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News

Increased defence spending improves Saudi Arabian security market

Research And Markets : 10 March, 2014  (New Product)
The market for security systems in Saudi Arabia is expected to increase as a result of increased defence spending in the region, according to a new report
Increased defence spending improves Saudi Arabian security market

Research and Markets has announced the addition of the "Concise Analysis of the Saudi Arabian Security Market" report to their offering.

One of the major trends in the Security Sector of the Kingdom of Saudi Arabia is the increasing number of international defence deals. As the defence budget of Saudi Arabia is increasing significantly, its foreign collaborations for military affairs are also increasing. Saudi Arabia mainly engages in defence deals with the US and UK for their defence machineries. Also, other major European countries such as Germany and France supply defence machineries to Saudi Arabia.

Hence, as the defence number of international defence deals increase, the Security Sector in the Kingdom of Saudi Arabia is expected to grow significantly.

According to the report, one of the major drivers in the market is strong economy. As Saudi Arabia is the largest economy in the Gulf region and is one the major exporters of petroleum, its economy is financially strong. Therefore, the availability of abundant revenue from the natural resource makes it a strong economy which has the capability of investing in security sector.

Further, the report states that one of the major challenges is the high dependence on import machineries. In Saudi Arabia, most of the defence machineries are imported from the US, the UK, and France.

The report can be purchased directly from Research and Markets here: "Concise Analysis of the Saudi Arabian Security Market"

 

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