Global threats will boost spending on defense
The global defence and aerospace industry are likely to rebound after being in the "doldrums" for some time. The accounting firm Deloitte claims the growth in global threats will cause increased defense spending.
|The United States still spends by far the most on defense of any country. A chart based on figures from last November show that the U.S. spends over $609 billion yearly on defense. The next highest spending was a mere $216.4 billion by China. In third place was Russia with $84.5 billion. Saudi Arabia, which buys many weapons from the US ,and has a large contract with Canada as well, comes in fourth at 80.8 billion, not far behind Russia. Even the smaller United Arab Emirates spends $22.8 billion enriching many western arms producers. Canada spends $17.5 billion and Israel $15.9 billion.|