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Tuesday, December 21, 2010

African Defense Spending Growth Expected to Slow

Sigma corvetteThe structure of the African arms market has shifted in recent years due to burgeoning energy economies and the efforts of certain nations to launch long-awaited equipment recapitalization programs.

As a result, defense spending in Africa has increased substantially over the past five years, with compound annual growth rate of about 13 percent from 2005 to 2009.

Nevertheless, this trend is unsustainable over the long term, and growth in the African defense market is expected to slow, according to Forecast International’s annual African market overview.

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