Hungary Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029

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