Key Market Indicators
Zambian defense expenditure is projected to reach approximately $337 million by 2028, up from around $327 million in 2023. This reflects a modest compound annual growth rate (CAGR) of 0.4%. Since 1989, Zambia's defense spending demand has declined by an average of 2.8% per year. In 2023, the country ranked 103rd globally in defense expenditure, with Chad surpassing it at the same spending level of $327 million. Meanwhile, China, Russia, and India occupied the second, third, and fourth positions, respectively, in global defense spending rankings.
