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Author: Asif Anwar
Publication Date: Aug 14 2014
Pages: 5
Report Type: Insight, Word
Defense

Opposing Trends in North America and Asia-Pac will Dictate Defense Spending Outlook



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Report Summary:

While budgetary challenges remain at the forefront of global spending on defense, regional geopolitical factors will translate to overall spending increasing to over $2.1 trillion by 2023 with opposing trends in North America and Asia-Pac dictating the global outlook for defense spending. North America will continue to be led by spending in the US with sequestration continuing to dictate budgetary strategy though supplementary spending is expected to smooth out the impact. Events in Ukraine will provide the impetus behind European defense spending while China will both underpin and spur spending in the Asia-Pacific region. Both the CALA and MEA regions will also see growth, collectively accounting for 16% of global defense spending in 2023.

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