Key Market Indicators
Italy's defense expenditure is projected to reach approximately $35.5 billion by 2028, marking a rise from around $33.8 billion in 2023. This increase represents an average annual growth rate of 0.8%. Since 1965, Italy's defense spending has grown at an annual rate of 3.6%, reflecting a sustained upward trend in military investment. In 2023, Italy ranked 12th globally in defense expenditure. Notably, Ukraine surpassed Italy in the same year with a defense budget of around $33.8 billion. Meanwhile, China, Russia, and India secured the 2nd, 3rd, and 4th spots in global defense spending rankings, respectively.
