S Korea Slashes Defense Budget by $733M to Fund COVID-19 Expenses

April 16, 2020 @ 01:24 PM

The South Korean Finance Ministry has announced plans to direct $733 million (904.7 billion won) from this years $40

Turkey’s Altay Tank, ATAK Helicopter Held up Due to Engine Non-availability

January 9, 2020 @ 09:45 AM

Turkeys major indigenous defence programs such as the Altay tank and the ATAK combat helicopter could face significant delays over denial of engine technology by European firms. While the Altay tank project is certain to miss a production deadline set for this year as the engine manufacturer, MTU of Germany has...

Three Chinese Companies Make it to 2018’s Top 10 Defence Manufacturers’ List

July 24, 2019 @ 10:31 AM

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

China, Russia Take First Steps Towards Dollar-less Trade

July 3, 2019 @ 11:37 AM

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

HAL Manufactures 41 Aircraft, Helicopters in Fiscal 2018-19

April 1, 2019 @ 02:04 PM

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

Turkish Defence Exports Cross $2 Billion in 2018

January 7, 2019 @ 12:42 PM

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

Russia’s Rostec Signs Agreements Worth $1.5 billion at Army 2018 Show

August 30, 2018 @ 01:07 PM

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

United States Plans Financing Option for Defence Equipment Sales

August 10, 2018 @ 08:44 AM

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

European Union Defence Spending at Euro 200 Billion in 2016

May 18, 2018 @ 01:29 PM

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 Becomes World's Second Biggest Military Spender: SIPRI

May 2, 2018 @ 12:34 PM

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

Israel Plans to Loosen Defence Export Restrictions

October 31, 2017 @ 11:47 AM

Israeli companies need not obtain a marketing license for certain cyber and electro-optic systems and tools, and security and anti-terrorism warfare education, according to changes in the defence export policy proposed by the countrys Ministry of Defence (MoD). The MoD will significantly shorten the list of products whose overseas marketing requires prior approval from the Defense Export Controls Agency (DECA)

Trump Orders Review of Defence Industry Raw Material Supply Chain

July 24, 2017 @ 03:55 PM

President Donald Trump signed an executive order Friday ordering an assessment of materials, manufacturing and components required for the defense industry, their sourcing and supply chains. Peter Navarro, director of the National Trade Council, said in a background briefing to reporters that there is a shortage of domestic companies that can manufacture and repair certain key components for defense purposes