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New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Railway Braking System Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and Train Type" - https://www.reportlinker.com/p06010091/?utm_source=GNW
Therefore, the governments of respective countries are making huge budget allocation for improving their existing rail infrastructure.
India has a fourth-largest railway system worldwide, after the US, Russia, and China.Countries, such as India, China, the Philippines, and Thailand, are investing monetary resources on reinforcing their railways.
In India, the railway projects announced by the government for passenger trains and redevelopment of railway stations have a potential of drawing investment of more than US$ 7.5 billion in the coming five years. Similarly, the governments in the Middle East are investing US$ 104 billion on major public transport initiatives to drive future smart cities. For instance, in the UAE, Dubai is making an investment of US$ 5 billion to extend metro rail system. Other countries in the Middle East are funding their railways with massive amounts, including US$ 10.7 billion in Qatar, US$ 71 billion in Saudi Arabia, US$ 7 billion in Jordan, and US$ 7 billion in Kuwait. Such investments in railways sector would transform it as per the future requirements. Expansion in railways through funding is driving the scope of integration of railway braking systems.