Morocco Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Morocco Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 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.

Morocco is increasing its annual defense budget allocation. In 2023, the defense budget reached $6.1 billion, equating to a yearly increase of 1.3%, down from a high of $6.5 billion in 2021. The defense budget is anticipated to grow to $7.2 billion in 2028, at a positive CAGR of 3.2%. Morocco currently spends 3.96% of its GDP on defense, an exceptionally high proportion of its national wealth. This figure allows Morocco to invest in the requisite technology needed to uphold its sovereignty against the threats perceived by the state. This percentage is forecast to grow to 4.00% in 2028.

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

• Morocco's rivalry with Algeria is the defining aspect of its foreign relations and defense outlook After Spain withdrew from Western Sahara, the relationship between Morocco and Algeria deteriorated
• Morocco has been gradually procuring modern and highly capable platforms and equipment that will prepare the military for a high-intensity conventional conflict
• The autocratic nature of the Moroccan political system creates a large deficit in accountability and has drawn criticism for its vulnerability to corruption

Scope

This report offers detailed analysis of Morocco 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:

• Morocco defense budget: detailed analysis of Morocco 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 Morocco military doctrine and strategy to provide a comprehensive overview of Morocco military procurement regulation
• Security Environment: political alliances and perceived security threats to Morocco are examined; there help to explain trends in spending and modernisation
• Competitive landscape and strategic insights: analysis of the competitive landscape of Morocco's defense industry

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Moroccan 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 Moroccan 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 Morocco 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 Morocco 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 includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available