Key Market Indicators
Chinese weapon exports are projected to hit approximately $2 billion by 2028, up from around $1.8 billion in 2023. This growth represents an average annual increase of 1.6%. Since 1965, China's supply of weapons has risen by an average of 5.8% per year. On the import side, Chinese weapon imports are expected to drop to about $630 million by 2028 from approximately $780 million in 2023. This decline averages 3.3% annually. Historically, China's demand for imported weapons has decreased by 18.2% each year since 1965. In 2023, China ranked 11th in weapon imports, overtaken by Norway, which also reported imports of around $780 million. Qatar, Saudi Arabia, and Kuwait held the second, third, and fourth positions, respectively, in the global ranking for weapon imports.
