Key Market Indicators
Japan's defense expenditure is projected to climb to approximately $47.9 billion by 2028, up from about $46.3 billion in 2023. This reflects an average annual growth rate of 0.5%. However, since 1965, Japan's defense spending has seen a year-on-year decline of 0.9%. In 2023, Japan ranked 10th in global defense spending. South Korea surpassed Japan with an identical expenditure of $46.3 billion. Leading the rankings were China, Russia, and India, occupying the second, third, and fourth spots respectively.
Latest reports
Japan Defense Market Report- Q4 2024
The fourth quarter of 2024 marked a significant period for the Japan defense market, driven by strategic initiatives and geopolitical imperatives. Japan's defense...
Japan Defense Market Report - Q4 2024
The fourth quarter of 2024 marks a period of strategic transformation and technological advancement in Japan's defense sector. The Japanese government has committed...
