World’s shipbuilders pitch for 450-billion-euro market at Paris salon
Naval contractors show their wares in Paris this week, pitching for a cut of the 45-billion-euro world market in a sector that is growing despite cuts in government spending. Sponsored by France's defence ministry, the 24th Euronaval salon at Le Bourget runs until Friday.
“With turnover of more than 40 billion euros a year, military naval construction is one of the drivers of the global economy,” Euroval president Patrick Brossier said this weekend.
With 90 per cent of global trade happening crossing maritime borders and natural resources becoming scarcer, naval security represents a growing industry and tensions are appearing or reappearing in a number of regions, especially around Exclusive Economic Zones.
Ninety delegations and 200 exhibitors from 65 countries are attending Euroval 2014.
India and Australia have their own pavilions for the first time and Belgium, the United Arab Emirates and Turkey are new participatnts.
Orders for boats for military use were worth 150 billion euros in September 2014, while the civilian sector was worth 300 billion euros.
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