Saudi Arabia Becomes World's Top Arms Importer of Defense Equipment

Saudi Arabia overtook India in 2014 as the world's biggest importer of defence equipment, fuelled by tensions in the Middle East, according to a study published Sunday by respected analysts IHS Jane's.

Global defence trade currently stands at $64.4 billion, said the report from the London-based defence specialists.

The figure has been driven by "unparallelled demand from the emerging economies for military aircraft and an escalation of regional tensions in the Middle East and Asia Pacific," IHS expert Ben Moores said.

The report, which examines the defence market across 65 countries, found that Saudi Arabia spent more than $6.4 billion on defence kit in 2014, overtaking India on $5.57 billion .... http://news.yahoo.com