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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