IMDEX 2013: Asia-Pacific navy procurement expected to increase
With countries in Asia-Pacific planning to spend some $200 billion by 2032 on new naval vessels, companies both from the region and globally are eagerly pursuing what has become the second largest market in the world.
Ng Eng Hen, Singapore’s minister of defence, told the IMDEX exhibition on 14 May that secure sea routes remain critical to stability and economic growth in the region, while increasing threats, such as piracy, maritime terrorism, weapons of mass destruction proliferation and territorial disputes, pose new challenges.
‘These challenges cannot be solved by any one nation, no matter how well resourced,’ he argued. ‘Instead,
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