NEW YORK, March 11, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Product SynopsisThis report is the result of ICD Research / Strategic Defence Intelligence's extensive market and company research covering the Saudi Arabian defense industry. It provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.. Introduction and Landscape Why was the report written?The Saudi Arabian Defense Industry Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017, offers the reader insights into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Saudi Arabian defense industry. What is the current market landscape and what is changing? During the review period the Saudi Arabian defense budget recorded a CAGR of 7.2%. Expenditure was supported by a modernization program, strained relationship with Iran, high spending power, and a lack of skilled personnel. In 2012 the Saudi Arabian defense budget stood at 7.8% of GDP, and is expected to increase to 8.6% of GDP by 2017. During the review period, Saudi Arabia's capital expenditure allocation stood at 30% of the total defense budget and this is expected to remain at the same level over the forecast period. What are the key drivers behind recent market changes?The Saudi Arabian government's hopes of strengthening its defense infrastructure in order to emerge as the most powerful nation in the Middle East, have been supported by many years of high oil prices and strong economic growth. The strained relationship with Iran is considered as a key driver for defense spending. In a power struggle for regional influence, Iranian nuclear dreams and terrorist activities keeps the country's defense expenditure soaring. Continuous increases in oil prices is also cited as another key reasons for Saudi Arabia to stand among tope defense spenders in the world. What makes this report unique and essential to read?