Who Has The Biggest Navy?

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IBTimes: Who Has The Biggest Navy? Military Defense Spending On The Rise Amid Global Conflict

China, the U.S. and Europe have long been big spenders when it comes to military technology, but where do they go window shopping? Paris, of course.

The global market value for navy defense is estimated to be about $40 billion, Defense News reported. As defense budgets continue to skyrocket, a massive annual industry trade show in the French capital next week is setting the stage for countries looking to ramp up their maritime defense efforts.

U.S. suppliers have the largest market share of the maritime defense industry with $12 billion, while Europe enjoys sales of at least $10 billion. Producers in China and Russia each claim between $3 billion and $4 billion, according to Patrick Boissier, president of the French trade organization Groupement des Industries de Construction et Activités Navales (Gican), which coordinates the trade show called Euronaval.

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WNU Editor: Asia is probably the place where much of the growth and focus in naval spending will occur.