Friday, June 2, 2023
  • About us
    • Write for us
    • Disclaimer
    • Terms of use
    • Privacy Policy
  • RSS Feeds
  • Advertise with us
  • Contact us
DefenceTalk
  • Home
  • Defense News
    • Defense & Geopolitics News
    • War Conflicts News
    • Army News
    • Air Force News
    • Navy News
    • Missiles Systems News
    • Nuclear Weapons
    • Defense Technology
    • Cybersecurity News
  • Military Photos
  • Defense Forum
  • Military Videos
  • Military Weapon Systems
    • Weapon Systems
    • Reports
No Result
View All Result
  • Home
  • Defense News
    • Defense & Geopolitics News
    • War Conflicts News
    • Army News
    • Air Force News
    • Navy News
    • Missiles Systems News
    • Nuclear Weapons
    • Defense Technology
    • Cybersecurity News
  • Military Photos
  • Defense Forum
  • Military Videos
  • Military Weapon Systems
    • Weapon Systems
    • Reports
No Result
View All Result
DefenceTalk
No Result
View All Result

Asia Pacific defence budgets to outstrip North America by 2021

by Agence France-Presse
June 27, 2013
in Defense Geopolitics News
2 min read
0
China marks 60 years with show of military power
14
VIEWS

Defence budgets in the Asia Pacific region will overtake the United States and Canada by 2021, according to a study by respected analysts IHS Jane’s published on Tuesday.

Weapons spending in China and other Asia Pacific countries is expected to rise 35 percent above its 2013 level to $501 billion (383 billion euros) by 2021, outstripping North America, the “Balance of Trade” study concluded.

Overall, global arms trade — composed of arms imports and exports — bucked the economic downturn to increase 30 percent between 2008 and 2012, from $56.5 billion to $73.5 billion.

“At this rate, defence trade between countries will have more than doubled by 2020,” the study says.

The United States remained the world’s biggest exporter of weapons in 2012 with $28.5 billion, up from $20.1 billion four years earlier.

India meanwhile was the world’s biggest importer of arms in 2012, showing a giant leap of 70 percent since 2008, from $3.1 billion to $5.3 billion.

But while spending in Asia rose, it fell back in Western Europe where exports were sharply down — its 34.5-percent share of the export market in 2008 fell to 27.5 percent in 2012.

“Two things are happening: budgets are shifting east and global arms trade is increasing competition,” said Paul Burton, senior manager of IHS Jane’s DS forecast.

“This is the biggest explosion in trade the world has ever seen.”

China is reducing the amount of arms it imports as it improves its own production capabilities.

But while China’s exports have doubled since 2008, it is being outpaced by South Korea which leaped 688 percent, putting it into the global top 20 with $753 million.

While China’s sales are predominantly to its regional neighbours, South Korea is increasingly succeeding in open, or competitive, markets.

“In terms of the quality of production, it is a mixed picture,” Ben Moores, senior forecasting analyst at IHS Jane’s, told AFP.

“China do fairly well in exporting to their regional neighbours, but in open markets like the Middle East they are just not in the market.

“But it is a very different story for South Korea, which is exporting a range of equipment and selling to countries such as Indonesia and the Philippines, which are both very open.”

The study also predicts that Israel will sell twice as many drones as the United States in 2014 and will become the biggest exporter of the unmanned aircraft by the end of this year.

Israel was ranked sixth in the global league of arms exporters last year, with sales of $2.41 billion, a 74-percent rise on the $1.38 billion it sold in 2008. It traded predominantly with India.

“Israel is easily the most effective exporter in the world, despite the fact that many Islamic countries refuse to deal with them,” Moores said. “It just keeps growing its market share.”

Tags: armsAsiaaustraliabudgetchinadefencedefense budgetpacifictrade
Previous Post

US Army outlines plans to cut brigades

Next Post

China, South Korea agree to push North Korea denuclearization

Related Posts

china third aircraft carrier PLAN

China sends warships and aircraft around Taiwan for second day

April 8, 2023

China sent warships and aircraft near Taiwan for a second day on Friday and insisted the island remains "an inseparable...

Japan defence ministry seeks $50 billion budget

Japan changes rules to allow aid to foreign militaries

April 6, 2023

Japan will begin offering aid to the militaries of "like-minded countries" under new rules announced Wednesday, as Tokyo builds a...

Next Post
Chinese troops threaten Indians in disputed area

China, South Korea agree to push North Korea denuclearization

Latest Defense News

China made third-largest air incursion this year, says Taiwan

China would gain swift air superiority over Taiwan, US leaks show

April 19, 2023
china third aircraft carrier PLAN

China sends warships and aircraft around Taiwan for second day

April 8, 2023
Japan defence ministry seeks $50 billion budget

Japan changes rules to allow aid to foreign militaries

April 6, 2023
Trump order targets Chinese internet giants TikTok, WeChat

TikTok hit with UK fine, Australia government ban

April 6, 2023
Finland gears up for historic NATO decision

Long NATO delay spells trouble for Sweden and alliance: experts

April 6, 2023
Russia says fired anti-ship missiles at mock target in Sea of Japan

Russia says fired anti-ship missiles at mock target in Sea of Japan

March 28, 2023

Defense Forum Discussions

  • The Russian-Ukrainian War Thread
  • Turkish Air Force - Türk Hava Kuvvetleri
  • Turkey - Geopolitical & Geostrategic.
  • Australian Army Discussions and Updates
  • Royal Australian Navy Discussions and Updates 2.0
  • AI
  • New Zealand Army
  • Russia and the West
  • Israeli Army News & Discussion
  • Ukrainian - Russian War Memes.
DefenceTalk

© 2003-2020 DefenceTalk.com

Navigate Site

  • Defence Forum
  • Military Photos
  • RSS Feeds
  • About us
  • Advertise with us
  • Contact us

Follow Us

No Result
View All Result
  • Home
  • Defense News
    • Defense & Geopolitics News
    • War Conflicts News
    • Army News
    • Air Force News
    • Navy News
    • Missiles Systems News
    • Nuclear Weapons
    • Defense Technology
    • Cybersecurity News
  • Military Photos
  • Defense Forum
  • Military Videos
  • Military Weapon Systems
    • Weapon Systems
    • Reports

© 2003-2020 DefenceTalk.com