Global Defense Spending to Grow After Years of Decline
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Defense spending globally will increase this year for the first time since 2009 military budgets surge in Russia, Asia and the Middle East, according to an annual defense budget review by IHS Jane’s.
Four of the five fastest-growing defense markets last year were in the Middle East, the study found, according to a statement by the company. The defense budgets of Russia and China combined will exceed total defense spending of the European Union by 2015.