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An Executive Analysis of the Defense Budget and Procurement in BRIC Countries
Frost & Sullivan, June 2009, Pages: 99
BRIC (Brazil, Russia, India and China) refers to the fast growing developing economies of Brazil, Russia, India, and China. The concept came into existence by 2001 with a combined target of achieving excellence by 2050. With the rapid development in the economies of these four countries it is estimated that the combined economies of these four countries could conceal the combined economies of the richest countries of the world at present, by 2050.
Research Overview
This Frost & Sullivan research service titled An Executive Analysis of the Defense Budget and Procurement in BRIC Countries provides an in-depth examination of the defence markets in Brazil, Russia, India and China (BRIC). IT offers a detailed look at threat perceptions, PEST analysis, defense offsets and defense budgets in these four countries. In addition to a discussion on participants in the domestic defense industries of these countries, the research examines modernization programs in the BRIC countries.
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Market Overview
Rising Economies of Brazil, Russia, India and China to be Paralleled by Soaring Defence Budgets and Procurement
Brazil, Russia, India and China (BRIC) refers to the fast developing economies of Brazil, Russia, India and China. These countries are projected to reach their collective peak by 2050. With the rapid development in the economies of these four countries, it is estimated that they will, as a group, overtake the current economic leaders to emerge as the richest nations by 2050.
BRIC countries accounted for 12.6 per cent of the total global defense expenditure in 2008. Considerable market potential is on offer due to the priority being placed on force modernisation as well as the intensifying threat of terrorist activities.
All four countries have nuclear capabilities and are active in the area of space research. Moreover, the combined number of active and reserve troops in the BRIC countries matches the total number of troops in the other parts of the world. 'With a massive troop to be maintained, the defense budget allocation is naturally high and is expected to escalate at an accelerated pace when compared to the rest of the world,' notes the analyst of this research. 'Modernization and upgrades of existing troops itself would involve a mammoth budget, which makes these four countries growth hot spots for defense industries.'
BRIC countries account for a combined expenditure of nearly 13.0 per cent to the global defense expenditure, with the United States contributing more than 40 per cent individually. This makes BRIC the second largest contributor in terms of military expenditure.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following countries in this research:
- Brazil
- Russia
- India
- China
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