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Future of the Moroccan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018

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Albany, NY -- (SBWIRE) -- 11/27/2013 -- Product Synopsis

This report is the result of SDI's extensive market and company research covering the Moroccan defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.

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Introduction and Landscape

Why was the report written?

The Future of the Moroccan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Moroccan defense industry.

What is the current market landscape and what is changing?

As one of the major non-NATO allies of the US, the defense spending capability of Morocco is expected to increase over the forecast period. The defense budget, which is projected to be US$3.8 billion in 2014, is expected to increase at a CAGR of 4.42% during the forecast period, and reach US$4.5 billion by 2018. This growth is primarily due to the government's steps to combat internal and external terrorist attacks, strengthen border security and procure new defense systems. Per-capita defense expenditure is expected to grow during the forecast period from US$113.7 million in 2014 to US$130.1 million in 2018.The capital expenditure budget is forecast to increase from US$1.1 billion in 2014 to US$1.4 billion in 2018, recording a CAGR of 5.62%, due to the government's modernization plans. The country's budget for homeland security is projected to increase over the forecast period, driven by increasing threats from human trafficking, drug smuggling and internal security. Demand for equipment over the forecast period is mainly expected to revolve around fighter aircraft, diesel electric submarine, surveillance and monitoring equipment, and patrol ships.

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What are the key drivers behind recent market changes?

Certain factors pertaining to the security of Morocco are expected to drive the nation's defense expenditure in the coming years. These include the risks of attack from internal and external terrorist groups, and border conflicts with Algeria and Spain. Additionally, ammunition modernization initiatives will be an area of focus for military expenditure over the forecast period.

What makes this report unique and essential to read?

The Future of the Moroccan Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.

Key Features and Benefits

The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Moroccan defense industry.

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The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.

The report helps the reader to understand the competitive landscape of the defense industry in Morocco. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Key Market Issues

Morocco is prone to high levels of corruption in virtually all sectors of business activity. According to Transparency International's Corruption Perceptions Index 2012, Morocco is classified as a highly corrupt country. Corruption has manifested itself in various forms ranging from bureaucratic and political affairs and misappropriation of public resources to fraud transactions related to state assets. The lack of transparency in the matters of national defense and security policy and the absence of internal audit of the Ministry of Defense (MoD) has aggravated the level of corruption within the sector.

Morocco receives large quantities of US FMF that is directed towards the country's defense capital expenditure. With a large quantity of US equipment in Morocco's defense base, the two countries share close business ties that are expected to continue over the forecast period. Morocco also remains highly dependent on US companies for the maintenance and support of its equipment and weapons. Furthermore, being an associated country of EU, Morocco gives preference to EU nations, particularly France, in terms of trade. Therefore, as long as these relationships persist, the US and France are set to dominate the Moroccan defense market in the forecast period; creating an obstacle for the suppliers of the Chinese and Russian territories.

Key Highlights

Morocco is involved in a long-standing conflict regarding the Western Sahara region that is phosphate-rich and believed to hold offshore oil deposits. After Spain withdrew its colonial control over Western Sahara in 1975, Morocco sought to regain control over the region. However, Morocco faced severe opposition from Popular Front for the Liberation of Saguia al-Hamra and Rio de Oro (POLISARIO) - a group established by the Saharawi people and backed by Algeria, Cuba, and Libya. As a result, a guerrilla war for independence started that lasted until1991, when the UN (United Nations) intervened and launched a ceasefire that exists to the present day. Morocco currently controls 85% of the Western Sahara called Southern Provinces, while the remaining 15% is under POLISARIO, leading to instability and a rise of terrorist and criminal activities within the region. The risk of future conflicts between the two parties is high and to combat such a situation, Morocco needs to keep its armed forces well-equipped.

Morocco stands as one of the prime hubs in Africa to be involved with human trafficking. The country serves as a source as well as a destination for human trafficking, where men, women and even children are being forced into numerous illicit activities. Due to its close proximity to Europe, human trafficking gangs use Morocco as a stopover point. While women from Cote d'Ivoire, Philippines, and Indonesia are brought to Morocco to work as forced labor, native Moroccans are being sent to various European and Middle East countries to perform illicit activities. Although the government did adopt measures to curb these activities, they were not adequate enough to yield results and Morocco is on the Tier 2 Watch List in the area of human trafficking. In June 2013, the UN stated that Morocco needs to go for stricter rules and measures to combat human trafficking. Over the forecast period, the government is expected to invest in strengthening its border security, both on land and along the coast, to control such activities.

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During the period 2008-2010, Morocco displayed a low level of imports, with a jump of 378.5% in 2011. In an attempt to enhance the capabilities of its armed forces, Morocco is expected to import defense equipment such as aircraft, armored vehicles, and radar systems, during the forecast period. Morocco currently does not export arms as the domestic defense industry is under-developed, but this is a trend that is expected to change over the forecast period with the attempts of the government to develop and expand the domestic defense manufacturing industry.

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