Market Research Report
Kenya Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2025
|Published by||GlobalData||Product code||965838|
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|Kenya Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2025|
|Published: September 22, 2020||Content info:||
Kenya Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2025 report provides the market size forecast and the projected Compound Annual Growth Rate (CAGR) for the next five years. The report covers the industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants.
This report offers detailed analysis of the Kenyan defense market 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.
Kenya has one of the most powerful armed forces in East and Central African region. Kenya's defense expenditure during the historical period has been mainly driven by the procurement of small arms, aircraft, artillery, and armored vehicles. The country's defense budget increased at a CAGR of 4.16% from 2016 to 2020. Kenya's defense expenditure amounted to US$0.9 billion in 2016, which increased to an investment of US$1.1 billion in 2020. The Kenyan Government's military capability and capacity expansion plans, the need to effectively counter terrorist groups, and the country's participation in various peacekeeping missions are anticipated to increase its military expenditure during the forecast period. Kenya's defense budget is valued at US$1.1 billion in 2020 and is anticipated to grow at a CAGR of 3.6% during the forecast period to reach US$1.3 billion by 2025
In particular, it provides an in-depth analysis of the following -
Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years