Forecast: General Government Procurement on Defence in Belgium

The general government procurement on defense in Belgium has experienced fluctuations over the past decade. Between 2013 and 2023, the value ranged from a high of 1.50 in 2019 to a low of 1.12 in 2018. Notably, after a significant drop in 2016 by 17.52%, there was a sharp increase of 33.93% in 2019. Since then, the procurement value has largely stabilized around the 1.4 mark, with 1.41 being the value in 2023. Over the past five years, there has been an average yearly increase, or CAGR, of 4.71%, although the year-on-year growth has plateaued in 2023. Forecasts from 2024 onward predict a gradual increase, culminating at 1.45 by 2028, reflecting a modest five-year CAGR of 0.42%.

Future trends to watch for include:

• Potential policy changes influencing defense budgets.
• Geopolitical developments in Europe impacting defense procurement priorities.
• Technological advancements driving procurement of new defense systems.
• Fiscal policies and economic conditions affecting overall government spending on defense.