Key Market Indicators
China's defense expenditure is projected to hit $382 billion by 2028, rising from approximately $309 billion in 2023. This reflects an annual compound growth rate of 3.4%. Since 1994, China's defense spending has seen a consistent increase, averaging a 5.9% rise each year. In 2023, the nation secured the second spot in global defense spending, trailing only the United States, which led with an identical figure of around $309 billion. Following China in the rankings are Russia and India, occupying the third and fourth positions, respectively.
Latest reports
China Defense Market Report- Q1 2025
In the first quarter of 2025, China's defense market has experienced significant developments, driven by strategic realignments in response to escalating geopolitical tensions....
China Defense Market Report- Q4 2024
In the fourth quarter of 2024, China's defense market witnessed significant advancements and strategic developments across various sectors. Key areas of growth included...
China Defense Market Report - Q4 2024
The fourth quarter of 2024 marks a significant period for China's defense market, characterized by strategic advancements and geopolitical maneuvering. As China continues...
