Key Market Indicators
Saudi Arabia’s defense expenditure is projected to hit approximately $81 billion by 2028, marking a steady annual growth rate of 1% from its current budget of around $76 billion in 2023. This upward trend has been consistent since 1965, with an average annual increase of 0.4%. In the global ranking for defense spending in 2023, Saudi Arabia secured the fifth position. India surpassed Saudi Arabia with an equivalent budget of roughly $76 billion, moving ahead in the rankings. The top positions were held by China, Russia, and India, occupying the second, third, and fourth spots respectively.
Latest reports
Saudi Arabia Defense Market Report- Q4 2024
In the final quarter of 2024, the defense market in Saudi Arabia demonstrated robust growth and strategic advancements, closely aligned with the Kingdom's...
