Oman Defense Market Research Report, Market Opportunities, Market Future: Ken RePosted by kenresearch on November 19th, 2018 The Sultan’s Armed Forces (SAF) play a crucial role in defending the nation. There are three main arms of the SAF: the Royal Army of Oman (RAO), the Royal Air Force of Oman (RAFO) and the Royal Navy of Oman (RNO). The Omani Armed Forces are charged with defending the country, protecting the monarchy, and maintaining internal security. The Ministry of Defense (MOD) is the governmental body in the Sultanate of Oman responsible for all matters relating to the defense of the state. The MoD is headed by the prime minister of Oman. The Ministry deals many agreements to update weapons and equipment, and signs armament deals, according to well-prepared plans and conscious planning that meet the needs of the Sultan's Armed Forces and enables it to perform. The army, known as the Royal Oman Land Forces (ROLF), is the largest of the service branches. The ROLF is organized into regiments: it includes two armored regiments composed of three tank squadrons. Oman is among top 4 emerging markets of the Arab world in 2018 index. Protecting from the external threats and maintaining the internal stability, the government allocated also recently allocated 14.58 percent of its GDP towards defense purposes. During 2014-2018, an average of 39.1% of the country's total defense budget was allocated to capital expenditure, while an average of 60.9% was reserved for revenue expenditure. According to study, “Future of the Omani Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023” some of the major companies that are currently working in the Omani defense industry are BAE Systems, Lockheed Martin, NHIndustries (NHI), Raytheon, FNSS Defense Systems, Bell. Thales is a prime supplier of communication equipment to the Omani Armed Forces and Security Services: it is the main supplier of electronic warfare sensors to the Royal Navy of Oman and Royal Air Force of Oman. Some of the land forces equipment & vehicles are battle tank (M60A1, M-60A3, challenger 2), light armored vehicles (CVRT scorpion, CVRT Spartan, CVRT sultan and stormer), wheeled armored vehicles (Mowag Piranha, Saladin, V150 commando, WZ551 6×6), missile vehicles (anti-tank armored vehicle, anti-aircraft missile, SA-7, Javelin Mistral), artillery vehicles ( Gun 105mm, D-30 122mm, M-46 130mm, FH-70 155mm, G6 155mm) and heavy & light weapons ( Mortar 81mm, TOW 2A, RPG-7, LAW-80, Burns 120mm, M-30 107mm) etc. In 2018, the Omani defense budget stands at USD 9 billion and registered a CAGR of -1.83% during the historic period. The country's cumulative expenditure on the procurement of advanced military hardware is projected to be USD 22.6 billion over the next five years, creating opportunities for suppliers and OEMs. Currently, indigenous defense industrial capabilities are rather limited. However, there are some companies in the country that manufacture and/or provide products and/or services to the defense industry. The country has domestic capacity to produce ammunition through the Oman Munitions Company (OMC). An increase in capital expenditure during the forecast period is primarily due to the country's procurement plans for multirole aircraft, missile defense systems, armored vehicles, and military rotorcraft. In addition, The MoD is expected to invest in the Land-based physical security of critical infrastructure, land-based C4ISR and infrastructure construction. Over the forecast period, the country is expected to continue to procure advanced weapons in order to achieve its purpose of becoming a substantial military force in the region and this will drive the growth in its capital expenditure. To know more, click on the link below:- https://www.kenresearch.com/defense-and-security/defense/omani-defense-industry/156569-16.html Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications +91-9015378249 Like it? Share it! More by this author |