Friday, September 03, 2010
Latest Procurement News
RELATED NEWS
- Microsoft adopts cloud-based SRM
02 Sep 10 - Nestlé optimises coffee supply chain
31 Aug 10 - MIQ Logistics names new chairman and CEO
27 Aug 10 - Singapore crowned world's largest container port
26 Aug 10 - Halfords suffers supply chain delays
26 Aug 10 - Supply chain overhaul key to GM IPO
23 Aug 10
RELATED ARTICLES
- Profile: Siemens CPO, Barbara Kux
- In Focus: Top companies turn spotlight on effective supply chain operations
- In Focus: Bank of England sparks debate on supply chain finance
- Agility key to competitive supply chains
- ITV CPO on transforming procurement in a difficult market
- Economic view: Trade policies pose new challenges in an upturn
KNOWLEDGE MANAGEMENT TAGS
"Supply Chain Management"
'Enormous defence procurement growth' for BRIC nations
The rapidly developing economies of Brazil, Russia, India and China (BRIC) will reach their collective peak by 2050, overtaking current economic leaders to emerge as the world's richest nations, experts predict.
As the economies of these nations rebound, defence budgets and procurement will soar, offering enormous growth opportunities for diverse defence industries, according to Frost & Sullivan.
The research firm's Analysis of the Defence Budget and Procurement in the BRIC Countries finds that the BRIC countries accounted for 12.6 per cent of the total global defence expenditure in 2008. Considerable market potential exists primarily because of the priority placed on force modernisation and because of the persistent threat of terrorist activities.
Frost & Sullivan notes that BRIC countries account for a combined expenditure of nearly 13.0 per cent to the global defence expenditure, with the United States contributing more than 40 per cent and the Europe with approximately 25 per cent. This makes BRIC the second largest contributor in terms of defence budget allocations. With the economies of the four countries growing at a much faster pace, these countries hold "huge market potential for defence equipments", especially Brazil and India.
"With massive numbers of troops to maintain, defence budget allocations are naturally high and expected to escalate faster than in the rest of the world," said Frost & Sullivan research analyst Harish Balasubramanian.
"Modernisation and troop upgrades alone will involve mammoth budgets, making these four countries growth hot spots for defence industries."
Procurement Tags - Brazil, China, India, Russia, Supply Chain Management
= Associate Members Only 
