Deloitte: Defence sector to grow 2.7% in 2016, ending decline

The sombre security outlook is driving governments worldwide to beef up their militaries, with forecasters noting an increase in demand for munitions and light attack and surveillance aircraft from aerospace manufacturers.

The turnaround is driven partly by a $13 billion uptick in US military spending, with Congress approving more than $570 billion for the Department of Defense (DOD) for fiscal 2016.

The United Arab Emirates, Saudi Arabia, India, South Korea, Japan, India, China and Russia are also driving growth by investing in next-generation military equipment, according to Deloitte’s 2016 global aerospace and defence outlook, published this week.

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