Future of the Libyan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Libyan defense industry, valued at over US$3Billion in 2019, is anticipated to record a CAGR of more than 1.5% over the forecast period, to reach about US$3.4 Billion in 2023. Libya is focusing on reconstructing and strengthening its security forces after the 2011 revolution, during which the people successfully overthrew one of the longest dictatorial regimes which spanned over four decades. This has resulted in a substantial increase initially in the military expenditure of the country.

Libyan capital expenditure is expected to increase from over US$550 million in 2019 to about US$580 million in 2023, growing at a CAGR of just over 1.4%. The Libyan government is expected to procure multi-role and fighter aircraft, transport aircraft and helicopters, personnel weapons, armored vehicles, body armor & personnel protection equipment radar, and imaging systems, and other surveillance equipment. Business opportunities will arise in the form of security platforms as the country looks to strengthen its borders.

One of the major security challenges Libya faces is its 2000km Mediterranean coastline. Threats from six neighboring African countries are ever present and organized crime is prevalent in the border region. The porousness of Libya’s border and its susceptibility to smuggling along, with the circulation of criminals, led to high spending on the country’s homeland security (HLS).

The report "Future of the Libyan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" 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, this report provides an in-depth analysis of the following:

The Libya defense industry market size and drivers: Detailed analysis of the Libya defense industry during 2019-2023, 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 Libyan defense industry.

Companies mentioned in this report: Lockheed Martin, Leonardo S.p.A. and KBP Instrument Design Bureau

Scope

The Libyan defense industry, valued at US$3.2 billion in 2019, is anticipated to record a CAGR of 1.56% over the forecast period, to reach US$3.4 billion in 2023.
Libya is focusing on reconstructing and strengthening its security forces after the 2011 revolution, during which the people successfully overthrew one of the longest dictatorial regimes which spanned over four decades.
This has resulted in a substantial increase initially in the military expenditure of the country.

Reasons to buy

• This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Libyan 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 Libyan defense industry covering sections including demand drivers, key trends, and latest industry contracts