The Japanese defense budget is the fifth-largest in the world. Tokyo is rated among the top military spenders in Asia, along with China and India. Japan's defense spending recorded a CAGR of 10.04% in the years 2007-2011. Japan has capped its defense budget at 1% of GDP, and is expected to continue to do so over the forecast period.
The Indian defense market offers numerous market opportunities to both domestic and foreign manufacturers. As one of the largest defense equipment markets in the world, the country is expected to spend considerably on its military over the forecast period. Due to India’s ageing military systems, the country needs to modernize its equipment, which will lead to an increase in capital expenditure for procuring new defense equipment. The country is also forecast to spend a significant amount of money on homeland security, intelligence and cyber security
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