Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024
Summary
Ghanaian defense budget is forecasted to register a CAGR of 6.38% over the forecast period. Although terrorism has never been a serious threat to the country, the emergence of various militant groups such as IS and Boko Haram in the region means the threat of terrorism has increased substantially. Although Ghana has not been subjected to violent attacks, the country is surrounded by nations such as Chad, Nigeria and Niger, all of which have a significant presence of Islamic State (IS) militants, which poses a serious threat to the country’s security.
Ghana’s military expenditure values US$254.7 in 2019 and recorded a CAGR of 6.30% during the historic period. It is further anticipated to increase at a CAGR of 6.38% during the forecast period to value US$388.5 million in 2024. The capital expenditure allocation, which stood at an average of 18.9% during 2015-2019, is projected to increase to an average of 21.3% during the forecast period. Key opportunities for equipment suppliers are expected in areas such as multi role aircraft, attack helicopters, biometrics and C4ISR systems. Consequently, the average revenue expenditure is forecast to decline from 81.1% of total expenditure during 2015-2019 to 78.7% during 2020-2024.
Ghana’s homeland security expenditure stood at US$270.8 million in 2015 and increased at a CAGR of 15.48% during the historic period to value US$481.5 million in 2019. This expenditure is primarily driven by the country’s focus on enhancing its defense capabilities to counter high rates of violent crime and the rising threat of global terrorism.
The country is considering investments in surveillance and intelligence technologies such as electronic identification documents, e-passports, automated border crossing systems, bio-metric identification and CCTV (closed circuit television) systems, which are expected to be covered under homeland security expenditure. The Ghanaian homeland security budget is forecasted to increase at a CAGR of 9.84% over the forecast period, increasing from US$523 million in 2020 to US$761.3 million by 2024.
The report "Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024", 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.
In particular, it provides an in-depth analysis of the following -
Companies mentioned: Pratt & Whitney., Embraer S.A., Harbin Aircraft Industry (Group) Co., Ltd. (HAIG), Defence Industrial Holding Company Limited (DIHOC)
Scope
Reasons to Buy
Summary
Ghanaian defense budget is forecasted to register a CAGR of 6.38% over the forecast period. Although terrorism has never been a serious threat to the country, the emergence of various militant groups such as IS and Boko Haram in the region means the threat of terrorism has increased substantially. Although Ghana has not been subjected to violent attacks, the country is surrounded by nations such as Chad, Nigeria and Niger, all of which have a significant presence of Islamic State (IS) militants, which poses a serious threat to the country’s security.
Ghana’s military expenditure values US$254.7 in 2019 and recorded a CAGR of 6.30% during the historic period. It is further anticipated to increase at a CAGR of 6.38% during the forecast period to value US$388.5 million in 2024. The capital expenditure allocation, which stood at an average of 18.9% during 2015-2019, is projected to increase to an average of 21.3% during the forecast period. Key opportunities for equipment suppliers are expected in areas such as multi role aircraft, attack helicopters, biometrics and C4ISR systems. Consequently, the average revenue expenditure is forecast to decline from 81.1% of total expenditure during 2015-2019 to 78.7% during 2020-2024.
Ghana’s homeland security expenditure stood at US$270.8 million in 2015 and increased at a CAGR of 15.48% during the historic period to value US$481.5 million in 2019. This expenditure is primarily driven by the country’s focus on enhancing its defense capabilities to counter high rates of violent crime and the rising threat of global terrorism.
The country is considering investments in surveillance and intelligence technologies such as electronic identification documents, e-passports, automated border crossing systems, bio-metric identification and CCTV (closed circuit television) systems, which are expected to be covered under homeland security expenditure. The Ghanaian homeland security budget is forecasted to increase at a CAGR of 9.84% over the forecast period, increasing from US$523 million in 2020 to US$761.3 million by 2024.
The report "Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024", 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.
In particular, it provides an in-depth analysis of the following -
- The Ghana defense industry market size and drivers: detailed analysis of the Ghanaian defense industry during 2020-2024, 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 capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
- Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
- Market opportunities: list of the top ten defense investment opportunities over the next 5 years
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Ghanaian defense industry
Companies mentioned: Pratt & Whitney., Embraer S.A., Harbin Aircraft Industry (Group) Co., Ltd. (HAIG), Defence Industrial Holding Company Limited (DIHOC)
Scope
- The Ghanaian defense market, valued at US$271.8 million in 2019, is anticipated to see sustained growth over the next five years to reach US$414.6 million by 2024, by registering a CAGR of 6.38% during the forecast period.
- The increase in country’s defense expenditure can be attributed to the growing influence of extremist organizations such as Al-Qaeda in the Islamic Maghreb (AQIM) and Boko Haram in the region.
- This coupled with piracy, oil smuggling and drug trafficking in the Gulf of Guinea will further drive the spending on defense.
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, key trends and latest industry contracts.
Table of Contents
1. Introduction
3. Market Attractiveness and Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Competitive Landscape and Strategic Insights
7. Business Environment and Country Risk
8. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Pratt & Whitney.
- Embraer S.A.
- Harbin Aircraft Industry (Group) Co. Ltd. (HAIG)
- Defence Industrial Holding Company Limited (DIHOC)
