Key Market Indicators
Kuwaiti defense expenditure is projected to climb to approximately $8.6 billion by 2028, up from around $8.3 billion in 2023, marking an average annual growth of 0.5%. Historical data since 1977 shows a consistent increase in Kuwait’s defense spending, with an average yearly growth rate of 3%. In 2023, Kuwait ranked 27th globally in terms of defense expenditure. Norway edged ahead with a slightly higher defense budget of $8.3 billion. Globally, China, Russia, and India held the second, third, and fourth positions, respectively, in defense spending for the same year.
