DUBAI (PTI): Defence spending is on the rise in several countries around the world, especially in the Middle East, India, China, Russia, South Korea, Brazil and Japan, according to a prominent consulting firm.
However, global defence spending is declining in general, resulting mainly from reduced armed conflict in Iraq and Afghanistan and affordability concerns in many traditionally active military governments, the new Deloitte forecast '2014 Global Aerospace and Defence Outlook' said.
Many of the countries with increased spending have produced the incremental wealth necessary to equip their militaries with modern defence platforms and technologies.
Some of these countries have threats on their borders or in their geographies, all of which is contributing to an increased defence spending, the report said.
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