Key Market Indicators
Indonesia's defense expenditure is projected to rise to approximately $9.7 billion by 2028, up from around $9.1 billion in 2023. This marks an average annual growth rate of 1% over the period. Since 1979, Indonesia's defense spending has seen a consistent increase, averaging a 4% year-on-year growth. In 2023, Indonesia ranked 23rd globally in defense expenditure, having been surpassed by Colombia, which also recorded spending of roughly $9.1 billion. In the global rankings for defense spending, China, Russia, and India occupied the second, third, and fourth positions, respectively.
Latest reports
Indonesia Defense Market Report- Q1 2025
In the first quarter of 2025, Indonesia's defense market is characterized by strategic international collaborations, significant technological advancements, and a strong focus on...
Indonesia Defense Market Report- Q4 2024
In the fourth quarter of 2024, Indonesia's defense sector experienced significant advancements and strategic shifts, driven by technological innovations, geopolitical influences, and economic...
Indonesia Defense Market Report - Q4 2024
The fourth quarter of 2024 marks a critical phase for Indonesia's defense landscape, characterized by significant advancements and strategic initiatives across various segments,...
