Defense Market Updates for Superpower Nations: China
FARMINGTON, Conn., March 19, 2013 /PRNewswire-iReach/ -- A fast growing economy combined with the objective of becoming a superpower nation, fuelled China's defense expenditure during the review period through 2013. Border and territory disputes, as well as military modernization are expected to drive the country's future military spending, which is anticipated to grow at a CAGR of 11.89% over the forecast period. China's philosophy, "Prosperous nation, strong military", drives its efforts in building a large military force to rival the best armies in the world, which in turn drives the country's defense budget.
Driven by the objective of being a superpower nation, the Chinese defense budget grew at a CAGR of 13.21% over the review period, to $115.6 billion in 2013. A rapid growth in the economy supported the country's defense expenditure during the review period, making Chinese defense expenditure the highest in the Asia-Pacific region, over countries such as Japan and India. However, the pace of China's defense spending growth is expected to reduce slightly due to the sluggish global economy and slowdown in the country's growth. The country's defense spending is expected to grow at a CAGR of 11.89% over the forecast period (2013-18), against the 13.21% it recorded during the review period. A focus on military modernization and building technical capability to defend its territories will drive the Chinese defense budget over the forecast period and the country will continue to be the second largest military spender after the US.
China's restricted access to foreign defense technology due to an arms embargo imposed by the US and European countries propelled the country to build a self-reliant defense industrial complex. The country is adapting non-defense technology with relative use in the military for its defense industrial complex, which will integrate China's civil and military industries. These reforms have revived the once ailing Chinese defense industry, and the country is now capable of manufacturing fighters, missiles, aircraft carriers, diesel electric submarine, and other defense equipment.
"Future of the Chinese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018" is the result of Strategic Defence Intelligence's extensive market and company research covering the Chinese defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
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According to a second report, "The Chinese Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017" by ICD Research, China is expected to spend $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.
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By 2014, China's homeland security & public safety market will replace the U.S. as the world's leading national HLS & Public Safety market. In the report, "China Homeland Security & Public Safety Market - 2012-2020", both the Homeland Security as well as the Public Safety markets are included since, in many cases, products have HLS and Public Safety dual-use applications and present the same business opportunities. For example: A. The Bio terror mitigation infrastructure is also used to contain pandemic disease outbreaks. B. First responders' command, control and communication systems are used to respond to both manmade disasters such as terror events, and natural disasters such as floods and earthquakes (public safety).
Learn more and request free sample pages from the full report at http://www.giiresearch.com/report/hom250497-china-homeland-security-public-safety-market.html
May 30 – 31, 2013 | Shanghai, China
In 2011, Chinese airports completed a passenger throughput of 620.537 million person-times, and a cargo & mail throughput of 11.578 million tons, up 10.0% and 2.57% year-on-year respectively. The four airports in Beijing, Shanghai and Guangzhou accounted for 32.0% of the total throughput of Chinese airports. In particular, Beijing Capital International Airport ranked No.1 in Asia and No.2 in the world with a passenger throughput of 79 million person-times; Guangzhou Baiyun International Airport ranked No.2 in China with a passenger throughput of 45 million person-times.
China Airport Development Summit 2013 will provide a unique platform where over 260 executives and professionals will convene to discuss the strategies in the latest developments and innovative approaches in China airport industry.
For more information and to register, please visit http://www.giiconference.com/cdmc261252-2013/
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