Key Market Indicators
Estonian defense expenditure is projected to surge to approximately $1 billion by 2028, marking a significant increase from the $843 million allocated in 2023. This growth represents an average annual increase of 2.7%. Since 1998, Estonia has consistently boosted its defense budget, with demand rising by an average of 6.5% each year. In the 2023 rankings, Estonia placed 76th, with Tanzania narrowly ahead at $843 million. Globally, China, Russia, and India secured the second, third, and fourth positions in defense spending, respectively.
