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China expands defence budget for next four years
CHINA is likely to see the largest increase in its defence budget in the next four years and Britain the biggest decrease, a defence information group said in its industry survey on Tuesday.
Reduced defence spending in Western Europe and the United States will encourage greater competition for contracts between defence firms, but also collaboration on some projects to cut costs and penetrate new markets, the survey also said.
'Expectations of static or falling spending in established defence markets has put an emphasis on emerging markets,' IHS Jane's defence information group said in its survey.
Some 80 per cent of the roughly 300 defence industry contacts surveyed expected China's defence budget to rise, with Jane's forecasting an increase of some 56 per cent by 2014.
About 44 per cent expected a fall in Britain's defence spending over the same period, and Jane's said it expected a decrease of about 17 per cent.
China's official 2010 defence budget is US$78 billion (S$106.3 billion) , although some analysts say the real figure is likely to be higher, and Britain's is US$56 billion.
India, South Korea, Brazil and Russia are also expected to spend more, while the governments of established Western defence markets are forecast to slash defence budgets to tackle budget deficits caused by the 2008 financial crisis. -- REUTERS
China expands defence budget
CHINA is likely to see the largest increase in its defence budget in the next four years and Britain the biggest decrease, a defence information group said in its industry survey on Tuesday.
Reduced defence spending in Western Europe and the United States will encourage greater competition for contracts between defence firms, but also collaboration on some projects to cut costs and penetrate new markets, the survey also said.
'Expectations of static or falling spending in established defence markets has put an emphasis on emerging markets,' IHS Jane's defence information group said in its survey.
Some 80 per cent of the roughly 300 defence industry contacts surveyed expected China's defence budget to rise, with Jane's forecasting an increase of some 56 per cent by 2014.
About 44 per cent expected a fall in Britain's defence spending over the same period, and Jane's said it expected a decrease of about 17 per cent.
China's official 2010 defence budget is US$78 billion (S$106.3 billion) , although some analysts say the real figure is likely to be higher, and Britain's is US$56 billion.
India, South Korea, Brazil and Russia are also expected to spend more, while the governments of established Western defence markets are forecast to slash defence budgets to tackle budget deficits caused by the 2008 financial crisis. -- REUTERS
China expands defence budget
