There are a growing number of countries that have a more sophisticated defense capability… They are more able to satisfy their own defense requirements and are starting to compete in the export market against more established suppliers.” –Doug BerensonAvascent Managing Director and Avascent Analytics leader Doug Berenson was recently interviewed by CNBC on Avascent’s recent white paper, Dynamics of International Military Modernization. Berenson explains in the piece that dominance of the defense market by Western countries is on the wane as more countries develop their own sophisticated defense capability. Countries that have previously worked with the U.S. as partners to carry out final assembly or to ensure significant local input, have developed their market enough to satisfy domestic needs or even become exporters themselves. Examples include South Korea, Israel and Brazil.
Read the full CNBC article here.
Read the full Avascent white paper and watch the accompanying video: Dynamics of International Military Modernization 2016. In addition, an explanatory infographic is available here.