New Defense market report from Business Monitor International: "Russia Defence & Security Report Q2 2014"
Boston, MA -- (SBWIRE) -- 03/06/2014 -- BMI expects Russia to spend up to US$92.7bn on defence in 2014 with this figure increasing to US $114.6bn in 2018. Unlike the United States which is looking to reduce its defence spending, Russia is able to spend lavishly on its armed forces. Remittances from hydrocarbon exports are greatly aiding Russia's defence expenditure.
Despite the size of Russian arms exports, figures released in early 2014 put Russian defence contractor Almaz-Antey in fifteenth place of the world's leading defence export companies, with Russia's United Aircraft, which performed US$4.4bn worth of exports in 2013 being the only other Russian firm in SIPRI's list of the top 25 arms exporting companies by value. Meanwhile, on 3 January 2014 the Russian government enacted legislation to limit imports of materiel from foreign suppliers. The measure is being seen as a mechanism to protect domestic suppliers.
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In late 2013 it was reported that Russia will spend up to US$650bn on new weapons, platforms and capabilities by 2020. This will include the acquisition of up to 210 warplanes, 250 armoured vehicles and over 40 intercontinental ballistic missiles. At the export level, Russian helicopters continue to prove popular and in December 2013, Peru announced that it had placed an order for 24 Mi-17Sh medium-lift utility helicopters with the contract worth an estimated US$500mn. Furthermore, Russia's state arms export agency Rosoboronexport announced in early February 2014 that it would export Yak-130 jet trainers to Bangladesh. Two months earlier in December 2013, it was reported that the Russian Air Force would increase its Yak-130 acquisition by 55 airframes from the 42 already being supplied.
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