Key Market Indicators
Vietnam's defense expenditure is projected to rise to nearly $7.8 billion by 2028, up from approximately $6.6 billion in 2023. This represents an average annual growth rate of 2.6%. Since 1992, the country's defense spending has increased at an average rate of 3.8% per year. In the global rankings for 2023, Vietnam held the 32nd position in terms of defense expenditure. Iran edged out Vietnam with a defense budget also reported at around $6.6 billion for the same year. Leading the global rankings were China, Russia, and India, occupying the second, third, and fourth positions, respectively.
Latest reports
Vietnam Defense Market Report- Q4 2024
In the fourth quarter of 2024, the Vietnam defense market is undergoing significant transformations driven by increased defense expenditure, strategic international partnerships, and...
Vietnam Defense Market Report - Q4 2024
In Q4 2024, Vietnam's defense industry continues to evolve, driven by the integration of advanced technologies and international collaborations. The focus is on...
