There are only 3 great military powers in the World today who have broad expertise and capacity to produce state-of-the-art military equipment across all areas of the military spectrum. Of course, it's the US, Russia and China. European countries like mine, the UK, France, Italy, and Germany and also Japan and South Korea, are all technologically advanced but none have the capacity and deep funding to invest across the board in comprehensive military R&D. While Russia are relying on the legacy developments of its Soviet heyday and China are a fledgling military power, the US still hold a signifcant edge over Russia and China. I'd expect the US to pull further ahead of Russia, as Russia will struggle to raise funds from arms exports as China begins to eat more and more of its market share. China will get closer to US levels in the coming decades, both quantitatively and qualitatively. In certain areas, like missile development, China are possibly at least on par, if not hold a slight edge, with asymmetric weapons like their ASBM. To be considered a great military power, however, you have to be able to make all the critical components and subsystems yourself, both possessing the human resource expertise, manufacturing capacity and testing facilities. The bottom line, when push comes to shove, and war breaks out, the US, Russia and China can knock out new planes, ships and missiles very quickly, maybe at the cost of build quality, but needs must during war. Everyone's current military inventory would be irrelevant during wartime, as great military powers can multiply their inventory by diverting domestic capacity towards war efforts. China would be the biggest winner in this aspect with colossal steel and aluminum production capacity. They could probably build carriers like they're going out of fashion, not to mention the vast fleet of massive cargo ships which could be converted into make-shift carriers, if needed. A country like India would find most of its military assets destroyed or damaged within a year of a major war and they'd have limited ability to replenish their losses. If they think the Russians are price gouging them now, imagine when India is being held to ransom, and that's even if Russia can get a supply line to them. If India ever wants to be considered a great military power, then they have to get out of their addiction to procuring foreign weapons at marked up prices. Justifying these huge outlays because they believe they also get ToT is superfluous, because India does not have the manufacturing or technical infrastructure to build complex cutting-edge systems like carriers and jet fighters. Their current 'indigenous' systems like Tejas and Brahmos are basically built from foreign made and developed parts and none of them can be considered game-changers in a war against a major power. India will never be a military power anybody takes seriously until they sort their military fromthe bottom up and that starts with their economy and building up their domestic manufacturing and research industries, focusing in particular on dual-use technologies that can benefit the military, and vice versa. I know this is hard to hear but if Indians cannot be honest with their current predicament, then they have no hope of ever getting close to the top 3.