Asia-Pacific Spending Spree

The Asia-Pacific will comprise 26 percent of global naval and maritime security builds within the next 20 years as complex relationships and rivalries drive procurement.

Asia-Pacific Spending Spree

TAIPEI — The Asia-Pacific will comprise 26 percent — nearly $200 billion — of global naval and maritime security builds in the next 20 years as complex relationships and rivalries drive procurements designed for particular regional challenges.

New builds in Asia and Australia include six aircraft carriers, 128 amphibious and 21 auxiliary ships, 12 corvettes, two cruisers, 42 destroyers, 235 fast attack craft, 115 frigates, 34 mine countermeasures, 82 offshore patrol vessels (OPVs), 255 patrol craft and 116 submarines, said Bob Nugent, vice president of advisory services at AMI International, a naval analysis firm based in Bremerton, Wash.

This list includes China with 172 hulls, South Korea at 145 and Japan at 74, he said.

The OPV market in particular is maturing, with a total regional market forecast for 2013-2030 of $4.6 billion.

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Source: Defense News.