Nigerian Defense Industry Is Anticipated To Reach US$2.1 billion by Nigerian Defense Industry 2021 | Page 5

3.5.4. Transport Aircrafts
4 Defense Procurement Market Dynamics 4.1. Import Market Dynamics 4.1.1. Limited capability of the domestic defense market drives imports 4.1.2. Defense imports expected to increase during the forecast period 4.1.3. China, the US, and Italy account for the majority of the country ' s defense imports 4.1.4. Aircraft and ships are the largest imported military hardware 4.2. Export Market Dynamics 4.2.1. Nigeria does not export arms due to its underdeveloped domestic arms industry
5 Industry Dynamics 5.1. Five Forces Analysis 5.1.1. Bargaining power of supplier: low to medium 5.1.2. Bargaining power of buyer: medium to high 5.1.3. Barrier to entry: medium 5.1.4. Intensity of rivalry: low 5.1.5. Threat of substitution: low
6 Market Entry Strategy 6.1. Market Regulation 6.1.1. Nigeria does not disclose any offset obligations imposed by the country 6.1.2. FDI in the defense sector prohibited by the Nigerian government 6.2. Market Entry Route 6.2.1. Direct selling is the preferred market entry route for foreign OEMs 6.3. Key Challenges
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