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Sector Analysis
NewNetherlands Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Prior to Russia’s invasion of Ukraine, the Dutch government did not make defense spending a priority. Since the return of high-intensity warfare to Europe, the Netherlands has made a more determined effort to modernize its armed forces and share NATO’s burden. The increase in defense spending over the historic period (2020–24) demonstrates this commitment. While the Netherlands only spent $12.8 billion on defense at the start of the decade, 2024 is expected to be a consequential year. With $22.8 billion...
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Sector Analysis
NewHungary Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Hungary Defense Market Report Overview In 2024, Hungary's defense budget is worth $4.6 billion. The country’s defense budget will grow at a CAGR of more than 6% during 2025-2029. The largest component of Hungary’s defense expenditure every year is acquisition. This is the result of the ongoing Zrínyi Modernization Program to update Hungary’s aging military equipment, much of which is still a holdover from the Soviet era. Hungary Defense Market Outlook, 2024-2029 ($ Billion) Buy the Full Report for More...
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Sector Analysis
NewBahrain Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Bahrain Defense Market Report Overview As of 2024, the Bahrain defense budget is worth $1.5 billion. The country’s defense budget will grow at a CAGR of more than 2% during 2025-2029. Modernization efforts and Bahrain’s strained relationship with Iran are the major drivers for defense expenditure. The Bahraini government aims to maintain international and regional security and continue peacekeeping activities. Bahrain Defense Market Outlook, 2024-2029 ($ Billion) Buy the Full Report for More Insights into the Bahrain Defense Market Forecast...
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Sector Analysis
NewLithuania Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Lithuania Defense Market Report Overview The Lithuania defense budget was worth $2.1 billion in 2024 and will grow at a CAGR of more than 6% during 2025-2029. The budget will grow because of modernization commitments by the Lithuanian government and additional threats, including the conflict in Ukraine, have heightened the need for military spending. The Lithuanian military is pursuing several programs, including the acquisition of armored vehicles, M142 HIMARS, and Black Hawk helicopters to provide it with more modern capabilities. Lithuania...
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Sector Analysis
NewColombia Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Columbia Defense Market Report Overview As of 2024, the Columbia defense budget is worth $13.7 billion. The country’s defense budget is expected to grow at a CAGR of more than 6% during 2025-2029. Border disputes, continuous human rights violations, and terrorism are the major drivers for defense expenditure. In 2017, the Venezuelan Armed Forces invaded and forcefully occupied a small part of the Colombian territory in the border area separated by the Arauca River. Columbia Defense Market Outlook, 2024-2029 ($...
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Sector Analysis
NewVietnam Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Vietnam Defense Market Report Overview The Vietnam defense budget is worth $7.8 billion in 2024 and is forecast to register a robust CAGR of more than 5% during 2025-2029. Territorial claims in the South China Sea and the increasing strength and assertiveness of the Chinese armed forces have spurred the Vietnamese government to enhance its military capabilities, driving Vietnam’s defense expenditure. Additionally, Vietnam is planning to replace its obsolete equipment to combat the modern threat scenario. The country is expected...
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Sector Analysis
NewPhilippines Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Philippines Defense Market Report Overview The Philippines defense budget is worth $4.1 billion in 2024 and is expected to register a robust CAGR of more than 6% during 2025-2029. Territorial claims in the South China Sea and the increasing strength and assertiveness of the Chinese armed forces have spurred the Philippines government to enhance its military capabilities, driving the Philippines’s defense expenditure. Additionally, the Philippines is planning to replace its obsolete equipment to combat the modern threat scenario. The country...
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Sector Analysis
NewGhana Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029
Ghana Defense Market Report Overview As of 2024, the Ghana defense budget is worth $317 million. The country’s defense budget is expected to grow at a CAGR of more than 11% during 2025-2029. The need to mitigate the escalation in regional instability in the Sahel region is the major factor driving Ghana’s defense expenditure. Additionally, the increasing threat of piracy in the Gulf of Guinea poses a major risk to the maritime trade and compels Ghana to enhance patrolling in...
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Sector Analysis
United States (US) Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
US Defense Market Report Overview The US defense budget was worth $818.8 billion in 2023, which was a 10.7% rise from the previous year. This is in response to the deteriorating global security environment such as the Russian invasion of Ukraine and continued tensions with China over territory in the South China Sea and wider Indo-Pacific. Numerous geo-strategic and domestic political imperatives continue to drive US expenditure as defense capabilities gain growing political importance. The country’s defense budget is expected to...
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Sector Analysis
Latvia Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Latvia Defense Market Report Overview As of 2023, the Latvia defense budget was worth $1.0 billion. The country’s defense budget is set to see high levels of growth, registering a CAGR of more than 10% between 2024 and 2028. The rise in military spending is attributed to Russia’s invasion of Ukraine in 2022 and Latvia’s increasing tensions with Russia owing to its membership in the EU and NATO. Latvia Defense Market Outlook, 2023-2028 ($ Billion) Buy the Full Report to...