Key Market Indicators
By 2028, Slovakia’s defense expenditure is projected to decrease to approximately $1.58 billion, down from $1.92 billion in 2023. This represents a 3.1% year-on-year compound annual growth rate (CAGR) decline. Despite this decrease, Slovakia has experienced a significant rise in defense spending over the years. Since 1998, the country’s demand for defense expenditure has increased by an average of 8.2% annually. In 2023, Slovakia was ranked 59th in global defense spending. Lithuania slightly outpaced Slovakia with its own defense budget standing at $1.92 billion. The top three countries in this ranking were China, Russia, and India, occupying the second, third, and fourth positions respectively.
