Key Market Indicators
Israeli defense spending is projected to hit $28.6 billion by 2028, up from $24.6 billion in 2023. This marks an average annual growth rate of 2.4%, according to recent data. Since 1965, Israel's defense expenditure has grown at an average annual rate of 4.4%. In 2023, Israel ranked 15th globally in defense spending, a position overtaken by Canada with an expenditure matching Israel's $24.6 billion. In the global rankings, China, Russia, and India secured the second, third, and fourth spots, respectively.
