Key Market Indicators
Pakistan's defense expenditure is projected to rise to approximately $11.5 billion by 2028, up from around $10.5 billion in 2023. This marks an average annual growth rate of 1.4%. Historically, since 1965, Pakistan's defense spending has seen a yearly decline of 2.1%. In 2023, Pakistan ranked 21st globally in defense expenditure, with Singapore slightly ahead at the same spending level of $10.5 billion. China, Russia, and India occupied the second, third, and fourth positions respectively in the global defense spending rankings.
