At face value, Eurasia seems emblematic of markets across the developing world. Its value, in terms of defense spending, is relatively middle of the road: $51.65 billion, compared with Latin America's expenditure of $42 billion. Its structure mirrors that of the Middle East: a single, large national market surrounded by smaller markets. Like corresponding markets in Latin America and the Middle East, its value tends be highly elastic, shaped by regional geopolitical events.rnHowever, Eurasia's similarity to other developing arms markets ends at these broad-based comparisons. Between 2003 and 2007, the region grew at a compound annual growth rate of 27.5 percent - a growth rate that solidified its role as the world's fastest growing arms market measured by defense spending. Through 2012, Eurasia's defense market value is forecast to grow nearly 12 percent annually, whereas the defense markets of Latin America and the Middle East are projected tornexperience only marginal growth, or to decline. Moreover, of greater significance to the region's importance as an arms market, baseline procurement spending is forecast to increase from $7.74 billion in 2008 to over $12.7 billion in 2012 - a 64 percent increase over the course of four years.rnEurasia clearly represents a growth market for arms; however, the focus of this market assessment is to determine whether or not this growth represents real opportunity for Western defense contractors - primes, systems integrators, component manufacturers, and military services providers. By examining the economic, security, and political trends shaping the region as a whole and profiling the developments shaping the individual country markets, the Forecast International Eurasian Military Market analysis provides a comprehensive examination of the forces driving the market and the opportunities and risks they entail.
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