Middle East & Africa Ammunition Market - Segmented by Type, by Use, and by Country Growth, Trends, and Forecast (2018 2023)
The Middle East & Africa Ammunition market is expected to grow at a CAGR of about 5%. There has been a spike in terrorism around the globe especially in the past 2 years. Asia-Pacific, Africa and Latin America were always prone to violence and terrorist attacks but in recent times, the threat of terrorism has spread rapidly to Europe and the Middle-East and the major party responsible for this has been the Islamic State which has replaced the Al-Qaeda as the de-facto numero uno Middle-East terrorist organization.
But the threat and impact of terrorist groups like ISIS has been on the Middle-East region which has been ravaged by infighting, terrorism, civil war since the Arab Spring in 2010. Countries like Libya, Syria and Yemen have fallen into a devastating Civil War and Saudi Arabia though relatively peaceful has been fighting from all fronts and spending massive amounts on defence even though oil prices have crashed. Hence Middle Eastern Countries have been spending considerable amounts of money to upgrade their arms. Iran, Saudi Arabia and Israel will be the leaders for the market in the region.
Similarly Africa , especially North and North Western Africa has been battling violence and with gradually rising levels of prosperity , the nations are able to afford to modernize their arms and this will propel the growth of the ammunition market in the region. Nigeria and South Africa will be the leading markets which will propel growth in the sector. Nigeria has been facing severe threat from Boko Haram, and is expected to substantially to the market going into the future.
Key Players: Rheinmetall Defence, BAE Systems, General Dynamics Corporation, NEXTER Group, Alliant Techsystems, among others.
April 2016: Rheinmetall Denel Munition (RDM), a South African defence equipment manufacturer, and Saudi Military Industries Corp. have opened a joint weapons factory in the Al-Kharj military industrial complex south of Riyadh.
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