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Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

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Date: 27-Mar-2018
No. of pages: 67
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Summary

The Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023, published by Strategic Defence Intelligence, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report offers detailed analysis of the Ghananian defense industry 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 -


  • The Ghana defense industry market size and drivers: detailed analysis of the Ghanaian defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns

  • Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country

  • Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years

  • Market opportunities:list of the top ten defense investment opportunities over the next 5 years

  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Ghanaiandefense industry


Scope


  • The Ghanaian defense budget, valued at US$223.6 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.


Reasons to buy


  • This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Ghanaian defense industry market trends for the coming five years

  • The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period

  • Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector

  • A deep qualitative analysis of the Ghanaian defense industry covering sections including demand drivers, Key Trends , and latest industry contracts.


Companies Mentioned


  • Pratt & Whitney

  • Embraer S.A.

  • Harbin Aircraft Industry (Group) Co., Ltd. (HAIG)

  • Defence Industrial Holding Company Limited (DIHOC)

Future of the Ghanaian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Table of Contents

1. Introduction 6
1.1. What is this Report About? 6
1.2. Definitions 6
1.3. Summary Methodology 8
1.4. About Strategic Defence Intelligence 10

2. Executive Summary 11

3. Market Attractiveness and Emerging Opportunities 13
3.1. Current Market Scenario 14
3.1.1. Military Fleet Size 14
3.1.2. Procurement Programs 17
3.1.3. Key Drivers and Challenges 18
3.2. Defense Market Size Historical and Forecast 20
3.2.1. Ghanaian defense expenditure is projected to grow at a CAGR of 12.12% over the forecast period 20
3.2.2. Insurgency, piracy, oil smuggling, and peacekeeping operations are expected to drive defense expenditure 23
3.2.3. Defense budget as a percentage of GDP expected to average 0.52% over the forecast period 24
3.3. Analysis of Defense Budget Allocation 26
3.3.1. Allocation for capital expenditure expected to average at 14.5% over the forecast period 26
3.3.2. Capital expenditure budget expected to increase over the forecast period 28
3.3.3. Per-capita defense expenditure expected to increase over the forecast period 30
3.4. Homeland Security Market Size and Forecast 31
3.4.1. Homeland security budget projected to increase over the forecast period 31
3.4.2. The threat from Boko Haram, drug trafficking, cybercrime, and money laundering to drive spending in the homeland security market 34
3.4.3. Ghana falls under the ‘some risk category’ by terrorist attack 35
3.4.4. Ghana has a rank of 110 in the terrorism index 36
3.4.5. Ghana has a terrorism index score of 0.3 38
3.5. Benchmarking with Key Global Markets 39
3.5.1. The country’s defense budget is expected to increase during the forecast period 39
3.5.2. Ghanaian military expenditure is limited compared to the countries with the largest defense expenditure 41
3.5.3. The country allocates a lower percentage of GDP to defense 42
3.6. Market Opportunities: Key Trends 43
3.6.1. Top 10 Defense market sectors by value (US$ Million) - Projections over period 2018-2023 43

4. Defense Procurement Market Dynamics 44
4.1. Import Market Dynamics 45
4.1.1. Limited capability of the domestic defense market drives imports 45
4.1.2. China, Russia, Spain and Canada accounts for most of the country’s defense imports 46
4.1.3. Aircraft, Armored vehicles and Engines are the largest imported military hardware 47
4.2. Export Market Dynamics 48
4.2.1. Ghana does not export arms due to its underdeveloped domestic arms industry 48

5. Industry Dynamics 49
5.1. Market Regulation 49
5.1.1. Budgeting Process 49
5.1.2. Procurement Policy and Process 49
5.1.3. Ghana does not disclose any offset obligations imposed by the country 49
5.1.4. FDI in the defense sector prohibited by the Ghanaian government 49
5.2. Market Entry Route 50
5.2.1. Direct selling is the preferred market entry route for foreign OEMs 50

6. Competitive Landscape and Strategic Insights 51
6.1. Competitive Landscape Overview 51

7. Business Environment and Country Risk 52
7.1. Economic Performance 52
7.1.1. Gross Domestic Product Per Capita (US$) 52
7.1.2. Gross Domestic Product, current US$ 53
7.1.8. Government cash surplus/deficit as % GDP (LCU) 59
7.1.9. Goods Exports as a % of GDP 60
7.1.10. Goods Imports as a % of GDP 61
7.1.11. Services Imports as a % of GDP 62
7.1.12. Net Foreign Direct Investment 63
7.1.13. Services Exports as a % of GDP 64
7.1.14. Net FDI as a percentage of GDP 65
7.1.15. Mining, Manufacturing, Utilities Output (LCU Billion) 66

8. Appendix 67
8.1. About SDI 67
8.2. Disclaimer 67

List of Tables

Table 1: Ghana Army Strength 14
Table 2: Ghana Air Force Strength 15
Table 3: Ghana Navy Strength 16
Table 4: Ghana - Ongoing Development and Procurement Programs 17
Table 5: Ghana - Future Procurement Programs 17
Table 6: Ghanaian Defense Expenditure (GHS Million & US$ Million), 2014-2023 21
Table 7: Ghanaian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2014-2023 24
Table 8: Ghanaian Defense Budget Split between Capital and Revenue Expenditure (%), 2014-2023 26
Table 9: Ghanaian Defense Capital Expenditure (GHS Million & US$ Million), 2014-2023 28
Table 10: Ghanaian Per-Capita Defense Expenditure (US$), 2014-2023 30
Table 11: Ghanaian Homeland Security Expenditure (GHS Billion & US$ Million), 2014-2023 32
Table 12: Terrorism Index, 2018 36
Table 13: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 39
Table 14: Top 10 Ghanaian Defense Market Sectors by Value (US$ Million) - 2018-2023 43
Table 15: Ghana Budgeting Process 49
Table 16: Competitive Landscape of the Ghanaian Defense Industry 51

List of Figures

Figure 1: Ghanaian Defense Expenditure (in GHS Million), 2014-2023 21
Figure 2: Ghanaian Defense Expenditure (in US$ Million), 2014-2023 22
Figure 3: Ghanaian GDP Growth vs. Defense Expenditure as Percentage of GDP Growth, 2014-2023 25
Figure 4: Ghanaian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 27
Figure 5: Ghanaian Capital Budget Allocation (GHS Million), 2014-2023 29
Figure 6: Ghanaian Capital Budget Allocation (US$ Million), 2014-2023 29
Figure 7:Ghanaian Per-Capita Defense Expenditure (US$), 2014-2023 30
Figure 8: Ghanaian Homeland Security Budget (GHS Billion), 2014-2023 32
Figure 9: Ghanaian Homeland Security Budget (US$ Million), 2014-2023 33
Figure 10: Terrorism Heat Map, 2018 35
Figure 11: Terrorism Index, 2018 38
Figure 12: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 40
Figure 13: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2018 and 2023 41
Figure 14: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 42
Figure 15: Ghanaian Defense Import Trend, 2013-2017 (TIV values) 45
Figure 16: Ghanaian Defense Imports by Country (US$ Million), 2013-2017 46
Figure 17: Ghanaian Defense Imports by Weapon Category (%), 2013-2017 47
Figure 18: Ghana’s GDP per capita (US$), 2015-2025 52
Figure 19: Ghana’s Gross Domestic Product (current US$ Billion), 2015-2025 53
Figure 20: Ghana’s Exports of goods and services (LCU Billion), 2005-2014 54
Figure 21: Ghana’s Imports of goods and services (LCU Billion), 2005-2014 55
Figure 22: Ghana’s LCU per US$, 2015-2024 56
Figure 23: Ghana’s Market capitalization of listed companies (US$ Billion), 2005-2012 57
Figure 24: Ghana’s Market capitalization of listed companies (% GDP), 2005-2012 58
Figure 25: Ghanaian Government cash surplus/deficit as a % of GDP (LCU), 2005-2011 59
Figure 26: Ghana’s Goods Exports as a % of GDP, 2005-2013 60
Figure 27: Ghana’s Goods Imports as a % of GDP, 2005-2013 61
Figure 28: Ghana’s Services Imports as a % of GDP, 2005-2013 62
Figure 29: Ghana’s Net Foreign Direct Investment (BoP, current US$ Billion), 2005-2013 63
Figure 30: Ghana’s Services Exports as a % of GDP, 2005-2013 64
Figure 31: Ghana’s Net FDI as a percentage of GDP, 2005-2013 65
Figure 32: Ghana’s Mining, Manufacturing, Utilities Output (LCU Billion) 2005-2014 66

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