Driven by the requirement to expand maritime surveillance and tactical airlift competence, New Zealand’s defense budget is set to grow at a compound annual growth rate (CAGR) of 1.76% from US$2.9bn in 2021 to US$3.3bn in 2026, according to GlobalData, a leading data and analytics company.
GlobalData’s report, ‘New Zealand Defense Market – Attractiveness, Competitive Landscape and Forecasts to 2026’, reveals that the country’s capital defense budget accounted for 27.2% of the country’s total defense budget in 2021, an increase of 5.6% from 2020.
Rouble, Aerospace & Defense Analyst at GlobalData, comments: “New Zealand has no tangible military threats to worry about. Therefore, its …
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