Editors Note: We would like to thank the Union Leader for highlighting our 2018 NHAD Networking event and publishing this great piece on May 20, 2018.
BEDFORD — Trends and tensions are shaping the future of the global defense export industry, according to a defense industry expert.
“There are a lot of transitions going on in the defense aerospace market,” Tate Nurkin, founder of OTH Intelligence Group LLC, told a group of trade representatives last week in New Hampshire.
While the United States is dominating the field in terms of the highest amount of money spent on its global defense budget, China takes second and India just surpassed the United Kingdom for third place in spending for 2017, Nurkin said.
There have been four consecutive years of growth for defense budgets, according to Nurkin, who said that investment creates a positive message for companies in the defense, aerospace and innovation fields.
That’s good news for members of the New Hampshire Aerospace and Defense Export Consortium, which held its annual networking event Thursday at the Manchester Country Club.
“There is certainly a lot of money out there,” Nurkin said, adding he expects global defense spending to pass its $1.63 trillion peak from 2010 and reach about $1.7 trillion this year — a 3.5 percent increase.
He said China is starting to make some impressive gains in the area as a global defense exporter, adding a joint development area was recently established in Saudi Arabia that serves as a regional hub.
To read the rest of the Union Leader’s article highlighting the 2018 NHAD Networking Event please click here or below.
Union Leader Article