D&S 2019: $270 billion to be spent on naval vessels in Asia-Pacific over next decade
New procurement of naval vessels in the Asia Pacific region is proceeding apace, with spending forecast to total nearly $270 billion between 2019 and 2029.
Beijing provides the largest source of vessel procurement requirements globally as it builds up a blue-water navy capable of power projection.
According to Defence Insight analysis, there are 29 ongoing and forecast procurement programmes covering at least 250 vessels as it looks to increase influence abroad. China is forecast to spend $123 billion over the next ten years, investing heavily in its domestic shipbuilding capability.
Beyond China, Taiwan, South Korea and Japan are on
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