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Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2021

Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2021

Summary
The Future of the Ghanaian Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2021, published by Strategic Defence Intelligence, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

Key Findings
The Ghanaian defense market, valued at US$177.1 million in 2016, is expected to see sustained growth over the next five years to reach US$213.8 million by 2021. The growing influence of extremist organizations such as Al-Qaeda in the Islamic Maghreb (AQIM) and Boko Haram in neighborhood coupled with piracy, oil smuggling, and drug trafficking in the Gulf of Guinea, and contributions to peacekeeping operations are expected to drive the country’s military expenditure, registering a growth rate of 2.56% over the forecast period.

On a cumulative basis, the country is expected to invest US$1.1 billion for defense purposes, of which US$256.7 million is earmarked for capital expenditure to fund defense procurements. The government’s well-defined military modernization plans to counter influence of terrorists, drug traffickers, human traffickers and weapon traffickers is expected to fuel procurement of defense equipment.

The MoD is expected to invest in fighters & multi-role Aircraft, attack helicopters and transport helicopters over the coming years.

Synopsis
This report offers detailed analysis of the Ghanaian 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:
The Ghanaian defense industry market size and drivers: detailed analysis of the Ghanaian defense industry during 2017–2021, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure 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 Ghanaian defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, 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 next 10 years
Competitive landscape and strategic insights: analysis of the competitive landscape of the Ghanaian 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 Ghanaian defense industry market trends for the coming five years
The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by 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 Ghanaian defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts


1 Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. About Strategic Defence Intelligence
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size Historical and Forecast
3.1.1. Ghanaian defense expenditure is projected to grow at a CAGR of 2.56% during the forecast period
3.1.2. Insurgency, piracy, oil smuggling, and peacekeeping operations are expected to drive defense expenditure
3.1.3. Defense budget as a percentage of GDP expected to average 0.5% over the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Allocation for capital expenditure expected to average at 23.9% over the forecast period
3.2.2. Capital expenditure budget expected to grow at 2.36% over the forecast period
3.2.3. Per-capita defense expenditure expected to increase during the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security budget projected to increase during the forecast period
3.3.2. The threat from Boko Haram, drug trafficking, cybercrime, and money laundering to drive the homeland security market
3.3.3. Ghana falls under the 'some risk category' by terrorist attack
3.3.4. Ghana has rank of 94 in terrorism index
3.3.5. Ghana has a terrorism index score of 1.4
3.4. Benchmarking with Key Global Markets
3.4.1. The country's defense budget is expected to increase during the forecast period
3.4.2. Ghanaian military expenditure is limited compared to countries with the largest defense expenditure
3.4.3. The country allocates a lower percentage of GDP to defense
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Fighters & Multi-role Aircraft
3.5.2. Attack Helicopters
3.5.3. Transport Helicopters
4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Limited capability of the domestic defense market drives imports
4.1.2. Defense imports expected to increase during the forecast period
4.1.3. China, Russia, Germany and Spain account for most of the country's defense imports
4.1.4. Naval vessels, aircraft and armored vehicles are the largest imported military hardware
4.2. Export Market Dynamics
4.2.1. Ghana does not export arms due to its underdeveloped domestic arms industry
5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low to medium
5.1.2. Bargaining power of buyer: medium to high
5.1.3. Barrier to entry: medium
5.1.4. Intensity of rivalry: low
5.1.5. Threat of substitution: low
6 Market Entry Strategy
6.1. Market Regulation
6.1.1. Ghana does not disclose any offset obligations imposed by the country
6.1.2. FDI in the defense sector prohibited by the Ghanaian government
6.2. Market Entry Route
6.2.1. Direct selling is the preferred market entry route for foreign OEMs
6.3. Key Challenges
6.3.1. Corruption acts as an obstacle for market entry
6.3.2. Small defense budget does not attract suppliers
7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.2. Key Domestic Companies
7.2.1. Defence Industrial Holding Company Limited (DIHOC): overview
7.2.2. Defence Industrial Holding Company Limited (DIHOC): products and services
8 Business Environment and Country Risk
8.1. Economic Performance
8.1.1. Gross Domestic Product Per Capita
8.1.2. Gross Domestic Product, current US$
8.1.3. Export of Goods & Services
8.1.4. Imports of Goods & Services
8.1.5. Local Currency Unit per US$
8.1.6. Market capitalization of listed companies (US$ Bn)
8.1.7. Market capitalization of listed companies (% GDP)
8.1.8. Government cash surplus/deficit as % GDP (LCU)
8.1.9. Goods Exports as a % of GDP
8.1.10. Goods Imports as a % of GDP
8.1.11. Services Imports as a % of GDP
8.1.12. Services Exports as a % of GDP
8.1.13. Net Foreign Direct Investment
8.1.14. Net FDI as a percentage of GDP
8.1.15. Mining, Manufacturing, Utilities Output (LCU Bn)
9 Appendix
9.1. About SDI
9.2. Disclaimer
List of Tables
Table 1: Ghanaian Defense Expenditure (GHS million& US$ million), 2012-2021
Table 2: Ghanaian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2012-2021
Table 3: Ghanaian Defense Budget Split between Capital and Revenue Expenditure (%), 2012-2021
Table 4: Ghanaian Defense Capital Expenditure (GHS Billion & US$ Million), 2012-2021
Table 5: Ghanaian Per-Capita Defense Expenditure (US$), 2012-2021
Table 6: Ghanaian Homeland Security Expenditure (GHS Billion & US$ Million), 2012-2021
Table 7: Terrorism Index, 2016
Table 8: Benchmarking with Key Markets - 2012-2016 vs. 2017-2021
Table 9: Defence Industries Corporation of Ghana - Main Products
List of Figures
Figure 1: Ghanaian Defense Expenditure (in GHS Mn), 2012-2021
Figure 2: Ghanaian Defense Expenditure (in US$ Mn), 2012-2021
Figure 3: Ghanaian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2012-2021
Figure 4: Ghanaian Defense Budget Split Between Capital and Revenue Expenditure (%), 2012-2021
Figure 5: Ghanaian Capital Budget Allocation (GHS Million), 2012-2021
Figure 6: Ghanaian Capital Budget Allocation (US$ Million), 2012-2021
Figure 7:Ghanaian Per-Capita Defense Expenditure (US$), 2012-2021
Figure 8: Ghanaian Homeland Security Budget (GHS Billion), 2012-2021
Figure 9: Ghanaian Homeland Security Budget (US$ Million), 2012-2021
Figure 10: Terrorism Heat Map, 2016
Figure 11: Terrorism Index, 2016
Figure 12: Benchmarking with Key Markets - 2012-2016 vs. 2017-2021
Figure 13: Defense Expenditure of the World's Largest Military Spenders (US$ Billion), 2016 and 2021
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2016
Figure 15: Ghanaian Defense Import Trend, 2011-2015 (TIV values)
Figure 16: Ghanaian Defense Imports by Country (US$ Million), 2011-2015
Figure 17: Ghanaian Defense Imports by Category (%), 2011-2015
Figure 18: Industry Dynamics - Porter's Five Forces Analysis
Figure 19: Ghana's GDP per capita, 2016-2025
Figure 20: Ghana's Gross Domestic Product (current US$ Billion), 2016-2025
Figure 21: Ghana's Exports of goods and services (LCU), 2005-2014
Figure 22: Ghana's Imports of goods and services (LCU Billion), 2005-2014
Figure 23: Ghana's LCU per US$, 2015-2024
Figure 24: Ghana's Market capitalization of listed companies (US$ Bn), 2005-2012
Figure 25: Ghana's Market capitalization of listed companies (% GDP), 2005-2012
Figure 26: Ghanaian Government cash surplus/deficit as a % of GDP (LCU), 2005-2011
Figure 27: Ghana's Goods Exports as a % of GDP, 2005-2013
Figure 28: Ghana's Goods Imports as a % of GDP, 2005-2013
Figure 29: Ghana's Services Imports as a % of GDP, 2005-2013
Figure 30: Ghana's Services Exports as a % of GDP, 2005-2013
Figure 31: Ghana's Net Foreign Direct Investment (BoP, current US$ Billion), 2005-2013
Figure 32: Ghana's Net FDI as a percentage of GDP, 2005-2013
Figure 33: Ghana's Mining, Manufacturing, Utilities Output (LCU Bn) 2005-2014

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