Sustained by the spending habits of the Gulf nations, the Middle East represents one of the world's most robust defense markets and should remain that way in the near future.
According to a recent Middle East military market analysis by Forecast International the GCC countries will account for roughly 60 percent of all defense expenditures made in the region in 2010,
In 2010, these countries are projected to invest over $63 billion toward their armed forces and security, with two-thirds of that total contributed by Saudi Arabia alone.
Forecast International expects that this trend will continue. Combined GCC defense spending is expected to rise in 2011 by an additional 2.5 percent. Over the next five years, the greater Middle East defense market is projected to grow by over 11 percent, reaching nearly $120 billion by 2014.
Source: Forecast International