Key Market Indicators
Australia's weapon export industry is projected to hit approximately $139 million by 2028, up from around $134 million in 2023. This reflects an average annual growth rate of 0.5%. Notably, since 1974, the nation's supply of weapons has surged by 28% annually. On the other hand, Australia's weapon import is expected to climb to nearly $1.35 billion by 2028, rising from about $1.26 billion in 2023, marking an average yearly growth rate of 1.2%. However, it is important to note that since 1965, Australian demand for imported weapons has decreased by 4.5% each year. In 2023, Australia ranked seventh in global weapon imports, having been overtaken by Japan, which matched Australia's import value of approximately $1.26 billion. Qatar, Saudi Arabia, and Kuwait held the second, third, and fourth spots respectively in this ranking.
