Asia to Spend Over $108b for Maritime Security

Tuesday, May 15, 2007
According to CNA, Asian countries are expected to spend about $108b beefing up their navies over the next ten years, placing the region ahead of the United States and Britain. But industry watchers at the 6th International Maritime Defence Exhibition and Conference (IMDEX Asia 2007) said rather than leading to an arms race, the increase in spending will be an overall boost to regional maritime security.

Naval industries are set to benefit from the buying spree. Analysts at IMDEX Asia agreed the naval build-up would do much for regional maritime security. Frigates, like the ones recently purchased by the Singapore Navy, account for a quarter of the purchases, and will help Asian countries plug the existing gap in capability shortfalls. Analysts said even with countries like China, India and Japan leading the buying spree, a regional arms race is unlikely. Source: CNA

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Young Taken on PESA Advisory Board

Hoover Container Solutions’ chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association (PESA) Advisory Board for a three-year term.

US Navy Tests Latest Aegis Weapon System

The U.S. Navy conducted a series of cooperative air defense test exercises with the Spanish navy that culminated in live missile firing events using the latest Aegis Weapon System baseline July 20-21.

Antwerp Port CEO Scoops Baron Title

After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium

Maritime Security

Hyundai Bags NZ Defence Order

Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, has won an order to build a 23,000 ton class logistics support vessel for New Zealand Defence

N.Korea Builds New Submarine Base

North Korea is in the midst of building a new naval base on the east coast to accommodate submarines capable of firing submarine-launched ballistic missiles (SLBMs), says IHS Jane's Defence Weekly.

Jakarta to Boost Security of Small Vessels

Jakarta will boost security of small vessels after hijackings 15 July, says a report in Protection Vessels International Ltd (PVI).   Indonesia is currently

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0902 sec (11 req/sec)