Boston, MA -- (ReleaseWire) -- 06/09/2014 -- BMI View: Egypt's strategic position is extremely tense following the ousting of President Mohamed Morsi's Muslim Brotherhood-led government during a coup d'etat supported by the country's armed forces in July 2013. However, the coup has caused the United States to place some military aid on hold for the time being as of the time of writing ( May 2014 ) .
In terms of defence expenditure, BMI believes that Egypt will spend up to USD5.4bn on defence in 2014. For the remainder of the forecast period; up to and including 2018, we expect Egypt to spend an average of USD7.4bn on defence annually, as the defence budget will experience significant increases. The final year of the forecast period will see Egypt spending up to USD8.9bn on defence.
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Egypt is a net importer of military equipment and services. Although the country has developed some small-scale defence manufacturing capability it remains wholly dependent on imports for the supply of complex platforms and subsystems. Following Egypt's independence, the country imported significant quantities of materiel from the Soviet Union. This relationship was maintained until the late-1970s when a permanent peace was negotiated under the auspices of the United States between Israel and Egypt. The consequence of this agreement was that it enabled Egypt to secure imports of advanced US defence systems; a trend which has continued ever since.
BMI has given Egypt an overall security risk rating of 59 for Q314. The country scores an average overall security risk rating of 55 for the forecast period December 2007 until Q314. Egypt is considered to have a moderate risk of involvement in a major interstate conflict. Similarly, the country is considered to have a moderate risk of experiencing major terrorist action, while it has what we deem to be a serious risk of suffering from major criminal activities.
In late March 2014, Egypt's Chief of the General Staff and defence minister, Field Marshal Abdel Fattah al-Sisi resigned as...
The Egypt Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's Egypt Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Egyptian defence and security industry.
- Benchmark BMI's independent defence and security industry forecasts on Egypt to test other views - a key input for successful budgetary and strategic business planning in the Egyptian defence and security market.
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