Asia and the world loading up on more tanks and armored vehicles

Asian spending on armored vehicles (tanks and armored personnel carriers) during the next decade is likely to reach USD166 billion.

China, India, and South Korea are among the world’s top 10 spenders on military vehicles and are likely to contribute more than USD126 billion to the global market during the next decade.

China will go from $5.5 billion per year to about $8 billion per year. China makes its own tanks now.

China exports to regional militaries such as Bangladesh, Indonesia, Myanmar, the Philippines, and Thailand. China’s position as a primary supplier to Southeast Asia is interesting, considering that it is Beijing’s geopolitical assertiveness that is driving much of the military modernization in the region. China supplies a lot of Pakistan.

India is buying about $2.5 billion per year now but should increase to $3.5 billion per year. Instead of the originally planned widespread adoption of the Arjun, it is likely that there will be an order for a further 700 license-built T-90S Bhishmas from the OFB in the second quarter of 2018. Concurrently India will also be inducting 494 T-90MS MBTs that it acquired in kit form from Russia for USD2 billion to supplement the Bhishma MBTs.

South Korea is spending about $2 billion per year but will increase to $2.5 billion per year. South Korea’s plans to produce additional Hyundai Rotem K2 (Black Panther) MBTs have been delayed by three years due to technical issues with the platform’s indigenously developed transmission system. The country is now considering importing the transmission from a foreign contractor.

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