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Asia Now Leads The World In Military Spending

February 6, 2014

Typhoon

On Tuesday, February 4, IHS Jane’s revealed that defense spending among Asian countries is on the rise. While the United States maintains the largest annual defense budget, the most dramatic increases are in Asia.

IHS Jane’s, a leading research and analytics firm, believes this trend will cause the Asia-Pacific to overtake the EU’s defense spending by next year. After all, the main NATO allies–except Turkey–are in the process of trimming their military budgets.

Though IHS Jane’s mentioned how current figures are connected with economic growth, it did single out China, IndiaRussia, and Saudi Arabia as countries that are investing heavily on their militaries.

Or, in other words, rearming.

In the case of Saudi Arabia, together with its southern neighbor Oman, it appears the kingdom is anticipating a regional war with Iran.

Take note that based on the list below, nine of the countries are in Asia. Five of them are in the Top 10.

Top Twenty (20)  Ranking

Defence Budget Ranking 2013

RANK/COUNTRY $ (MILLIONS)
1. United States 582,424
2. China 139,203
3. Russian Federation 68,887
4. United Kingdom 58,854
5. Japan 56,842
6. France 53,091
7. India 46,183
8. Germany 44,688
9. Saudi Arabia 42,858
10. South Korea 31,561
11. Brazil 29,556
12. Australia 29,444
13. Italy 27.790
14. Turkey 20,618
15. Canada 19,636
16. Taiwan 14,834
17. Spain 13,199
18. Colombia 13,190
19. Israel 13,097
20. Algeria 10,778


Source: IHS Jane’s Aerospace, Defence & Security

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