Law360, New York (September 30, 2013, 5:53 PM EDT) -- Traditional markets for U.S. defense contractors are shrinking, as a consequence of sequestration and related budget pressures as well as the wind-down of U.S. military commitments in Iran and Afghanistan, and because European Union countries are reducing their defense expenditures. At the same time, defense spending is on the rise in several regions of the world where security threats are increasing. The greatest increase in regional military expenditures is forecast for East Asia, South Asia and the Middle East. Excluding China and Israel, countries expected to dominate spending on foreign-sourced military equipment include the Republic of Korea, Taiwan, Japan, Singapore, Indonesia, India, the United Arab Emirates, Saudi Arabia, Qatar and Turkey....