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

Lithuania’s defense budget is forecast to grow to $2.8 billion in 2029, from $2.1 billion in 2024. This follows ongoing historical growth, with the defense budget registering a positive CAGR of 16.2% between 2020 and 2024. The acquisition budget is also forecast to grow over the next five years, with a predicted increase of 3.7%, increasing from $477 million to $552 million by 2029, providing the country with increased acquisition capabilities.

The overall budget spending is increasing over the next five years in part due to modernization commitments by the Lithuanian government and additional threats, including the conflict in Ukraine, have heightened the need for increased military spending. The Lithuanian military is pursuing a number of programs, including the acquisition of armored vehicles, M142 HIMARS, and Black Hawk helicopters to provide it with more modern capabilities.

Key Highlights

• Modernization of armed forces and Russia’s invasion of Ukraine to spur defense spending technology and rearmament
• Major ongoing procurement program include procurement of Vilkas IFV, UH-60M Black Hawks, and CAESAR New-Generation Mark II 155mm

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 Lithuania 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

• Lithuania defense budget: detailed analysis of Lithuania 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 Lithuania military doctrine and strategy to provide a comprehensive overview of Lithuania s military procurement regulation.
• Security Environment: political alliances and perceived security threats to United States 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 Lithuania defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Lithuania 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 Lithuania 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 Lithuania 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 Lithuania 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