Rise in Military Spending Globally is bolstering Battlefield Management System Market

There is a significant rise in the military expenditure worldwide, the total military spending accounted to US$ 1.686 trillion in 2016 signifying an increase of 0.4% from 2015, as per the Stockholm International Peace Research Institute (SIPRI). Among all the countries globally, US continued to be the top spender on military in 2016 i.e. around 36% of the global total spending and more than three times the investments made by China, the second major spender. Furthermore, Russia increased its outlay 5.9%, placing itself on the third position, as per the estimates by the Swedish think tank.

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Saudi Arabia placed at the third largest country to spend on military forces in 2015 however, the country plunged to the fourth position in 2016 in spite of its significant part in the fight across its border in Yemen. Also, Western Europe has increased its overall military expenditures by 2.4% owing to tensions with Russia. However, Italy showed a significant rise of 11% increase in its military spending. The China’s military spending is fueled by the increasing tensions in South China Sea, which has resulted the country to change its territorial defense strategy to power projection.

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Fueled by growing tensions about global stability, increase in new military powers, and increasing international pressure, countries across the globe are constantly accelerating their expenditures on military reinforcement thereby, increasing the implementation of BMS. For instance, in 2015, a group of Bharat Electronics Limited (BEL), defense Electronics Company in India, and Rolta India Limited, innovative IT solutions provider, were selected as a development agency for an over Rs 50,000 worth BMS project by the Ministry of Defence (MoD). BMS project, categorized as a ‘Make’ programme under the Defense Procurement Procedure, was one of the largest solutions to be natively manufactured for the Indian Defense.

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