DUBLIN, Ireland, July 16 (UPI) -- Irish company Research and Markets announced Friday a new report on the global military industry, including that of China.
"The year 2009 witnessed the large increase of global military expenditure," the company said in a news release. "Military expenditure in the USA, China, Russia, and India saw a year-on-year rise of 7 percent, 14.9 percent, 27 percent and 24 percent respectively.
"The robust growth of military expenditure worldwide will fuel the demand of the global military market."
"Global and China Military Industry Report, 2009-2010" shows the relatively fast growth of China's military expenditure in recent years has been the main driver for the development of Chinese military enterprises. "The domestic key military industrial groups, including Aviation Industry Corp. of China, China North Industries Group Corp., China Shipbuilding Industry Corp. … are accelerating the further reorganization in property rights and structure, based on the traditional transfer of military-to-civil business," the company said.
