Quatar: AMI International Releases Latest Naval Market Forecast for MENA
In anticipation of this month’s 3rd annual Doha International Maritime Defence Exhibition (DIMDEX) 2012, AMI International has released its latest naval market forecast for the Middle East & North Africa (MENA) region.
Most recent AMI figures project new naval ship and related equipment expenditures in the MENA regional market will reach $49bn over the next 20 years, up 20-percent from AMI’s 2009 forecast.
Key findings in AMI’s DIMDEX MENA naval market scene setter:
– Saudi Arabia, Iran, Egypt, Algeria and Morocco are projected to be the leading naval spenders in the MENA region over the next 20 years, modernizing their sea services at a sustained rate and acquiring a broad range of ships and systems. Taken together these ‘top six’ make up about 73% of the region’¦s total forecasted naval market by volume (number of new hulls acquired) and about 76% by market value of new ship and system programs.
– Twenty-one active ship construction programs highlight the importance of larger surface combatant procurements in the region’Xspecifically corvettes and frigates. At the same time, 59% of the total ‘new build’ spend in the region will remain focused on smaller patrol craft, amphibious ships, mine countermeasures vessels, and support ships.
– Submarine procurements in the MENA market are gaining renewed importance. In 2008, the region was projected to spend over $3.2bn on new submarine acquisitions. AMI estimates this figure will grow 42% to $7.8 bn over the next 20-years.
The current pace of new MENA naval program activity highlights the region’s position as a growth market in contrast to declining naval procurement budgets in other parts of the world.
With MENA’s ongoing significant investments in new construction ships and related systems, AMI expects this year’s DIMDEX attendance to reach record, as the region’s largest specialized maritime defense exhibition.
Since the first biannual DIMDEX in 2008, the event has grown to become one of the leading naval conference brands worldwide and is the best single venue for gaining insight into the region’¦s unique maritime security requirements and business opportunities.
As the official International Marketing and Media partner with event organizer QMDI (Qatar MICE Development Institute), AMI will once again be on-site providing comments at pre-show press briefings, expert market commentary, support for media engagement, and extensive marketing support before and during the event.
Naval Today Staff , March 19, 2012; Image: dimdex