Key Market Indicators
Saudi Arabia's weapon imports are projected to reach approximately $2.4 billion by 2028, up from around $2.3 billion in 2023, reflecting a modest annual growth rate of 0.9%. This comes despite a long-term decline in demand, which has fallen by 7.2% annually since 1965. In the global rankings for 2023, Saudi Arabia holds the third spot, overtaken by Qatar, whose imports also stand at about $2.3 billion. Following behind are Kuwait and other regional players. On the export front, Saudi Arabia witnessed a significant jump in 2016, with weapon exports totaling $5 million, up from $3 million in 2015—a sharp increase of 66.7% over the previous year. However, this rise contrasts with a broader downward trend, as Saudi weapon supplies have decreased by 39.6% annually since 1972.
