Market Analysis: Asia's Armoured Vehicle Sector Buoyant
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There is an arms race taking place in Asia. China’s defence budget has increased eightfold in the last 20 years and now many other countries in the region are looking to catch up. Both Vietnam and Cambodia have more than doubled their military spend over the last decade and other regional powers, including Japan, Philippines and Malaysia are following suit.
According to SIPRI data, the top five arms importers in the world are all based in Asia – India, China, Pakistan, South Kore...
