Global Defense Trends in 2024
Defense is part of Aerospace And Defense and includes a number of sub-sectors such as Weapon. You may also be interested in Aerospace.
Global defense expenditure is projected to surge to nearly $3 trillion by 2028, up from approximately $2.3 trillion in 2023. This represents an average annual growth rate of 3.7%. Since 1982, global defense spending has seen an average yearly increase of 5.3%. In 2023, the United States led the world in defense expenditure, allocating around $941 billion to its military budget. Following the U.S., China, Russia, and India ranked second, third, and fourth respectively in terms of defense spending. Notably, Ukraine experienced a significant rise in its defense budget, increasing by 56.2% year on year. In contrast, Venezuela's defense expenditure has plummeted by 58% annually since 1982.
Top 10 countries
In 2024 major markets in the Defense Industry were:
Defense Market Data and Forecasts
How much the Defense industry is expected to grow to 2028?
More in Defense Industry for 2028Global Defense Statistics
- Weapon Import 210 countries (Africa, Latin America, Sub-Saharan Africa...)
- Weapon Export 164 countries (Asia, Europe, Latin America...)
- Small Arms Import 167 countries (Latin America, Africa, Sub-Saharan Africa...)
- Defense Expenditure 189 countries (Europe, Africa, Sub-Saharan Africa...)
- Small Arms Export 106 countries (Europe, Southern Europe, Asia...)
- Gross Fixed Capital Formation 238 countries (Europe, Western Europe, Northern Europe...)
- Ammunition Import 156 countries (Africa, Latin America, Sub-Saharan Africa...)
- Vehicle Import 198 countries (Asia, Europe, Southeast Asia...)
- Number Of Enterprises 66 countries (Europe, Northern Europe, Southern Europe...)
- Warship Import 172 countries (Africa, Sub-Saharan Africa, Asia...)