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Summary
Morocco's defense spending capability is expected to increase over the forecast period, at a CAGR of 3.57%. The defense budget, which is projected to be US$3.3 billion in 2016, is expected to reach US$3.8 billion by 2020. This growth is primarily due to the government's steps to combat internal and external terrorist attacks, fortify border security, and procure new defense systems.

Key Findings
- Moroccan defense expenditure recorded a CAGR of -0.48% between 2011 and 2015, and valuesUS$3.3 billion in 2015

- The country's total defense expenditure during the forecast period is expected to be US$18.0 billion

- The average share of capital expenditure is expected to be 33.2% over the forecast period, compared to an average share of 32.8% during 2011-2015

- Over the forecast period, the country's budget for homeland security is expected to be US$2.9 billion

- The key areas of investment are expected to be aircraft MRO, submarine, naval vessels, and surveillance equipment

Synopsis
Strategic Defense Intelligence's MoroccanDefense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2020 report offers detailed analysis with market size forecasts for 2016-2020. The factors that influence demand, key market trends, and challenges faced by industry participants are also covered.

In particular, it provides an in-depth analysis of the following:

- Defense industry market size from 2016-2020, including highlights of the demand drivers and growth stimulators. A snapshot of the country's expenditure and modernization patterns are provided

- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to the army, navy, and air force. The key challenges faced by defense market participants within the country are also detailed

- Porter's five forces analysis: study the market characteristics by determining the bargaining power of suppliers, buyers, threat of substitution, intensity of rivalry, and barriers to entry

- Import and export dynamics: review the prevalent trends in the country's imports and exports over the last five years

- Market opportunities: identify the top five defense investment opportunities from 2015 to 2025

- Competitive landscape and strategic insights: including an overview of leading players, key alliances, strategic initiatives, and a brief financial analysis

Reasons To Buy
- Identify and track the global defense market and make regional comparisons to effectively target new revenue streams

- Understand the importance of being led by the defense ministries in the military procurement market and define your strategies with insight on what your customers really want by analyzing recent orders, technical specifications, and the country's expected investment pattern during 2016-2020

- Make correct business decisions based on a detailed analysis of the industry from 2016-2020, which includes the total competitive landscape of the sector with detailed profiles of the top domestic and foreign defense manufacturers along with information about their products, alliances, recent contract wins, and financial analysis

- Determine prospective investment areas by gaining an in-depth understanding of the industry in terms of market opportunities

- Channelize resources by identifying various military requirements that are expected to generate revenues across different sectors during 2016-2020

Table Of Contents

Future of the Moroccan Defense Industry - Market Attractiveness, Competitive Landscape, and Forecasts to 2020
Table of Contents
1 Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size Historical and Forecast
3.1.1. Moroccan defense budget is expected to register a CAGR of 3.57% over the forecast period
3.1.2. Counter-terrorism, border security, and the need to modernize outdated defense equipment to drive Morocco's defense expenditure
3.1.3. Defense expenditure as a percentage of GDP is expected to average 2.8% over the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Share of capital expenditure expected to increase over the forecast period
3.2.2. Capital expenditure expected to grow at a CAGR of 4.04% over the forecast period
3.2.3. Moroccan revenue expenditure expected to cumulatively value US$12.0 billion during the forecast period
3.2.4. Per capita defense expenditure expected to increase during the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security budget projected to increase over the forecast period
3.3.2. Human trafficking, drug smuggling, and cybercrime form the major components of homeland security expenditure
3.3.3. Morocco is at some risk from external and internal threats
3.4. Benchmarking with Key Global Markets
3.4.1. Morocco is the fourth largest defense spender in the North African region
3.4.2. Morocco's military expenditure is low when compared to the largest defense spenders but on par in comparison to the other African countries
3.4.3. Morocco allocates a moderate percentage of GDP to defense
3.4.4. Morocco faces some threat of terrorism
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Diesel Electric Submarine
3.5.2. Frigates
3.5.3. Aviation MRO
4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Defense imports to be driven by modernization initiatives over the forecast period
4.1.2. Morocco imports majority of arms from Europe
4.1.3. Aircraft accounted for the majority of defense imports during 2010-2014
4.2. Export Market Dynamics
4.2.1. Morocco does not export arms due to its under-developed domestic arms industry
5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of the supplier: medium to high
5.1.2. Bargaining power of the buyer: low to medium
5.1.3. Barrier to entry: medium to high
5.1.4. Intensity of rivalry: medium
5.1.5. Threat of substitution: medium
6 Market Entry Strategy
6.1. Market Regulation
6.1.1. Morocco does not disclose any offset obligations imposed by the country
6.1.2. Foreign direct investment (FDI) is determined on a case-to-case basis
6.2. Market Entry Route
6.2.1. Government-to-government agreements are the preferred market entry route for foreign OEMs
6.2.2. Joint venture and license manufacturing agreements provide an attractive market entry route
6.3. Key Challenges
6.3.1. Corruption and lack of transparency characterize the Moroccan defense industry
6.3.2. Domination of companies from the US and Europe poses a challenge to other foreign firms
7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Foreign suppliers manufacture defense systems overseas and deliver to Morocco
7.2. Key Domestic Companies
7.2.1. Lockheed Martin Corp.: overview
7.2.2. Lockheed Martin Corp.: products and services
7.2.3. Lockheed Martin Corp.: recent announcements and strategic initiatives
7.2.4. Lockheed Martin Corp.: recent contract wins
7.2.5. Raytheon: overview
7.2.6. Raytheon: products and services
7.2.7. Raytheon: recent announcements and strategic initiatives
7.2.8. Raytheon: recent contract wins
7.2.1. Damen Schelde Naval Shipbuilding: Overview
7.2.2. Damen Schelde Naval Shipbuilding: products and services
7.2.3. Damen Schelde Naval Shipbuilding: recent announcements and strategic initiatives
7.2.4. Damen Schelde Naval Shipbuilding: recent contract wins
8 Business Environment and Country Risk
8.1. Demographics and Social Statistics
8.1.1. Total Rural Population
8.1.2. Total Urban Population
8.1.3. Number of households
8.2. Economic Performance
8.2.1. GDP Per Capita
8.2.2. GDP, Current Prices
8.2.3. Exports of goods and services (current USD Bn)
8.2.4. Imports of goods and services (current USD Bn)
8.2.5. Gross National disposable income (USD Bn)
8.2.6. Manufacturing Output (USD Bn)
8.2.7. Consumer Price Index
8.2.8. Local Currency Unit per US Dollars
8.2.9. Local Currency Unit per Euro
8.2.10. Deposit Rate
8.2.11. Market capitalization of listed companies (USD Bn)
8.2.12. Market capitalization of listed companies (% of GDP)
8.2.13. Total Government cash surplus/deficit (LCU Bn)
8.2.14. Government cash surplus/deficit as % of GDP (LCU)
8.2.15. Goods exports as a % of GDP
8.2.16. Goods imports as a % of GDP
8.2.17. Goods balance as a % of GDP
8.2.18. Services imports as a % of GDP
8.2.19. Service exports as a % of GDP
8.2.20. Services balance as a % of GDP
8.2.21. Foreign direct investment, net (BoP, current US$ Bn)
8.2.22. Net foreign direct investment as % of GDP
8.2.23. International reserves, including gold
8.2.24. External Debt as % of GDP
8.3. Energy and Utilities
8.3.1. Conventional Thermal Electricity Net Generation
8.3.2. Hydroelectricity Net Generation
8.3.3. Conventional Thermal Electricity Installed Capacity
8.3.4. Electricity Imports
8.3.5. Proved Natural Gas Reserves
8.3.6. Petroleum Consumption
8.3.7. Crude Oil Proved Reserves
8.3.8. Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts)
8.4. Infrastructure
8.4.1. Roads, total network (km)
8.4.2. Rail lines (total route-km)
8.4.3. Overall construction (US$ Million)
8.5. Minerals
8.5.1. Mining, Manufacturing, Utilities Output
8.6. Technology
8.6.1. Patents Granted
8.7. Telecommunication
8.7.1. Telephone Lines
8.7.2. Telephone Lines Penetration Rate
9 Appendix
9.1. About SDI
9.2. Disclaimer


List of Tables
Table 1: Moroccan Defense Expenditure (US$ billion), 2011-2015
Table 2: Moroccan Defense Expenditure (US$ billion), 2016-2020
Table 3: Moroccan Defense Expenditure (MAD Billion), 2011-2015
Table 4: Moroccan Defense Expenditure (MAD Billion), 2016-2020
Table 5: Moroccan GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2011-2015
Table 6: Moroccan GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2016-2020
Table 7: Moroccan Defense Budget Split Between Capital and Revenue Expenditure (%), 2011-2015
Table 8: Moroccan Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2020
Table 9: Moroccan Capital Budget Allocation (US$ Billion), 2011-2015
Table 10: Moroccan Capital Budget Allocation (US$ Billion), 2016-2020
Table 11: Moroccan Capital Expenditure (MAD Billion), 2011-2015
Table 12: Moroccan Capital Expenditure (MAD Billion), 2016-2020
Table 13: Moroccan Revenue Budget Expenditure (US$ Billion), 2011-2015
Table 14: Moroccan RevenueBudget Allocation (US$ billion), 2016-2020
Table 15: Moroccan Revenue Expenditure (MAD Billion), 2011-2015
Table 16: Moroccan Revenue Expenditure (MAD Billion), 2016-2020
Table 17: Moroccan Per Capita Defense Expenditure (US$), 2011-2015
Table 18: Moroccan Per Capita Defense Expenditure (US$), 2016-2020
Table 19: Moroccan Homeland Security Expenditure (US$ million), 2011-2015
Table 20: Moroccan Homeland Security Budget (US$ million), 2016-2020
Table 21: Moroccan Homeland Security Budget (MAD Billion), 2011-2015
Table 22: Moroccan Homeland Security Budget (MAD Billion), 2016-2020
Table 23: Benchmarking with Key Markets - 2011-2015vs. 2016-2020
Table 24: SDI Terrorism Index
Table 25: Lockheed Martin Corp.- Product Focus
Table 26:Lockheed Martin Corp - Contracts
Table 27: Raytheon - product focus
Table 28: Raytheon - contracts
Table 29: Damen Schelde Naval Shipbuilding- Product focus
Table 30: Damen Schelde Naval Shipbuilding - Contracts


List of Figures
Figure 1: Moroccan Defense Expenditure (US$ billion), 2011-2015
Figure 2: Moroccan Defense Expenditure (US$ billion), 2016-2020
Figure 3: Moroccan Defense Expenditure (MAD Billion), 2011-2015
Figure 4: Moroccan Defense Expenditure (MAD Billion), 2016-2020
Figure 5: Moroccan GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2011-2015
Figure 6: Moroccan GDP Growth vs. Defense Expenditure Growth and Defense Expenditure as Percentage of GDP Growth, 2016-2020
Figure 7: Moroccan Defense Budget Split Between Capital and Revenue Expenditure (%), 2011-2015
Figure 8: Moroccan Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2020
Figure 9: Moroccan Capital Budget Allocation (US$ Billion),2011-2015
Figure 10: Moroccan Capital Budget Allocation (US$ Billion), 2016-2020
Figure 11: Moroccan Capital Expenditure (MAD Billion), 2011-2015
Figure 12: Moroccan Capital Expenditure (MAD Billion), 2016-2020
Figure 13: Moroccan Revenue Budget Expenditure (US$ Billion), 2011-2015
Figure 14: Moroccan RevenueBudget Allocation (US$ billion), 2016-2020
Figure 15: Moroccan Revenue Expenditure (MAD Billion), 2011-2015
Figure 16: Moroccan Revenue Expenditure (MAD Billion), 2016-2020
Figure 17: Moroccan Per Capita Defense Expenditure (US$), 2011-2015
Figure 18: Moroccan Per Capita Defense Expenditure (US$), 2016-2020
Figure 19: Moroccan Homeland Security Expenditure (US$ million), 2011-2015
Figure 20: Moroccan Homeland Security Budget (US$ million), 2016-2020
Figure 21: Moroccan Homeland Security Budget (MAD Billion), 2011-2015
Figure 22: Moroccan Homeland Security Budget (MAD Billion), 2016-2020
Figure 23: SDI Terrorism Heat Map, 2015
Figure 24: Benchmarking with Key Markets - 2011-2015 vs. 2016-2020
Figure 25: Defense Expenditure of the World's Largest Military Spenders (US$ Billion), 2015 and 2020
Figure 26: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2015
Figure 27: SDI Terrorism Index, 2015
Figure 28: Moroccan Defense Import Trend(US$ million), 2010-2014 (TIV values)
Figure 29: Moroccan Defense Imports by Country (%), 2010-2014
Figure 30: Moroccan Defense Imports by Category (%), 2010-2014
Figure 31: Industry Dynamics Porter's Five Forces Analysis
Figure 32: Moroccan Rural Population (In Millions), 2014-2023
Figure 33: Moroccan Urban Population (In Millions), 2014-2023
Figure 34: Moroccan Number of Households (In Millions), 2008-2017
Figure 35: Moroccan GDP Per Capita at Constant Prices (US$), 2014-2023
Figure 36: Moroccan GDP, Current Prices (US$ Billion), 2014-2023
Figure 37: Moroccan Exports of goods and services (current USD Bn), 2003-2012
Figure 38: Moroccan Imports of goods and services (current USD Bn), 2003-2012
Figure 39: Moroccan Gross National disposable income (USD Bn), 2003-2012
Figure 40: Moroccan Manufacturing Output (USD Bn), 2003-2011
Figure 41: Moroccan Consumer Price Index, 2014-2023
Figure 42: Local Currency per USD, 2014-2023
Figure 43: Local Currency per Euro, 2014-2023
Figure 44: Deposit Rate (%), 2003-2012
Figure 45: Moroccan Market capitalization of listed companies (USD Bn), 2003-2012
Figure 46: Moroccan Market capitalization of listed companies (% of GDP), 2002-2011
Figure 47: Moroccan Total Government cash surplus/deficit (LCU Bn), 2002-2011
Figure 48: Moroccan Government cash surplus/deficit as % of GDP (LCU), 2002-2011
Figure 49: Moroccan Goods exports as a % of GDP, 2002-2011
Figure 50: Moroccan Goods imports as a % of GDP, 2002-2011
Figure 51: Moroccan Goods balance as a % of GDP, 2003-2011
Figure 52: Moroccan Services imports as a % of GDP, 2002-2011
Figure 53: Moroccan Service exports as a % of GDP, 2003-2011
Figure 54: Moroccan Services balance as a % of GDP, 2002-2011
Figure 55: Moroccan Foreign direct investment, net (BoP, current US$ Bn), 2002-2011
Figure 56: Moroccan Net foreign direct investment as % of GDP, 2002-2011
Figure 57: Moroccan International reserves, including gold (US$ Billion), 2002-2011
Figure 58: Moroccan External Debt as % of GDP (%), 2001-2010
Figure 59: Moroccan Conventional Thermal Electricity Net Generation (Billion Kilowatt hours), 2001-2010
Figure 60: Moroccan Hydroelectricity Net Generation (Billion Kilowatt hours), 2001-2010
Figure 61: Moroccan Conventional Thermal Electricity Installed Capacity (Million Kilowatts), 2001-2010
Figure 62: Moroccan Electricity Imports (Billion Kilowatt hours), 2001-2010
Figure 63: Moroccan Proved Natural Gas Reserves (Trillion Cubic Feet), 2004-2013
Figure 64: Moroccan Petroleum Consumption (Thousand Barrels Per Day), 2003-2012
Figure 65: Moroccan Crude Oil Proved Reserves (Billion Barrels), 2004-2013
Figure 66: Moroccan Total Non-Hydro Renewable Electricity Net Generation (Billion Kilowatts), 2002-2011
Figure 67: Moroccan Roads, total network (km), 2003-2010
Figure 68: Moroccan Rail lines (total route-km), 2002-2011
Figure 69: Moroccan Overall construction (US$ Million), 2007-2016
Figure 70: Moroccan Mining, Manufacturing, Utilities Output (US$ Billion), 2002-2011
Figure 71: Moroccan Patents Granted, 2003-2012
Figure 72: Moroccan Telephone Lines (In Million), 2003-2012
Figure 73: Moroccan Telephone Lines Penetration Rate (Per 100 People), 2003-2012

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