World’s military arsenals are expected to double in size by 2030, compared to 2016.
By 2030, the countries with top defense spending are expected to be:
USA with over 1 trillion (had $611 billion in 2016),
China with $736 billion (had 215 billion in 2016), and
India with $213 billion (had 56 billion in 2016)
China, with $228 billion military expenditure in 2017 is the world’s second largest spender, with its share representing 13% of world’s total, compared to 5.8% a decade ago.
By 2020, Asia-Pacific military spending will be about the same as North America. North America will be for 33% of global defense spending down from about 50% in 2016.
By 2045, India’s defence expenditure might reach $654 billion, about the same as all European Union countries combined.
SOURCES – DW
Written By Brian Wang, Nextbigfuture.com