Market Share of GCC Defense Industry
The GCC defense market is semi-consolidated, with few players occupying a significant market share. Some major players in the GCC defense market are Lockheed Martin Corporation, The Boeing Company, Airbus SE, Saudi Arabian Military Industries, and EDGE Group PJSC.
Earlier, foreign players accounted for the majority share in the market due to the countries' dependency on international players for arms and ammunition. However, over the past few years, regional players have gradually increased their share in the market. Saudi Arabia and the United Arab Emirates strongly emphasize indigenous production of defense equipment, and many foreign defense organizations are partnering with local Gulf-based organizations in the defense sector.
For instance, SAMI signed a joint venture agreement with FIGEAC AÉRO Group and the Saudi Arabian Industrial Investments Company (Dussur) to establish SAMI FIGEAC AÉRO Manufacturing LLC. The joint venture will manufacture aerostructure components and machined and processed aerospace parts with light alloy (aluminum) and hard metal (titanium) materials. Similar developments in the product portfolios of regional players are expected to intensify further during the forecast period.
GCC Defense Market Leaders
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Lockheed Martin Corporation
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The Boeing Company
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Airbus SE
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Saudi Arabian Military Industries (SAMI)
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EDGE Group PJSC
*Disclaimer: Major Players sorted in no particular order
