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Ammon News - AMMONNEWS - Research and Markets has announced the addition of the "Future of the Jordanian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2020" report to their offering.

Jordan's defense budget increased marginally from US$1.70 billion in 2011 to US$1.71 billion in 2015, registering a CAGR of 0.27%. The slow growth rate can be attributed to the country's struggling economy, high unemployment rates, lack of natural resources, and the burden of hosting a large refugee population.

However, Jordan's recent attempts to upgrade its military equipment are expected to drive its defense expenditure over the forecast period, which is projected to rise from US$1.8 billion in 2015 to US$1.9 billion by 2020, at a CAGR of 2.05%. The country is estimated to maintain the budget allocation for capital expenditure at an average of 3.3% over the forecast period

Key Findings

- During 2011-2015, Jordanian defense expenditure registered a growth rate of 0.27%, increasing from US$1.70 billion in 2011 to US$1.71 billion in 2015

- Military expenditure is anticipated to register a CAGR of 2.05% during 2016-2020, to value US$1.9 billion in 2020

- Over the forecast period, the country's budget for homeland security is expected to be US$8.8 billion cumulatively

- The key areas of investment are expected to be armored vehicles, patrol boats, and border surveillance equipment.