Key Market Indicators
Belgian defense expenditure is poised for a significant increase, projected to reach $7.3 billion by 2028. This marks a steady growth from the current $6.9 billion in 2023, averaging a 0.9% annual increase. Since 1965, Belgium's defense spending has seen a substantial rise, with demand jumping by 7.5% year on year. In the global ranking for 2023, Belgium holds the 30th position, having been overtaken by Sweden, which also reported a defense expenditure of $6.9 billion. The top spots in the defense expenditure rankings are occupied by China, Russia, and India, holding the second, third, and fourth positions, respectively.
