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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