China Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

China Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Summary

China Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Chinese defense expenditure recorded a CAGR of 7.5% during 2019-23 and stood at $230.3 billion in 2023. Over 2024-28, it is forecast to register a CAGR of 6.6% to value $323.7 billion in 2028. Territorial claims in the South China Sea and the increasing strength and assertiveness of the US have spurred the Chinese government to enhance its military capabilities. In order to achieve this, the Chinese Department of National Defense is expected to spend $1.4 trillion over 2024-28 on the procurement of military hardware and the modernization of its armed forces. The consequent demand for defense equipment will revolve around fighter and multirole aircraft, corvettes, infrastructure construction, submarines, naval vessels, and surveillance equipment.

As a percentage of GDP, the country's defense expenditure is expected to average 1.8% over 2024-28, compared to the 1.6% recorded during 2019-23. During 2019-23, the Chinese government allocated an average of 43.6% of its defense budget to acquisition expenditure, which includes both the purchase of new equipment and upgrade programs for existing equipment. The rest of the budget was allocated to other expenditures, which include salaries, planning, administration, and training expenditures. On a cumulative basis, China allocated $441.8 billion to acquisition expenditure during 2019-23, which is anticipated to value $651.5 billion over 2024-28. Acquisition expenditure is anticipated to increase at a CAGR of 7.3% over 2024-28.

Key Highlights

• Drivers of Defense expenditure include Military moderniz, Tension in the South China SeaTension in the South China Sea
• Major ongoing procurement program include procurement of HQ-19, J-20 Black Eagle, Tang-class

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers detailed analysis of China defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following:

China defense budget: detailed analysis of China 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.

Regulation: the procurement policy and process is explained. This is coupled with an analysis of China military doctrine and strategy to provide a comprehensive overview of China military procurement regulation.

Security Environment: political alliances and perceived security threats to China are examined; there help to explain trends in spending and modernisation.

Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years

Competitive landscape and strategic insights: analysis of the competitive landscape of China's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the China defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the French market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the China defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the China government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available