Deloitte report predicts defense industry growth

A new report from Deloitte predicts that global defense industry sales will grow 3.2 percent in 2017 "as defense spending in the U.S. has bottomed out and returned to growth, after multi-year declines in defense budgets."

The report says it expects both the incoming Trump administration as well as increased international issues to drive growth.

"With rising global tensions, international demand for defense and military products is increasing in the Middle East, Eastern Europe, North Korea, and the East and South China Seas," the document states. "This is in turn resulting in increased defense spending globally, especially, in the United Arab Emirates (UAE), Saudi Arabia, India, South Korea, Japan, India, and China -- many of these countries have already started to increase purchases of next generation military equipment."

Download the report.