3.1.3. Defense budget as a percentage of GDP expected to average 0.3 % over the forecast period 3.2. Analysis of Defense Budget Allocation 3.2.1. Allocation for capital expenditure expected to average at 34.4 % over the forecast period 3.2.2. Capital expenditure budget expected to grow at 14.71 % over the forecast period 3.2.3. Allocation for the army accounts for the majority of the defense budget 3.2.4. Army expenditure to grow at a CAGR 3.65 % over the forecast period 3.2.5. Naval expenditure to grow at a CAGR of 3.68 % over the forecast period 3.2.6. Expenditure on the air force to increase during the forecast period 3.2.7. 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 during the forecast period
3.3.2. The threat from Boko Haram, drug trafficking, cybercrime, and money laundering to drive the homeland security market
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3.3.3. Nigeria falls under the ' worst affected category ' by terrorist attack 3.3.4. Nigeria faces high level of threat from foreign as well as domestic terrorist organizations 3.3.5. Nigeria has a terrorism Index Score of 9.2 3.4. Benchmarking with Key Global Markets 3.4.1. The country ' s defense budget is expected to increase during the forecast period
3.4.2. Nigerian military expenditure is limited compared to countries with the largest defense expenditure
3.4.3. The country allocates a lower percentage of GDP to defense 3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Fighters and Multi-role Aircraft
3.5.2. Infantry Fighting Vehicles( IFV) 3.5.3. Attack Helicopters
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