Arms trade

Africa: The Next Defense Market Opportunity?

Low value. Corrupt. Aid-driven. Despite the odd exception like Algeria, and South Africa’s indigenous defense industry, most people think of these terms when they think of the African defense market. Analyst firm Forecast International sees a different picture, however: “tomorrow’s growth market for the global defense industry.”

This assessment didn’t come from reading Nigerian email solicitations. F.I. admits that overall African spending isn’t expected to suddenly become impressive: 3.5% increases year-on-year from 2007-2011 to $15.9 billion, with under 20% of defense budgets slated for procurement.