Key Market Indicators
Lebanese defense expenditure is projected to reach approximately $3.87 billion by 2028, up from around $3.18 billion in 2023. This marks an average annual growth rate of 3.1%. Since 1965, Lebanon's defense spending has seen a steady increase, growing at an average annual rate of 2.8%. In 2023, Lebanon ranked 49th globally in terms of defense expenditure. Nigeria slightly outpaced Lebanon with a defense budget of around $3.18 billion. Meanwhile, China, Russia, and India held the second, third, and fourth spots, respectively, in global defense spending rankings.
