PARIS Ė Together the eight countries making up the G8 contributed $1,074.0 billion in 2011 to the global defense spending industry, with a compound annual growth rate (CAGR) of 5.5 percent between 2007 and 2011, according to market research firm Research and Markets.
The report, entitled "Defense Spending - Global Group of Eight (G8) Industry Guide", indicates that the G8 countries are predicted to reach a value of $967.9 billion in 2016, with a CAGR of -2.1 percent from 2011 to 2016.
The United States, with a share of 65.7 percent, held the major share of the defense spending industry in 2011. It is expected to lead the defense spending market industry in the G8 nations, with a value of $578.3 billion in 2016, Research and Markets said.
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