Kenya Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028

'Kenya Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028' report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Kenya's defense expenditure declined from $1.14 billion in 2019 to $1.12 billion in 2023, reflecting a negative CAGR of 0.5% during 2019-23. Over the forecast period, the defense budget is anticipated to reach $1.2 billion in 2028, from $1.13 billion in 2024, registering a CAGR of 1.4%. The increase in budget is primarily driven by the need to modernize the country’s armed forces via the procurement of equipment, the need to effectively counter terrorist groups, and Kenya’s participation in various peacekeeping missions.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Key Highlights

• Kenya spent an average of 5.2% of its allocated defense budget on acquisition expenditure during 2019-23. Over the forecast period, the country is expected to invest around 3.8% of its defense budget in acquisition expenditure. Kenya’s acquisition expenditure over the forecast period is likely to consist of platform-based MDS and armored multirole vehicles.
• Missiles and missile defense systems, military land vehicles and military simulation and training are the most attractive sectors.

Scope

This report offers a detailed analysis of Kenya 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.

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

• Kenya defense budget: detailed analysis of Kenya 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of Kenya's military doctrine and strategy to provide a comprehensive overview of Kenya's military procurement regulation.
• Security Environment: political alliances and perceived security threats to Kenya are examined; they help to explain trends in spending and modernization.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Kenya's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Kenya defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Kenya market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Kenya defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Kenyan government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available