DUBLIN–(BUSINESS WIRE)–The “Future
of the Ghanaian Defense Industry – Market Attractiveness, Competitive
Landscape and Forecasts to 2023” report has been added to ResearchAndMarkets.com’s
The Ghanaian defense budget, valued at over US$223 million in 2018,
registered a CAGR of -0.83% during the historic period. The decrease in
budget during the historic period is primarily due to the decline in
exchange rates. However, in local currency terms, the defense budget
recorded steady growth. The country’s military is currently faced with
the huge challenge of preventing the spread of pro-Islamic insurgent
group Boko Haram within the country.
Although Ghana has not been subjected to violent attacks, the country is
surrounded by nations such as Chad, Nigeria, and Niger, all of which
have a significant presence of Islamic State (IS) militants, which poses
a serious threat to the country’s security. In the aftermath of the
fatal attacks in Ivory Coast, Ghana’s National Security Council released
a confidential memo in March 2016, which further attested to the fact
that the country faces significant threat from terrorist attacks.
Ghana is expected to spend a total of US$1.6 billion over the forecast
period on its armed forces, and the country’s military expenditure is
expected to increase at a CAGR of about 12% to cross US$390 million by
2023. The share of capital expenditure out of the total defense budget
decreased from over 22% in 2014 to around 13.3% in 2018, but is expected
to increase, to an average of 14.5%, over the forecast period.
With Ghana’s Air Force and Navy designated to play a supportive role to
the army, Ghana’s Army is expected to account for the majority of
capital expenditure. Robust growth in defense budget is expected to
increase per capita defense expenditure from around US$7.7 in 2018 to
US$11.9 by 2023.
Ghanaian homeland security expenditure increased from over US$340
million in 2014 to over half a billion US$ in 2018, registering a CAGR
of over 10% during the historic period. The Ghanaian homeland security
budget is forecast to increase at a CAGR of about 10.7% over the
forecast period, increasing from around US$560 million in 2019 to more
than US$840 million by 2023.
- Pratt & Whitney
- Embraer S.A.
- Harbin Aircraft Industry (Group) Co., Ltd. (HAIG)
- Defence Industrial Holding Company Limited (DIHOC)
Key Topics Covered
2. Executive Summary
3. Market Attractiveness and Emerging Opportunities
4. Defense Procurement Market Dynamics
5. Industry Dynamics
6. Competitive Landscape and Strategic Insights
7. Business Environment and Country Risk
For more information about this report visit https://www.researchandmarkets.com/research/zvmx8d/ghanaian_defense?w=4