Published on 20 Mar 2024 on Insider Monkey via Yahoo Finance

15 Countries that will have the Most Powerful Militaries by 2030

In this article, we look at the 15 countries that will have the most powerful militaries by 2030. You can skip our detailed analysis on forecasted trends for the years ahead and head over directly to the 5 Countries that will have the Most Powerful Militaries by 2030.

Different parts of the world have been embroiled in conflict for the last several years now, but the return of war to Europe after decades of peace with Russia invading Ukraine in 2022, has rattled the global defense landscape like no other recent conflict. Defense spending reached an all-time of $2.2 trillion in 2022, as European countries scrapped to rack up their defenses, and allies led by the United States replenished Kyiv’s arsenal. Israel’s recent declaration of war against Hamas in the Gaza strip has also ensured that the defense industry remains in boom.

Lockheed Martin Corporation (NYSE:LMT) generated $67.6 billion in revenues in 2023, at an uptick of 2.4% from the previous year. Its net earnings have also risen to $6.9 billion from $5.7 billion in 2022. General Dynamics Corporation (NYSE:GD)’s numbers are soaring as well, with the company having registered its highest revenue in history of $42.3 billion, which was 7.3% higher YoY. Huntington Ingalls Industries, Inc. (NYSE:HII)’s net income in 2023 was also 18% higher compared to 2022.