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Global Defense Spending Expected To Continue Rising Through 2023, Deloitte Says

By Cal Biesecker

Tuesday, December 3rd, 2019

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Global Defense Spending Expected To Continue Rising Through 2023, Deloitte Says

Lockheed Martin-built F-35. (Photo: Lockheed Martin)

Global defense spending is expected to increase between 3 and 4 percent in 2020 and about 3 percent annually between 2019 and 2023, according to a new report from the audit and consulting firm Deloitte. “Demand for military equipment is on the rise as governments across the globe focus on military modernization, given increasing global security concerns,” says the report, 2020 Global Aerospace and Defense Industry Outlook. “The uncertainty and sustained complexity of the international security environment worldwide is likely…

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