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Asian Naval Spending
Topic Started: Mar 12 2004, 09:17 PM (339 Views)
RBTiger
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BREMERTON, Wash. --- AMI International has identified the Asian sector as the dominator in new naval vessel expenditures for the next decade. Asian spending will exceed both Europe and the United States in their respective naval market expenditures by 2009.

Europe currently spends about US$13 billion annually on new vessels, which is expected to decrease by 20-25% over the next decade. Comparably, the United States spends an average of US$11 billion. With Asia’s new vessel procurement, and the United States yet undetermined increase in spending, AMI forecasts Asia as the leader by the next decade.

“This year, approximately US$7 billion are being spent on naval new construction in the Asia-Pacific region. AMI International anticipates this figure will double by 2009, or in six short years. No other region is growing in this fashion,” said Robin Keil, Vice President of AMI International. “In fact, Asia will overtake the United States and Europe in the next few years in naval ship construction expenditures.”

This growth in Asia is a result of individual countries in this area desiring to take on a greater role in regional security, oversight on important sea lanes of commerce, as well as expanding their presence within their own exclusive economic zones. “The exclusive economic zones in Asia represent a vast amount of assets yet to be capitalized, including petroleum, natural gas, fisheries, and mineral reserves. Some of the naval vessels that will be procured will also afford some Asian countries the capability of blue water roaming.”

AMI International tracks and analyzes the world’s 151 ocean based navies and their procurement and expenditure plans. AMI publishes the results of these analyses in their “Worldwide Naval Projections Report” which is prepared by their team of experienced senior naval analysts.

Asia’s decision to pursue new naval vessels is not seen as a threat to maritime operations or international treaties. Nor has this move been interpreted as a response to terrorist threats on land or on the high seas. This procurement plan simply is a result of the region’s desire for continued growth and economic stability.


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