WASHINGTON, DC – As global arms markets diversify, the US and Russia remain the top exporters, while European firms are the most vulnerable to lose their market share as emerging competitors increase the sophistication of their exports.
There is competition coming from other parts of the world now. China is the most visible…but increasingly you have capabilities being developed in other parts of the world” — Jon BarneySpeaking to Defense News, Avascent Managing Director Jon Barney commented “It’s a rising tide, and it’s game-changing across the sector.”
Countries such as Turkey and China are closing the technology gap between themselves and tier 1 Western suppliers. Thus they can offer indigenous products to both their own national defense and other regional buyers, who are increasingly willing to procure equipment from sources other than the US and Russia, which may come with geopolitical and ideological strings attached.
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