Hungary Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029
Summary
Hungary Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029 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.
Over the historic period, Hungary’s defense expenditure surge was mainly driven by its need to counter potential threats from Russia and maintain its commitment to NATO. During 2020–24, while Hungary’s defense expenditure grew at a CAGR of 13.52% and reached $4.59 billion in 2024. In the context of Russian agreessionin Ukraine, the country passed an additional budgets with growing military spending levels, which will rise to $6.10 billion by 2029.
Key Highlights
Hungary’s defense expenditure recorded a CAGR of 13.52% between 2020 and 2024 and amounted to $4.59 billion in 2024. Over the forecast period, Hungary’s expenditure is expected to reach $6.10 billion in 2029, growing at a CAGR of 6.79%. Despite the contracting population, Hungary’s military modernization programs are not affected. It is expected to continue to invest in defense modernization and procurement plans. The acquisition budget is expected to grow from $2.24 billion in 2025 to $3.03 billion in 2029.
Hungary’s acquisition budget in 2024 is valued at $2.19 billion, which is significant owing to the need to finance its ongoing procurement programs.
The country has traditionally favored investments in developing a highly competent ground combat units. For this reason, Military land viechles is the largest sector in the Hungary defense market
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 Hungary 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 -
Hungary defense budget: detailed analysis of Hungary 2024 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 Hungary military doctrine and strategy to provide a comprehensive overview of Hungary military procurement regulation.
Security Environment: political alliances and perceived security threats to Hungary are examined; there help to explain trends in spending and modernisation.
Competitive landscape and strategic insights: analysis of the competitive landscape of Hungary's defense industry.
Reasons to Buy
Determine prospective investment areas based on a detailed trend analysis of the Hungary 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 Hungary 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 Hungary 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 Hungary 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
Executive Summary
Defense Budget Assessment
Budgeting Process
Defense Market Size Historic And Forecast
Drivers Of Defense Expenditure
Analysis of Defense Expenditure Allocation
Analysis Of Defense Budget Allocation
Key Market Trends and Insights
Military Doctrine And Security Environment
Military Doctrine And Strategy
Strategic Alliances and Geopolitics
Political, Social and Economic Scenario
Market Entry Strategy And Regulations
Defense Procurement Bodies
Funding Opportunities
Trade Associations and Defense Clusters
Types of Contracts and Opportunities
Types of European Procurement Procedure
Procurement Policy and Market Regulations
Market Entry Routes
Key Challenges
Major Deals and M&A
Market Attractiveness And Emerging Opportunities
Market Attractiveness By Defense Sector
Top Sectors in the Albania Defense Market
Top Defense Segments By Value
Defense Platforms Import and Export Dynamics
Defense Platform Import Dynamics
Defense Platform Export Dynamics
Defense Platform Acquisitions
Defense Platform Acquisitions By Value
Lynx KF41
H225M
National Advanced Surface-to-Air Missile System (NASAMS)