Overview Of Global Global And China Military Industry
Global and China Military Industry Report, 2009-2010
The year 2009 witnessed the large increase of global military expenditure. The military expenditure of the USA, China, Russia, and India saw a year-on-year rise of 7%, 14.9%, 27%, and 24% respectively. The robust growth of military expenditure worldwide will fuel the demand of global military market. Still, the USA and Europe remain the major exporting areas of weaponry, while the military industry of Asian region has developed rapidly during the recent years, mainly contributed by such nations as China, Japan, India and Israel. The rest of the world, including Africa and Latin America, is still the importing regions of armament products. ( http://www.bharatbook.com/detail.asp?id=144417&rt=Global-and-China-Military-Industry-Report-2009-2010.html )
The substantial increase of global military expenditure in 2009 obviously promoted the major military enterprises across the world and the operating revenue of all chief military magnates including Lockheed Martin (USA) and BAE Systems (Britain) grew significantly. Against 2008, the operating revenue of Lockheed Martin and BAE Systems in 2009 rose by 6% and 17% respectively.
As for the military industry of China, the relatively fast growth of Chinas military expenditure in recent years has been the main drive for the development of Chinese military enterprises. The domestic key military industrial groups, including Aviation Industry Corporation of China, China North Industries Group Corporation, China Shipbuilding Industry Corporation, etc., are accelerating the further reorganization in property rights and structure, based on the traditional transfer of military-to-civil business. The securitization of military industrial assets is given priority to be geared. Among the listed companies subordinated to the current military industrial groups, taking China Aerospace Times Electronics Co., Ltd as an example, in 2009, the operating revenue of its businesses like rocket, satellite, micro-electronics and precision-guided counterwork accounted for 79.5% of the companys total revenue, forming the major driving force for the rising benefits of the company.
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