buy

  • This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Iraqi defense industry market trends for the coming five years
  • The market opportunity section will inform the user about the various military requirements, which are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern of the country during the forecast period
  • Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
  • A deep qualitative analysis of the Iraqi defense industry covering sections including demand drivers, Porter’s Five Force Analysis,  Key Trends and Growth Stimulators, and latest industry contracts, among others

Table of Contents

1 Introduction

1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence

2 Executive Summary

3 Market Attractiveness and Emerging Opportunities

3.1. Defense Market Size Historical and Forecast
3.1.1. Defense expenditure is expected to grow at a CAGR of 10.34% over the forecast period
3.1.2. Fight against militants, capacity building, and regional turmoil are expected to be the key factors driving defense expenditure
3.1.3. Iraq to allocate an average of 10.1% of its GDP towards military expenditure
3.2. Analysis of Defense Budget Allocation
3.2.1. Capital expenditure allocation to average 19.7% of the total budget over 2015-2019
3.2.2. Military equipment procurement plans to drive defense capital expenditure
3.2.3. Per capita defense expenditure expected to increase over the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Fighting terrorism, controlling sectarian violence, and oil infrastructure protection will be the key factors driving homeland security
3.3.2. Iraq considered at ‘worst affected’ of terrorist attack
3.4. Benchmarking with Key Global Markets
3.4.1. Iraq to be among the fastest-growing defense spenders
3.4.2. Iraq allocates a high percentage of its GDP towards the defense sector
3.4.3. Iraq faces highest risk of terror attacks
3.5. Market Opportunities: Key Trends and Drivers
3.5.1. Fighters & Multi-Role Aircraft
3.5.2. Attack helicopters
3.5.3. Surface- Air missiles

4 Defense Procurement Market Dynamics

4.1. Import Market Dynamics
4.1.1. Defense industry heavily relies on imports from foreign countries
4.1.2. The US and Russia are the prime defense equipment suppliers to Iraq
4.1.3. Armored vehicles and aircraft dominate Iraqi defense imports
4.2. Export Market Dynamics
4.1.4. Iraq’s defense export market is negligible

5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: medium
5.1.2. Bargaining power of buyer: medium
5.1.3. Barrier to entry: low
5.1.4. Intensity of rivalry: medium to high
5.1.5. Threat of substitution: medium to high

6 Market Entry Strategy
6.1. Market Regulation
6.1.1. The Iraqi government allows FDI in the defense industry
6.1.2. Iraq has not disclosed any offset obligation
6.2. Market Entry Route
6.2.1. Government to government deals are an attractive entry route to the country’s defense market
6.2.2. Establishment of representative office obtains eligibility for participating in procurement tenders
6.3. Key Challenges
6.3.1. Corruption acts as an obstacle for market entry
6.3.2. Lack of skilled Labor

7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Iraqi defense sector is dominated by foreign competitors
7.2. Key Foreign Companies
7.2.1. General Dynamics Corporation: overview
7.2.2. General Dynamics Corporation: products and services
7.2.3. General Dynamics: recent announcements and strategic initiatives
7.2.4. General Dynamics Corporation: alliances
7.2.5. General Dynamics Corporation: recent contract wins
7.2.6. Lockheed Martin: overview
7.2.7. Lockheed Martin: products and services
7.2.8. Lockheed Martin: recent announcements and strategic initiatives
7.2.9. Lockheed Martin: alliances
7.2.10. Lockheed Martin: recent contract wins
7.2.11. BAE Systems Plc.: overview
7.2.12. BAE Systems Plc.: products and services
7.2.13. BAE Systems Plc.: alliances
7.2.14. BAE Systems Plc.: recent contract wins
7.2.15. Thales Raytheon Systems: overview
7.2.16. Thales Raytheon Systems: products and services
7.2.17. Thales Raytheon Systems: alliances
7.2.18. Thales Raytheon Systems: recent contract wins
7.2.19. Bell Helicopter Textron, Inc.: overview
7.2.20. Bell Helicopter Textron, Inc.: products and services
7.2.21. Bell Helicopter Textron, Inc.: recent announcements and strategic initiatives
7.2.22. Bell Helicopter Textron, Inc.: recent contract wins
7.2.23. Raytheon: overview
7.2.24. Raytheon: products and services
7.2.25. Raytheon: recent announcements and strategic initiatives
7.2.26. Raytheon: alliances
7.2.27. Raytheon: recent contract wins

8 Business Environment and Country Risk

8.1. Demographics & Social Statistics
8.1.1. Population –Rural
8.1.2. Population - Urban
8.1.3. Population –Number of Households
8.2. Economic Performance
8.2.1. GDP per Capita
8.2.2. Gross Domestic Product
8.2.3. Gross National Disposable Income
8.2.4. Manufacturing Output
8.2.5. Consumer Price Index
8.2.6. LCU per US$ (period average)
8.2.7. LCU per Euro (period average)
8.2.8. International reserves, including gold
8.3. Energy and Utilities
8.3.1. Total Conventional Thermal Electricity Net Generation
8.3.2. Hydroelectricity Net Generation
8.3.3. Total Conventional Thermal Electricity Installed Capacity
8.3.4. Proved Reserves of Natural Gas
8.3.5. Total Petroleum Consumption
8.3.6. Crude Oil Proved Reserves
8.4. Minerals
8.4.1. Mining, Manufacturing, Utilities Output
8.5. Telecommunication
8.4.2. Telephone Lines
8.4.3. Telephone lines Penetration Rate

9 Appendix
9.1. About SDI
9.2. Disclaimer

List of Tables

Table 1: Iraqi Defense Expenditure (US$ Billion), 2010-2014
Table 2: Iraqi Defense Expenditure (US$ Billion), 2015–2019
Table 3: Iraqi Defense Expenditure (IQD Billion), 2010–2014
Table 4: Iraqi Defense Expenditure (IQD Billion), 2015–2019
Table 5: Iraqi GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2010-2014
Table 6: Iraqi GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2015–2019
Table 7: Iraqi Defense Budget Split Between Capital and Revenue Expenditure (%), 2010-2014
Table 8: Iraqi Defense Budget Split Between Capital and Revenue Expenditure (%), 2015–2019
Table 9: Iraqi Defense Capital Expenditure (US$ Bn), 2010-2014
Table 10: Iraqi Defense Capital Expenditure (US$ bn), 2015–2019
Table 11: Iraqi Capital Expenditure (IQD Billion), 2010–2014
Table 12: Iraqi Capital Expenditure (IQD Billion), 2015–2019
Table 13: Iraqi Per Capita Defense Expenditure (US$), 2010-2014
Table 14: Iraqi Per Capita Defense Expenditure (US$), 2015–2019
Table 15: Benchmarking with Key Markets – 2010-2014 vs. 2015–2019
Table 16: SDI Terrorism Index
Table 17: Competitive Landscape of the Iraqi Defense Industry
Table 18: General Dynamics Corporation – Product Focus
Table 19: General Dynamics Corporation– Alliances
Table 20: General Dynamics Corporation – Recent Contract Wins
Table 21: Lockheed Martin – product focus
Table 22: Lockheed Martin – Alliances
Table 23: Lockheed Martin – Recent Contract Wins
Table 24: BAE Systems Plc.– Product Focus
Table 25: BAE Systems Plc.– Alliances
Table 26: BAE Systems Plc.– Recent Contract Wins
Table 27: Thales Raytheon Systems – product focus
Table 28: Thales Raytheon Systems – Alliances
Table 29: Thales Raytheon Systems – Recent Contract Wins
Table 30: Bell Helicopter Textron, Inc. – Product Focus
Table 31: Bell Helicopter Textron, Inc. – Recent Contract Wins
Table 32: Raytheon – Product Focus
Table 33: Raytheon – Alliances
Table 34: Raytheon – Recent Contract Wins

List of Figures


Figure 1: Iraqi Defense Expenditure (US$ Billion), 2010-2014
Figure 2: Iraqi Defense Expenditure (US$ Billion), 2015–2019
Figure 3: Iraqi Defense Expenditure (IQD Billion), 2010–2014
Figure 4: Iraqi Defense Expenditure (IQD Billion), 2015–2019
Figure 5: Iraqi GDP Growth vs. Defense Expenditure Growth and Defense Expenditures  Percentage of GDP Growth, 2010-2014
Figure 6: Iraqi GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as  Percentage of GDP Growth, 2015–2019
Figure 7: Iraqi Defense Budget Split Between Capital and Revenue Expenditure (%), 2010-2014
Figure 8: Iraqi Defense Budget Split Between Capital and Revenue Expenditure (%), 2015–2019
Figure 9: Iraqi Defense Capital Expenditure (US$ bn), 2010-2014
Figure 10: Iraqi Defense Capital Expenditure (US$ Bn), 2015–2019
Figure 11: Iraqi Capital Expenditure (IQD Billion), 2010–2014
Figure 12: Iraqi Capital Expenditure (IQD Billion), 2015–2019
Figure 13: Iraqi Per Capita Defense Expenditure (US$), 2010-2014
Figure 14: Iraqi Per Capita Defense Expenditure (US$), 2015–2019
Figure 15: SDI Terrorism Heat Map, 2014
Figure 16: SDI Terrorism Index, 2014
Figure 17: Benchmarking with Key Markets – 2010-2014 vs. 2015–2019
Figure 18: Benchmarking with World’s Largest Defense Spenders (US$ Billion),  2014 and 2019
Figure 19: Benchmarking with Large Defense Spenders as % of GDP, 2014
Figure 20: Fighters & Multi-Role Aircraft Market Size (US$ Million), 2014 - 2024
Figure 21: Attack Helicopters Market Size (US$ Million), 2014 - 2024
Figure 22: Surface-Air Missile Market Size (US$ Million), 2014 - 2024
Figure 23: Iraqi Defense Import Trend, 2009–2013 (TIV values)
Figure 24: Iraqi Defense Imports by Country (%), 2009–2013
Figure 25: Iraqi Defense Imports by Weapon Category (%), 2009–2013
Figure 26: Industry Dynamics – Porter’s Five Forces Analysis
Figure 27: Iraqi Population – Rural (In Millions), 2010–2019
Figure 28:IraqiPopulation – Urban (In Millions), 2010–2019
Figure 29:IraqiPopulation – Number of Households (In Millions), 2008–2017
Figure 30: Iraqi GDP per Capita (US$), 2008–2017
Figure 31: Iraqi GDP (current US$ bn),2010–2019
Figure 32: Iraqi Gross National disposable income (US$ Bn),2002– 2011
Figure 33: Iraqi Manufacturing Output (US$ Bn), 2003– 2012
Figure 34: Iraqi Consumer Price Index, 2008–2017
Figure 35: Iraqi LCU per US$, 2009–2018
Figure 36: Iraqi LCU per Euro, 2008–2017
Figure 37: Iraqi International reserves, including gold (US$ Bn), 2002–2011
Figure 38: Iraqi Total Conventional Thermal Electricity net Generation (Bn Kilowatt Hours),                  2001–2010
Figure 39: Iraqi Hydroelectricity Net Generation (Bn Kilowatt Hours), 2001–2010
Figure 40: Iraqi Total Conventional Thermal Electricity Installed Capacity (Mn Kilowatt Hours), 2001–2010
Figure 41: Iraqi Proved Reserves of Natural Gas(Trillion Cubic Feet), 2004–2013
Figure 42: Iraqi Total Petroleum Consumption (Thousand Barrels per Day), 2003–2012
Figure 43: Iraqi Crude Oil Proved Reserves(Bn Barrels), 2004–2013
Figure 44: Mining, Manufacturing, Utilities Output (in Millions), 2002–2011
Figure 45: Iraqi Telephone Lines (in Millions), 2003–2012
Figure 46: Iraqi Telephone lines Penetration Rate (per 100 people), 2003–2012

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