Asia-Pacific to outspend United States and Canada in weapons by 2021
Jakarta (AsiaNews/Agencies) - Defence budgets in the Asia-Pacific region will overtake those of the United States and Canada by 2021, this according to a study by respected IHS Jane's analysts, published on Tuesday. Military spending in the region will rise 35 per cent to US$ 501 billion in the next eight years.
In spite of the world's economic crisis that over the past five years, defence industries have not suffered. The global arms trade bucked the economic downturn to jump 30 per cent between 2008 and 2012, from US$ 56.5 billion to us$ 73.5 billion, with China playing a greater role as an exporter and India as an importer.
Whilst Washington remained the world's biggest exporter of weapons with US$ 28.5 billion, up from US$ 20.1 billion in 2008, by 2021, US defence spending will account for 30 per cent, behind Asia's 31 per cent, experts say.
'Peace-loving' India was the world's biggest importer of arms in 2012, showing a giant leap of 70 per cent since 2008, from .1 billion to .3 billion.
China, India and Indonesia will drive this growth, fuelling tensions in areas like the South and East China Sea caused by unresolved conflicts with Vietnam, Japan, the Philippines and Taiwan over seabed oil and natural gas, as well as control of the main sea routes.
Individually, China is set to increase defence spending by 64 per cent by 2021 to US$ 207 billion. India and Indonesia are respectively forecast to spend 54 and 113 per cent more, the study said.
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.
Indeed, Jerusalem is the most effective exporter in the world, despite the fact that many Islamic countries refuse to deal with the Jewish state. Its market share just keeps growing.
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12/02/2016 15:14
04/10/2023 18:52
