Global Defense Budget Estimated at USD 1.8 Trillion in 2020 and Is Forecast to Grow to Approximately 2.3 Trillion by 2028

Dublin, May 28, 2020 (GLOBE NEWSWIRE) -- The "Global Defense Budget Analysis - Forecast to 2028" report has been added to's offering.

The US Defense budget accounts for the majority of global defense spending. If the US Defense budget is treated as a country's GDP, it would rank amongst the top 25 GDPs in the world. The global defense market is also experiencing a rapid rise in spending from countries like China, Saudi Arabia and India. However, China who ranks second in the Global Defense Budget list, spends less than half of the defense budget of US. The top five countries accounted to more than 60% of the market, these countries are United States, China, India, Russia and Saudi Arabia.

The total Global Defense Budget is estimated at around USD 1.8 Trillion in 2020 and the market is expected to grow to around USD 2.3 Trillion by 2028. The CAGR of the market is accounted at around 2.72%. North America is expected to have the highest defense budget by the end of the forecast period. Land Forces are expected to be the largest department by the end of the forecast period while Defense Personnel is expected to be the largest segment by end allotment.

The report provides a clear understanding on:

  • The key drivers, restraints and challenges which are expected to shape the Global Defense Budget are covered in detail in the report.
  • The top twenty countries have been analyzed in detail with respect to their military budget, military size, and upcoming procurement programs.
  • A PEST analysis of the Global Defense Budget has been covered in the report.
  • The high growth markets have been identified in the Opportunity Analysis Chapter.
  • The market forecast from 2020- 2028 considering all the factor, which is expected to impact the market.
  • The Scenario Analysis Chapter covers the key scenarios and its impacts on the forecast chapter.
  • The impact of Coronavirus has been dealt in detailed across the Global economies.

The market is segmented based on End Allotment, Region, and Department:

Key report benefits:

  • The report can be used by new players and potential entrants in the defense industry to gain competitive insights on the Global Defense Budget.
  • The report helps to analyze the key historical trends of global military spending as well as the factors which are expected to shape upcoming trends in the future.
  • The dynamics which influence global defense spending, which include the Key Drivers, Restraints and Challenges of the Global Defense Budget, are included in this report.
  • The marketing and sales team of companies in the defense sector can use this report to formulate their medium- and long-term strategies and to reconfirm their short-term plans.
  • The sales team can use the Market Forecast Chapter to formulate their medium-term sales plan.
  • The sales and marketing team can use the country analysis chapter to identify trends and opportunities in the top defense spending countries.
  • The key hot spots within the Global Defense Spending can be identified by analyzing the Opportunity Analysis Chapter.
  • Various scenarios that could affect the Global Defense Spending are analyzed in this chapter such as the outbreak of infectious diseases recently.
  • The possible impact of the Covid-19 outbreak on the Global Defense Budget has been analyzed in the report.
  • The company profiles include financials, latest news, contracts, strategic alliances, and SWOT for the top 10 companies in the global defense sector.

Key Topics Covered:

1 Introduction

2 Executive Summary

3 Current Market Overview of the Global Defense Budget

4 Market Trends


6 Market Dynamics

7 Country Analysis

8 Global Defense Budget to 2028 By Department

9 Global Defense Budget to 2028 By End Allotment

10 Global Defense Budget to 2028 By Region

11 Scenario Analysis

12 Opportunity Analysis

13 Coronavirus impact on Global Defense Budget

14 Company Profiling

15 Strategic Conclusions

Companies Mentioned

  • Airbus
  • Almaz Ante
  • BAE Systems
  • Boeing
  • General Dynamics
  • Leonardo S.p.A.
  • Lockheed Martin
  • Northrop Grumman
  • Raytheon
  • Thales Group

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