Sections
| Title |
|---|
| Table of Contents |
| 1 Introduction |
| 1.1. What is this Report About? |
| 1.2. Definitions |
| 1.3. Summary Methodology |
| 1.4. About Strategic Defence Intelligence |
| 2 Executive Summary |
| 3 Market Attractiveness and Emerging Opportunities |
| 3.1. Defense Market Size Historical and Forecast |
| 3.1.1. Nigerian Defense expenditure is projected to grow at a CAGR of 3.73% during the forecast period |
| 3.1.2. Insurgency, piracy, oil smuggling, and peacekeeping operations are expected to drive defense expenditure |
| 3.1.3. Defense budget as a percentage of GDP expected to average 0.3% over the forecast period |
| 3.2. Analysis of Defense Budget Allocation |
| 3.2.1. Allocation for capital expenditure expected to average at 34.4% over the forecast period |
| 3.2.2. Capital expenditure budget expected to grow at 14.71%over the forecast period |
| 3.2.3. Allocation for the army accounts for the majority of the defense budget |
| 3.2.4. Army expenditure to grow at a CAGR 3.65% over the forecast period |
| 3.2.5. Naval expenditure to grow at a CAGR of 3.68% over the forecast period |
| 3.2.6. Expenditure on the air force to increase during the forecast period |
| 3.2.7. Percapita defense expenditure expected to increase during the forecast period |
| 3.3. Homeland Security Market Size and Forecast |
| 3.3.1. Homeland security budget projected to increase during the forecast period |
| 3.3.2. The threat from Boko Haram, drug trafficking, cybercrime, and money laundering to drive the homeland security market |
| 3.3.3. Nigeria falls under the worst affected category by terrorist attack |
| 3.3.4. Nigeria faces high level of threat from foreign as well as domestic terrorist organizations |
| 3.3.5. Nigeria has a terrorism Index Score of 9.2 |
| 3.4. Benchmarking with Key Global Markets |
| 3.4.1. The countrys defense budget is expected to increase during the forecast period |
| 3.4.2. Nigerian military expenditure is limited compared to countries with the largest defense expenditure |
| 3.4.3. The country allocates a lower percentage of GDP to defense |
| 3.5. Market Opportunities: Key Trends and Growth Stimulators |
| 3.5.1. Fighters & Multi-role Aircraft |
| 3.5.2. Infantry Fighting Vehicles (IFV) |
| 3.5.3. Attack Helicopters |
| 3.5.4. Transport Aircrafts |
| 4 Defense Procurement Market Dynamics |
| 4.1. Import Market Dynamics |
| 4.1.1. Limited capability of the domestic defense market drives imports |
| 4.1.2. Defense imports expected to increase during the forecast period |
| 4.1.3. China, the US, and Italy account for the majority of the countrys defense imports |
| 4.1.4. Aircraft and ships are the largest imported military hardware |
| 4.2. Export Market Dynamics |
| 4.2.1. Nigeria does not export arms due to its underdeveloped domestic arms industry |
| 5 Industry Dynamics |
| 5.1. Five Forces Analysis |
| 5.1.1. Bargaining power of supplier: low to medium |
| 5.1.2. Bargaining power of buyer: medium to high |
| 5.1.3. Barrier to entry: medium |
| 5.1.4. Intensity of rivalry: low |
| 5.1.5. Threat of substitution: low |
| 6 Market Entry Strategy |
| 6.1. Market Regulation |
| 6.1.1. Nigeria does not disclose any offset obligations imposed by the country |
| 6.1.2. FDI in the defense sector prohibited by the Nigerian government |
| 6.2. Market Entry Route |
| 6.2.1. Direct selling is the preferred market entry route for foreign OEMs |
| 6.3. Key Challenges |
| 6.3.1. Corruption acts as an obstacle for market entry |
| 6.3.2. Small defense budget discourages major suppliers |
| 6.3.3. Unorganized mismanaged industry jeopardizes development of domestic industry |
| 7 Competitive Landscape and Strategic Insights |
| 7.1. Competitive Landscape Overview |
| 7.2. Key Domestic Companies |
| 7.2.1. Defence Industries Corporation of Nigeria: overview |
| 7.2.2. Defence Industries Corporation of Nigeria: products and services |
| 7.2.3. Defence Industries Corporation of Nigeria: recent announcements and strategic initiatives |
| 7.2.4. Defence Industries Corporation of Nigeria: alliances |
| 7.2.5. Defence Industries Corporation of Nigeria: recent contract awards |
| 7.2.6. Dornier Aviation Nigeria AIEP Limited: overview |
| 7.2.7. Dornier Aviation Nigeria AIEP Limited: products and services |
| 8 Business Environment and Country Risk |
| 8.1. Economic Performance |
| 8.1.1. Gross Domestic per Capita |
| 8.1.2. Gross Domestic Product, current US$ |
| 8.1.3. Exports of Goods and Services |
| 8.1.4. Imports of Goods and Services |
| 8.1.5. Gross National disposable income (US$ Bn) |
| 8.1.6. Local Currency Unit per US$ |
| 8.1.7. Market capitalization of listed companies (US$ Bn) |
| 8.1.8. Market capitalization of listed companies (% GDP) |
| 8.1.9. Government cash surplus/deficit as % of GDP (LCU) |
| 8.1.10. Goods Exports as a % of GDP |
| 8.1.11. Goods Imports as a % of GDP |
| 8.1.12. Services Imports as a % of GDP |
| 8.1.13. Services Exports as a % of GDP |
| 8.1.14. Net Foreign Direct Investment |
| 8.1.15. Net FDI as a percentage of GDP |
| 8.1.16. Mining, Manufacturing, Utilities Output (LCU Bn) |
| 9 Appendix |
| 9.1. About SDI |
| 9.2. Disclaimer |
| List of Tables |
| Table 1: Nigerian Defense Expenditure (NGN billion& US$ billion), 2012-2021 |
| Table 2: Nigerian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2012-2021 |
| Table 3: Nigerian Defense Budget Split between Capital and Revenue Expenditure (%), 2012-2021 |
| Table 4: Nigerian Defense Capital Expenditure (NGN Billion &US$ Billion), 2012-2021 |
| Table 5: Nigerian Defense budget Split between the Army, Air Force, Navy, and Others, 2012-2021 |
| Table 6: Nigerian Defense Expenditure for Army (NGN billion & US$ Billion), 2012-2021 |
| Table 7: Nigerian Defense Expenditure for Navy(NGN billion & US$ Billion), 2012-2021 |
| Table 8: Nigerian Defense Expenditure for Air Force(NGN billion & US$ Billion), 2012-2021 |
| Table 9: Nigerian Per Capita Defense Expenditure (US$), 2012-2021 |
| Table 10: Nigerian Homeland Security Expenditure (NGN Billion & US$ billion), 2012-2021 |
| Table 11: Terrorism Index, 2016 |
| Table 12: Benchmarking with Key Markets - 2012-2016 vs. 2017-2021 |
| Table 13: Defence Industries Corporation of Nigeria - Main Products |
| Table 14: Defence Industries Corporation of Nigeria: Alliances |
| Table 15: Defence Industries Corporation of Nigeria: Recent Contract Awards |
| List of Figures |
| Figure 1: Nigerian Defense Expenditure (in NGN Bn), 2012-2021 |
| Figure 2: Nigerian Defense Expenditure (in US$ Bn), 2012-2021 |
| Figure 3: Nigerian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2012-2021 |
| Figure 4:NigerianDefense Budget Split Between Capital and Revenue Expenditure (%), 2012-2021 |
| Figure 5: Nigerian Capital Budget Allocation (NGN Billion),2012-2021 |
| Figure 6: Nigerian Capital Budget Allocation (US$ billion), 2012-2021 |
| Figure 7: Nigerian Defense budget Split between the Army, Air Force, Navy, and Others, 2012-2021 |
| Figure 8: Nigerian Expenditure on Army (NGN Billion), 2012-2021 |
| Figure 9: Nigerian Expenditure on Army (US$ Billion), 2012-2021 |
| Figure 10: Nigerian Expenditure on Navy (NGN Billion), 2012-2021 |
| Figure 11: Nigerian Expenditure on Navy(US$ Billion), 2012-2021 |
| Figure 12: Nigerian Expenditure on Air Force (NGN Billion), 2012-2021 |
| Figure 13: Nigerian Expenditure on Air Force (US$ Billion), 2012-2021 |
| Figure 14:Nigerian Per Capita Defense Expenditure (US$), 2012-2021 |
| Figure 15: Nigerian Homeland Security Budget (NGN billion), 2012-2021 |
| Figure 16: Nigerian Homeland Security Budget (US$ billion), 2012-2021 |
| Figure 17: Terrorism Heat Map, 2016 |
| Figure 18: Terrorism Index, 2016 |
| Figure 19: Benchmarking with Key Markets - 2011-2015 vs. 2016-2020 |
| Figure 20: Defense Expenditure of the World's Largest Military Spenders (US$ Billion), 2016 and 2021 |
| Figure 21: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2016 |
| Figure 22: Fighters & Multi-role Aircraft Market Size (US$ Million), 2016-2026 |
| Figure 23: Infantry Fighting Vehicles (IFV) Helicopters Market Size (US$ Million), 2016-2026 |
| Figure 24: Attack Helicopters Market Size (US$ Million), 2016-2026 |
| Figure 25: Transport Aircraft Market Size (US$ Million), 2016- 2026 |
| Figure 26: Nigerian Defense Import Trend, 2011-2015(US$ Mn) |
| Figure 27: Nigerian Defense Imports by Country (%), 2011-2015 |
| Figure 28: Nigerian Defense Imports by Category (%),2011-2015 |
| Figure 29: Industry Dynamics - Porter's Five Forces Analysis |
| Figure 30: Nigeria's GDP per capita, 2016-2025 |
| Figure 31: Nigeria's Gross Domestic Product (current US$ Billion), 2016-2025 |
| Figure 32: Nigeria's Exports of goods and services (LCU Billion), 2005-2014 |
| Figure 33: Nigeria's Imports of goods and services (LCU Billion), 2005-2014 |
| Figure 34: Nigeria's Gross National disposable income (US$ Bn), 2005-2012 |
| Figure 35: Nigeria's LCU per US$, 2015-2024 |
| Figure 36: Nigeria's Market capitalization of listed companies (US$ Bn), 2005-2012 |
| Figure 37: Nigeria's Market capitalization of listed companies (% GDP), 2005-2012 |
| Figure 38: Nigerian Government cash surplus/deficit as a % of GDP (LCU), 2005-2012 |
| Figure 39: Nigeria's Goods Exports as a % of GDP, 2005-2012 |
| Figure 40: Nigeria's Goods Imports as a % of GDP, 2005-2012 |
| Figure 41: Nigeria's Services Imports as a % of GDP, 2005-2012 |
| Figure 42: Nigeria's Services Exports as a % of GDP, 2002-2011 |
| Figure 43: Nigeria's Net Foreign Direct Investment (BoP, current US$ Billion), 2005-2012 |
| Figure 44: Nigeria's Net FDI as a percentage of GDP, 2005-2012 |
| Figure 45: Nigeria's Mining, Manufacturing, Utilities Output (LCU Bn) 2005-2014 |
