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13 Jun 12. Research and Markets announced the addition of iCD Research’s new report “The Chinese Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017” to their offering. The Chinese defense market registered significant growth during the review period and is expected to retain this positive growth rate during the forecast period. The Chinese defense budget, which valued US$104.62bn in 2012, is the largest defense budget in the Asia-Pacific region. Defense expenditure grew at a CAGR of 11.5% during the review period. Due to the rapid growth of the country’s defense budget, the Chinese army is now capable of rivaling the leading military powers of Western European countries. What are the key drivers behind recent market changes? China is expected to spend US$722.4 billion in the fulfillment of its defense requirements. Factors such as Sino-US relations, asymmetric warfare and the threat from Taiwan to its territorial integrity are expected to stimulate defense expenditure during the forecast period. China’s emphasis on the import of technology rather than in the import of finished equipment will continue to lead the development of domestic defense firms. (Source: Yahoo!/BUSINESS WIRE)
13 Jun 12. Research and Markets announced the addition of iCD Research’s new report “The Russian Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017” to their offering. Russian defense expenditure was primarily driven by factors such as the level of global demand for its defense systems, its focus on homeland security and its ongoing military reform program. Russia is expected to spend US$277bn on the acquisition of weapons systems during the forecast period. Ongoing modernization of armed forces is forecast to affect growth of its defense market over the forecast period. (Source: Yahoo!/BUSINESS WIRE)
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