Three Chinese companies; Aviation Industry Corporation of China (AVIC), China North Industries Group (NORINCO) and China Aerospace Science and Industry Corporation (CASIC) with combined revenue of $51.8 Billion have risen to the worlds top 10 Defence companies list compiled by US based publication, Defense News
To encourage and speedup modernization in the defense sector, India has exempted customs duty on defense and military hardware imported from other countries. “Defense has an immediate requirement of modernization and upgradation
In an attempt to bypass US sanctions on Russian entities mainly in defence and energy, Moscow has concluded an agreement with Beijing on switching to settlements in national currencies. A mechanism for mutual settlements is planned to be set up by 2020
Hindustan Aeronautics Limited (HAL) has manufactured 41 new aircraft, helicopters besides 98 new engines during fiscal 2018-19, according to a financial update issued by the company. In addition, HAL has carried out overhaul of 213 aircraft, helicopters and 540 engines
Defence exports from Turkey exceeded $2 billion for the first time in 2018, an increase of 17% over the previous year. According to Turkish Exporters Assembly (TİM) data, the exports carried out by the defense and aerospace industry soared by 24
Member-companies of Russias Rostec State Corporation signed agreements worth over 100 billion rubles ($1.5 billion) as part of the International Military-Technical Forum "Army-2018" held in Moscow last week
The United States government is planning a new financing option to enable its allies and partners buy American weapons as part of the Trump administrations goal of enabling defense contractors grow their sales. The US administration had liberalized the sale of unmanned aerial systems in April this year and plans further initiatives to counter competition from China, Israel and Russia among others, participants at a Center for Strategic and International Studies (CSIS) event in Washington on Wednesday said
The 28-member European Union spent €200 billion ($222 billion) on defence in 2016, the same figure as in 2015, Eurostat announced Friday. The EU, most of whose members share NATO membership with the United States are under pressure from Washington to increase military spending and buy more American arms
China has become the world's second biggest military spender behind the United States relegating Saudi Arabia and India to third and fourth place respectively according to a new report by the Swedish International Peace Research Institute (SIPRI) which compiles global arms procurement data. China increased its military spending by 5
French President Emmanuel Macron has pledged to increase the defence spending by 1.8 billion euros ($2
South Korean companies recorded a 20.6% increase in arms sales during 2016 compared to a year ago leading a pack of the Stockholm International Peace Research Institute (SIPRI)s ‘emerging producers category which covers companies based in Brazil, India, South Korea and Turkey
The aerospace and defense technology company Calidus, based in Abu Dhabi, UAE, has selected IFS Applications as its core solution to manage key company operations and manufacturing projects. The IFS solution includes Finance, HR, Supply Chain, Project and Document Management modules to support the development of all major Calidus projects, including the manufacturing of the new B-250 light attack aircraft which is currently being unveiled at the Dubai Airshow, November 12th-16th, the Swedish firm IFS announced in a press release Tuesday
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