Key Market Indicators
Lithuania's defense expenditure is projected to soar to nearly $3.2 billion by 2028, climbing from approximately $2 billion in 2023. This represents an average annual growth rate of 7.5%. Since 1997, the demand for defense spending in Lithuania has surged by an average of 13.4% each year. In the global rankings for 2023, Lithuania held the 58th position. Jordan narrowly outspent Lithuania with a defense budget also around $2 billion. Topping the list were China, Russia, and India, occupying the second, third, and fourth spots respectively.
