LONDON, Oct. 26 (UPI) -- A Frost & Sullivan report suggests Brazil, Russia, India and China will become world economic leaders with great potential for defense companies.
The Frost & Sullivan industry analysis firm has released a report suggesting there are major growth opportunities for defense companies in Brazil, Russia, India and China, countries referred to as BRIC.
The report, titled "An Executive Analysis of the Defense Budget and Procurement in the BRIC Countries," suggests the BRIC countries are collectively expected to contribute 13 percent of the global defense expenditure following successful economic recoveries.
"With massive numbers of troops to maintain, defense budget allocations are naturally high and expected to escalate faster than in the rest of the world," Frost & Sullivan Research Analyst Harish Balasubramanian said in a statement.
"Modernization and troop upgrades alone will involve mammoth budgets, making these four countries growth hot spots for defense industries."
