Saudi Arabia Topples India As Biggest Defense Importer For 2014

  • Our Bureau
  • 01:06 PM, March 9, 2015
  • 2633
Saudi Arabia has overtaken India to become the world's biggest weapons importer in 2014, research company IHS said on Sunday. Saudi imports rose by 54 per cent between 2013 and 2014, and based on planned deliveries imports will grow 52 per cent to $9.8 billion in 2015, IHS said, without stating the 2014 sales. According to the Report, Saudi Arabia spent over $6.4 billion on defense purchases in 2014. Indias spending stood at $5.57 billion. China has now become the third largest importer, up from fifth place last year. “China continues to require military aerospace assistance from Russia and its total defense procurement budget will continue to rise very quickly,” said Paul Burton, IHS director of defense industry and budgets. The growth in Saudi supplies was due to expanding demand from emerging economies for military aircraft and rising tensions in the Middle East and Asia Pacific, IHS reported. Saudi Arabia and UAE together imported US$8.6 billion in defense systems in 2014, more than the imports of Western Europe combined. The biggest beneficiary of the strong Middle Eastern market remains the US, with $8.4 billion worth of Middle Eastern exports in 2014. The second tiers of exporters to the Middle East are the United Kingdom with $1.9 billion, the Russian Federation with $1.5 billion, and France with $1.3 billion and Germany with $1 billion. “The Middle East is the biggest regional market and there are $110 billion in opportunities in coming decade.”he added. Though Saudi Arabia does not officially release military expenditure figures, the Stockholm International Peace Research Institute had last year claimed that Riyadh had spent $67 billion in 2013 including current and on-going procurement programs.
Also Read

Saudi Arabia to Gift Russian Arms to Lebanon

October 1, 2014 @ 09:41 AM

Thales To Provide Navaids, ATC To Saudi Arabia

September 30, 2014 @ 10:00 AM

Lockheed Martin, AEC To Establish Sniper ATP Facility In Saudi Arabia

September 17, 2014 @ 09:00 AM

Saudi Arabia To Buy Chinese Pterodactyl I Drones

May 6, 2014 @ 12:57 PM

Saudi Arabia Orders Four Airbus C295W Transport Aircraft

June 19, 2015 @ 08:17 AM

Saudi Shoots Down Yemeni Scud Missile

June 8, 2015 @ 10:13 AM

Saudi Arabia To Rank Fifth In Defense Spending

May 30, 2015 @ 10:21 AM

Saudi Arabia To Buy $1.9 Billion 10 Sikorsky MH60R Choppers, Precision Weapons

May 22, 2015 @ 08:56 AM

India To Set Up 32 Coastal Radar Surveillance System In Seychelles, Mauritius...

March 10, 2015 @ 11:14 AM