Japan’s defence spending is set to grow from $48.4bn to $70.4bn in 2027, driven by the need to develop its own defence posture, forecasts GlobalData.
GlobalData’s latest report, “Japan defence Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2027,” reveals that Japan’s defence spending is anticipated to grow at a compound annual growth rate of 8.4% during 2022-2027.
Japan; Defense budget estimated to grow to $70bn in 2027