NEW YORK, LONDON, BERLIN, PARIS, July 12, 2012 /PRNewswire/ --
The Chinese defence market registered significant growth and is expected to retain this positive growth rate during the next 5 years period. The Chinese defence budget, which valued US$104.62 billion in 2012, is the largest defence budget in the Asia-Pacific region. Defence expenditure grew at a CAGR of 11.5%. Due to the rapid growth of the country's defence budget, the Chinese army is now capable of rivalling the leading military powers of Western European countries, claim industry analyst in a new report titled - The Chinese Defence Industry Market Opportunities and Entry Strategies, Analysis and Forecasts to 2017.
China is expected to spend US$722.4 billion in the fulfilment of its defence requirements. Factors such as Sino-US relations, asymmetric warfare and the threat from Taiwan to its territorial integrity are expected to stimulate defence expenditure. China's emphasis on the import of technology rather than in the import of finished equipment will continue to lead the development of domestic defence firms.
Chinese defence expenditure, estimated at US$104.62 billion during 2012, grew at a CAGR of 11.5% during the review period. It is expected to record a CAGR of 8.49% and reach $174.9 billion by 2017. Over the next five years the country's defence expenditure is expected to be driven by factors such as Sino-US relations, asymmetric warfare and the threat from Taiwan to its territorial integrity.Aircraft and armored vehicles were the main categories in defence exports by China. In 2011, China exports defence products to 36 countries with a total value of US$1.35 billion.
The Chinese Defence Industry report provides detailed analysis of the current industry size and growth expectations from 2013 to 2017, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas of defence market.
Other Global Defence Industry Research Reports:
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