News in Numbers
The US Department of Defense is seeking an additional $44bn supplementary budget for Ukraine military assistance support, as PDA funding dries up.
India has signed off on a $26.8bn defence deal in a boost to the Make in India initiative, intended to develop a viable indigenous defence industry to support its military.
The global military vehicle armour market is expected to show persistent growth over the next decade, rising from around $2bn in 2023 to reach $3.3bn in 2033.
Despite economic challenges and sustained inflation, the UK’s defence spending is forecast to grow from $66.3bn in 2024 to $80.4bn in 2028.
GlobalData forecasts 5.2% compound annual growth rate growth for China's expenditure on naval destroyers through 2033.