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

'Japan 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.

Over the historic period, Japan's defense expenditure surge was mainly driven by its need to counter potential threats from China, the Democratic Peoples Republic of Korea (DPRK) or North Korea. During 2019-23, while Japan's defense expenditure grew at a CAGR of 2.1% and reached $50 billion in 2023, the country unveiled a “Defense-Strengthening Acceleration Package' in 2020, which saw the disbursement of additional funding for the defense sector in the form of the supplementary budget. Even with the outbreak of Covid-19, the country passed an additional supplementary budget of $3.6 billion, over and above the total budget of $47.5 billion previously allotted, the entire additional funding being earmarked for acquisitions.

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

Key Highlights

• Japan's defense expenditure recorded a CAGR of 2.1% between 2019 and 2023 and amounted to $50 billion in 2023. Over the forecast period, Japan's expenditure is expected to reach $85.9 billion in 2028, growing at a CAGR of 5.1%. Despite the contracting economy, Japan'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 $42.8 billion in 2024 to $53.8 billion in 2028
• Japan's acquisition budget in 2023 is valued at $33.4 billion, which is significant owing to the need to finance its ongoing procurement programs. The government has removed the 1% GDP cap over its defense spending and invested in the sector to meet the dynamic security challenges posed by China and North Korea. This would mean that the country would not be restricted to expand and grow militarily powerful
• The country has traditionally favored investments in developing a highly competent air-combat wing and has typically preferred single-engine multi-role fighter aircraft. Military fixed wing is the largest sector in the Japanese defense market followed by naval vessels and surface combatants and military rotorcraft

Scope

This report offers detailed analysis of Japan 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:

• Japan defense budget: detailed analysis of Japan 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 Japan military doctrine and strategy to provide a comprehensive overview of Japan military procurement regulation
• Security Environment: political alliances and perceived security threats to Japan are examined; there help to explain trends in spending and modernisation
• Competitive landscape and strategic insights: analysis of the competitive landscape of Japan's defense industry

Reasons to Buy

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