Key Market Indicators
New Zealand's defense expenditure is projected to climb to approximately $3.24 billion by 2028, up from $2.9 billion in 2023. This marks an average annual growth rate of 1.8%. Since 1965, New Zealand's defense budget has seen a consistent year-on-year increase of 4.7%. In the global rankings for defense spending in 2023, New Zealand placed 52nd. Azerbaijan has now overtaken New Zealand with a defense budget of $2.9 billion. Leading the global defense expenditure are China, Russia, and India, occupying the second, third, and fourth positions respectively.
