Growing complexity in assembly and maintenance of military assets combined with a shortage of skilled engineers is expected to drive the market for virtual reality/augmented reality products. A report from Digi-Capital predicts that the market for virtual and augmented reality will be worth $120 billion by 2020
Indias state-owned defense electronics manufacturer, Bharat Electronics sits on a current order book value of over INR 40000 crore (US$6.2 billion) and is expecting an additional INR 13,000 crore (US$2 billion) this year
United Nations Security Council (UNSC) is examining the role of Pakistan in supplying restrictive nuclear materials ‘Monel and ‘Inconel to North Korea. Pakistan is one of few countries having both a diplomatic and an economic relationship with North Korea that goes back to the 1970s, when then Prime Minister Zulfikar Ali Bhutto visited Pyongyang as part of his foreign policy campaign to strengthen relations with socialist states
Saab will showcase its New Lightweight Torpedo at this year´s Undersea Defence Technology (UDT) exhibition in Bremen, Germany on 30 May- 1 June. This will be the first time Saab demonstrates the system, ordered by the Swedish Defence Material Administration in 2016, to the global defence market
Iveco Defence Vehicles (DV) has signed a contract to supply 400 trucks between 2017 and 2021 to the Swiss Armed Forces. The agreement was signed at the powertrain R&D center belonging to Iveco Defence Vehicles CNH Industrial sister brand FPT Industrial in Arbon, Switzerland on May 2, 2017
The successful launch of California-based Rocket Labs' battery-powered and 3-D printed rocket yesterday that costs $5 million per flight could challenge affordable satellite launch services from India and China. The first flight was conducted in New Zealand facility because of the open seas to its south, and a relatively low amount of air traffic, unlike in the United States, boats and flights have to be re-routed for most rocket launches
Loss suffered by Pakistan's economy on account of its fight against terrorism has been estimated at $3.88 billion (Rs407
US Army has failed to keep accurate records on more than $1 billion worth arms transfers in Iraq and Kuwait, according to declassified document obtained by a human rights organization. The arms have been supplied under US-Iraqi cooperation agreement
Indias Hindustan Aeronautics Ltd (HAL) conducted the first flight of its Light Utility Helicopter's (LUH) second prototype Monday. The twin-seater chopper LUH PT-2 was flown for 22 minutes on Monday by Chief Test Pilot Wing Commander (retired) Unni K
South Korea has signed a technology support contract with an Israeli defense firm and has abandoned a plan to build a radar system for its KF-X fighter jet program. The state-run Agency for Defense Development signed the contract with Elta without revealing the exact volume of the contract