Perspectives and the role of Bosnian defense industry in national innovation system

Abstract

The increased global demand for weapons is growing fast both military and civilian grade equipment. The defense industry is experiencing an increase in its trades and production over the globe. Currently global market trade of arms is about US$ 1.9 trillion, with a trend of increase. This paper investigates global trends in defense through analysis of global defense spending and R&D activities with the focus to Bosnian defense industry perspectives. It was observed that Bosnian defense industry has potential to be one of the key players of the national innovation system through which the national R&D output would make notable positive impact on the national economic performances.