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GlobalData

Aerospace, Defense & Security

Greece defense budget to remain in mid-1% of GDP through 2029, forecasts GlobalData

Despite the Greek government’s policy goals of reaching NATO’s 2% spending target, the country’s economic issues and political divisions are a challenge to its long-term defense spending increases and acquisition programs. As such, Greece’s defense budget is projected to remain in the mid-1% of its gross domestic product (GDP) through 2029, says GlobalData, a leading […]
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Japan defense budget witnesses 19.3% CAGR during 2020-2024, reveals GlobalData

Despite the current economic downturn fueled by devaluating Yen, Japan’s ministry of defense requested a 17.2% increase in its 2024 defense budget, a significant portion of which is expected to be allocated for the procurement of various defense platforms, including submarines, surface vessels, and multi-role aircraft. Japan’s need to modernize its current inventory to counter […]
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Project 17 Bravo frigates to enhance Indian Navy’s operational effectiveness with significant improvements over preceding class, says GlobalData

In line with its efforts to enhance deterrence capabilities against the increasing Chinese presence in the Indian Ocean Region (IOR), India’s Defence Acquisition Council recently approved the acquisition of the Indian Navy’s Project 17 Bravo frigates. This initiative involves the construction of seven new frigates, incurring an investment of INR70,000 crore ($8.34 billion), while incorporating […]
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Su-30 MKI aircraft engines procurement to enhance India’s combat readiness, says GlobalData

India is strengthening its combat readiness with the procurement of 240 AL-31FP engines for its Su-30 MKI fighter jets in a INR2,600 billion (~$3.1 billion) deal. Locally manufactured by Hindustan Aeronautics Limited under a licensing agreement with Russia’s NPO Saturn, these engines will enhance operational capabilities, maintain low production costs, and address the technical and […]
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Persistent China threat to spur Taiwan defense spending to $23.4 billion in 2029, says GlobalData

China’s decades-old claim to own Taiwan as its territory is persistently posing a threat to the latter. As China continues to intimidate Taiwan by firing missiles and deploying military aircraft and naval vessels along its borders, Taiwan finds ever-growing need to modernize its current fleet and build a battle-ready armed force to defend itself against […]
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INS Arighat to boost India’s nuclear deterrence amid growing Chinese influence in Indian Ocean, says GlobalData

Following the news that India has commissioned its second nuclear ballistic missile submarine, INS Arighat; Kandlikar Venkatesh, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The commissioning of INS Arighat marks a significant advancement in India’s strategic submarine manufacturing capabilities, emphasizing the country’s commitment to further strengthen its strategic nuclear […]
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Taiwan ambitious submarine program a vital deterrence measure against China, says GlobalData

Taiwan is reinforcing its defense posture against China with an $8.8 billion investment in its Indigenous Defense Submarine Program, which aims to induct eight new submarines into its naval fleet over the next decade. These advanced submarines, developed with key support from the US and other allies, will significantly enhance Taiwan’s underwater warfare capabilities amid […]
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Italy defense budget to struggle to reach 2% spending target despite government efforts, says GlobalData

Italy’s economic issues and political divisions pose a challenge to its long-term defense spending increases and acquisition programs. Despite the government’s policy goals of reaching NATO’s 2% spending target, Italy’s defense budget is projected to remain in the mid-1% range during this decade, says GlobalData, a leading data and analytics company. GlobalData’s latest report, “Italy […]
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Global unmanned surface vessel market to more than double to $2.5 billion by 2034, forecasts GlobalData

In recent years, a number of systems have entered the battlespace, and more than 40 countries will operate unmanned surface vessels (USVs) by 2034. The proliferation of unmanned systems in the global defense market continues to have a growing impact on the future of naval warfare, following Ukraine’s successful campaign against the Russian Black Sea […]
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South Korea defense expenditure to reach $54.7 billion in 2029 amid tensions with North Korea, observes GlobalData

South Korea’s defense spending is set to grow from $45.2 billion in 2024 to $54.7 billion in 2029, primarily driven by the persistent threat posed by North Korea and to achieve the broader goal of strengthening the former’s overall security posture. This growth underscores South Korea’s determination to continue investing in the procurement of modern […]
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Poland defense expenditure to reach $48.5 billion in 2029, forecasts GlobalData

Poland seeks to strengthen its military readiness and contribute more to the North Atlantic Treaty Organization (NATO) following Russia’s illegal invasion of Ukraine and mounting concern over the future of transatlantic security cooperation. Seeking to deter an emboldened autocracy in Russia, Poland will increase defense spending from $36.4 billion in 2024 to $48.5 billion in […]
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Turkish defense industry offers promise for export potential but challenges remain, says GlobalData

Türkiye’s growing domestic defense industry is seeking to expand into a growing export market. However, the country’s economic and political issues threaten to undermine this potential, as poor fiscal policy, authoritarian politics, and erosion of an independent central banking system have limited Western investment, says GlobalData, a leading data and analytics company. GlobalData’s latest report, […]
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Prachand LCH procurement to propel India’s quest for indigenization of defense manufacturing, says GlobalData

The Indian Ministry of Defence (MoD) issued a Request for Proposal (RFP) to Hindustan Aeronautics Limited (HAL) for the acquisition of 156 Prachand Light Combat Helicopters (LCH), which will cost the country’s exchequer about $5.4 billion. This procurement holds paramount importance in India’s quest for self-reliance in defense manufacturing and is expected to boost the […]
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MQ-4C Triton to improve Australia’s maritime surveillance capabilities and facilitate long-range targeting, says GlobalData

Australia recently received its first MQ-4C Triton from the US, marking a significant achievement in stepping up the Royal Australian Air Force’s (RAAF) maritime surveillance and intelligence-gathering capabilities in the tense Indo-Pacific region. This high-altitude long endurance (HALE)-category UAV would enable RAAF to achieve increased situational awareness over larger areas of Australia’s maritime borders and […]
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Romania’s military modernization efforts to offer market entry routes for defense firms, says GlobalData

As a former member of the Warsaw Pact, Romania still possesses large volumes of aging Cold War equipment. In order to meet North Atlantic Treaty Organization (NATO) standards, Romania can either outright replace such models with modern, Western equipment or heavily modify units to bring these platforms in line with NATO’s STANAG (Standardization Agreement) documents. […]
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China accelerates naval modernization amid rising regional tensions, says GlobalData

China has unveiled its inaugural drone carrier in response to heightened tensions and evolving geopolitical dynamics in the Asia-Pacific region. This marks a significant stride in its ambitious military modernization efforts, reflecting its commitment to bolstering naval prowess. With a focus on enhancing maritime surveillance capabilities and asserting dominance in contested areas like the South […]
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