Key Market Indicators
Ukraine's defense expenditure is projected to soar to $95 billion by 2028, up from $39 billion in 2023. This represents an impressive compound annual growth rate (CAGR) of 13.6%. Since 1997, Ukraine's defense spending has seen a significant increase of 56% year on year. In 2023, Ukraine ranked 11th globally in defense expenditure, with Japan slightly ahead at $39 billion. Leading the rankings were China, Russia, and India, holding the second, third, and fourth spots, respectively.
