Key Market Indicators
Portuguese defense expenditure is slated to reach approximately $3.78 billion by 2028, up from around $3.59 billion in 2023. This represents a compound annual growth rate (CAGR) of 0.8%. Since 1965, the nation's military spending has increased by an average of 2% per year. In 2023, Portugal ranked 47th in global defense expenditure. Austria surpassed Portugal with a similar figure of $3.59 billion. Leading the rankings, China, Russia, and India occupied the second, third, and fourth positions respectively in terms of defense spending.
