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GlobalData
GlobalData

Aerospace, Defense & Security

South Korea defense budget to rebound in 2024 after 2023 dip amidst growing threats from North Korea, China, predicts GlobalData

The escalating tensions with North Korea and China’s growing assertiveness have compelled South Korea to enhance its military capabilities and preparedness, such as investing in new weapons systems, expanding military personnel, and strengthening cybersecurity infrastructure. Against this backdrop, the country’s defense budget is forecast to increase to $52.1 billion in 2028, according to GlobalData, a […]
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Indra’s Lanza-N radars will allow Indian Navy to upgrade sensor suite of main surface combatants, says GlobalData

Following the news that Spain’s Indra and TATA Advanced Systems Limited (TASL) have initiated the installation of the first of the 23 Lanza-N radars for the Indian Navy; Tushar Mangure, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The Lanza-N radars are expected to augment the Indian Navy’s surveillance and […]
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Indian Navy acquisition of patrol and missile vessels will help enhance self-reliance in defense manufacturing, says GlobalData

The Indian Navy recently signed multiple contracts worth approximately $2.4 billion (Rs 19,600 crore) with domestic companies to acquire eleven Next Generation Offshore Patrol Vessels (NGOPVs) and six Next Generation Missile Vessels (NGMVs), as part of its ongoing fleet modernization plans. In addition to enhancing the navy’s combat capability, these programs will also facilitate the […]
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Taiwan efforts to modernize air, naval capabilities to spur defense budget at 4.6% CAGR through 2028, forecasts GlobalData

Amidst persistent military threats from China regarding the “One China Policy,” Taiwan is striving to modernize its air and naval combat capabilities. Against this backdrop, the defense expenditure by the country is expected to witness a compound annual growth rate (CAGR) of 4.6% to reach $20.8 billion in 2028, forecasts GlobalData, a leading data and […]
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New Zealand potential involvement in AUKUS agreement might enhance defence capabilities and address regional security challenges, says GlobalData

Following the news that New Zealand expressed its willingness in joining the non-nuclear ‘pillar two’ of the AUKUS agreement that involves working on several emerging technologies; Harshavardhan Dabbiru, Defence Analyst at GlobalData, a leading data and analytics company, offers his view: “The technologies associated with the AUKUS pact have significant potential to enhance the defence […]
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Maritime exercises with US will help Japan enhance deterrence against China and North Korea, says GlobalData

Following the news that the Japanese Maritime Self-Defense Force (JMSDF) Hyuga-class destroyer conducted maritime bilateral exercise with the US Navy’s carrier strike group; Kandlikar Venkatesh, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The maritime drills with the Hyuga-class helicopter carrier will assist the JMSDF in preparing for the F-35B’s […]
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ST Engineering bags estimated $1.2 billion deal to build multirole combat vessels for Singapore Navy, says GlobalData

Following the announcement of the new contract signed between Singapore and ST Engineering to build multirole combat vessels; Akash Pratim Debbarma, Defense Analyst at GlobalData, offers his view: “The contract is part of the modernization of the Armed Forces of Singapore to secure its maritime boundaries and sovereignty. The country plans to replace its current […]
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Indigenous warship design and construction initiatives to drive global naval vessel and surface combatant market to $65.8 billion in 2033, says GlobalData

The market for naval vessels and surface combatants, which was valued at $44.2 billion in 2023, is anticipated to reach $65.8 billion in 2033, driven by an increased focus on the acquisition of indigenous warship designs and construction capabilities by emerging militaries such as India, Brazil, Turkey, and Australia, forecasts GlobalData, a leading data and […]
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Horizon 3 of AFP Modernization Program to drive Philippines defense budget at 6.5% CAGR through 2028, estimates GlobalData

The Armed Forces of the Philippines (AFP) Modernization Program has entered its third phase (Horizon 3) this year. Against the backdrop, the Philippines defense market is set to expand at a compound annual growth rate (CAGR) of 6.5%, with the projected cumulative defense spending reaching $26 billion in 2028, forecasts GlobalData, a leading data and […]
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India’s HAL set to make a mark in foreign defense market with Tejas, says GlobalData

Following the news that India is in talks with Egyptian and Argentinian officials over a possible deal to supply 35 aircraft of Hindustan Aeronautics Limited’s (HAL) Tejas LCA Mk-1A; Chandan Kumar Nayak, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “GlobalData expects that the contracts will strengthen the domestic aerospace […]
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Maiden landing of LCA Navy, MIG-29K on INS Vikrant demonstrates India maritime power in Indian Ocean region, says GlobalData

Following the successful landing and take-off of the indigenous LCA Navy and MiG-29K on India’s first Indigenous aircraft carrier INS Vikrant (IAC-1); Venkatesh Kandlikar, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “The move marks the official start of the aircraft carrier’s fighter jet aviation trials, as well as a […]
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New helicopter manufacturing factory may help HAL to venture into rotary UAV production, says GlobalData

Following the news that Prime Minister Narendra Modi inaugurated Hindustan Aeronautics Limited’s (HAL) new helicopter manufacturing facility in Tumakuru, Karnataka; Tushar Mangure, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “With the development and expansion of supply chain infrastructure involving small and medium enterprises, aided by technology infusion by leading […]
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Persistent border flare-ups with China spur India to boost defense spending by 13.1%, says GlobalData

Following the news that India has allocated $72.6 billion to the Defence Research Development Organisation (DRDO) in its Union Budget for the Financial Year 2023-24; Abhijit Apsingikar, Defense Analyst at GlobalData, offers his view: “Growing presence along the Himalayan frontier, cross-border incursions and increased naval activity in the Indian Ocean by China are a cause […]
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Egypt efforts to modernize aircraft inventory to drive defense expenditure at 3.9% through 2028, forecasts GlobalData

The US provides Egypt with $1.3 billion of military assistance annually to facilitate the transition from the outdated Soviet era equipment to advanced equipment made in the US and other Western nations. Against this backdrop, Egypt’s defense expenditure spending, inclusive of the US military funding, is forecast to register a compound annual growth rate (CAGR) […]
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India submarine procurement to provide lucrative opportunities for both domestic, foreign companies over next decade, says GlobalData

Following the news that India has commissioned its fifth diesel-electric Kalvari-class submarine INS Vagir; Sourabh Banik, Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “INS Vagir is a testament of India’s robust domestic submarine-building capability, which contributed towards the induction of three submarines from multiple classes in the last 24 […]
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Expansion of MRO support critical to the success of Western supplied armored vehicles in Ukraine, says GlobalData

Following the British Ministry of Defence’s announcement that western nations would supply the Armed Forces of Ukraine (AFU) with Main Battle Tanks (MBTs) and armored vehicles; Tristan Sauer, Land Domain Analyst at GlobalData, a leading data and analytics company, offers his view: “The decision to provide the AFU with the MBTs and armored vehicles the […]
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