- Brazil has continued putting aside a generally relentless rate (1.5-1.6%) of GDP for defence expenditures.
- Brazil is to incorporate 50 Eurocopter Cougar (EC-725) medium-lift helicopters, unmanned airborne vehicles, hostile to tank weaponry and another group of defensively covered vehicles from IVECO.
Ken research announced its recent publication on “BRICS Nations Defense Spends on Military Vehicles: 2016 to 2024,” which offers insights on the quantitative upper-level view of projected spends on on Military Vehicles and vast knowledge on the house of Strategic Defence Intelligence which outlays BRICS Nations’ projected budget allocations on Military Vehicles. The publication incorporates the strategic outlay on individual segments which include Armored Personal Carriers (APCs), Armored Vehicle MRO, Infantry Fighting Vehicles (IFVs), Light Multi-role Vehicles (LMVs), Mine Resistant Armored Protected Vehicles (MRAPs) and Tactical Trucks. The data involved in this report draws upon Strategic Defense Intelligence’s in-depth, primary research and proprietary databases to provide you with robust, segment specific data. Countries which are analysed in this report are Brazil, Russia, India, China and South Africa. Moreover, the current market size and budget allocation data is considered to understand and analyse the current landscape and forecasts to discover the future direction of the Military Vehicles market in BRICS Nations.
Brazil, Russia, India, China, and South Africa are indistinguishable in that, wherever they are on their financial route as “emerging” markets and “developing” powers with a “reinforcing” worldwide voice, they are experiencing changes inside their military and looking for a confident part on the world’s military scene. Every one of them has seen their innovation being redesigned and defense expenditures rising over the previous years.
Brazil has continued putting aside a generally relentless rate (1.5-1.6%) of GDP for defence expenditures over the previous decade. Financial development, hampered as it may be by the 2009 emergency, proceeds over 2% for that period as indicated by World Bank gauges – which implies military consumption is likewise developing.
Since 2005 the Brazilian defence budget plan has developed by 5 percent for each year and the government affirmed another national defence policy in 2008 that put aside $70 billion for reequipping the armed force. New things are to incorporate 50 Eurocopter Cougar (EC-725) medium-lift helicopters, unmanned airborne vehicles, hostile to tank weaponry and another group of defensively covered vehicles from IVECO.
Russia shows an alternate case than Brazil in that unlike the monetarily ascendant South American country it is accustomed to being viewed as a worldwide power and hopes to be characterized all things considered. While Brazil’s military modernization exertion comes as the nation acceptance for acknowledgment among the worldwide elite, Russia expects to hold and enhance those defence capabilities that once empowered it to be viewed as a first-level military power close by the U.S. It is speculated that about 10 percent of the Russian military hardware fulfils modern standards. The novice defence plan aims to reform the situation by tripling the proportion of new-generation equipment to 30 percent in 2015, also the need to recruit high talented officers and soldiers for the new army again comes with a big price tag.
The BRICs have three things similar. Each is huge either in terms of size or in case of population, also each has an emerging economy and each of them is undergoing a military modernization effort aimed at preserving their strategic interests. During all this, Europe’s strongest nations are cutting defense spending and the U.S. defense budget is set to flat-line in the coming years, these four countries are seeking to assert themselves on the global stage and are willing and able to invest in improving the capabilities of their armed forces.
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Ankur Gupta, Head Marketing & Communications