How big is the Japan Defense Market?

The Japan Defense Market size is expected to reach USD 48.10 billion in 2024 and grow at a CAGR of 3.40% to reach USD 56.85 billion by 2029. Read More

What is the current Japan Defense Market size?

In 2024, the Japan Defense Market size is expected to reach USD 48.10 billion. Read More

Who are the key players in Japan Defense Market?

Kawasaki Heavy Industries, Ltd., Mitsubishi Heavy Industries, Ltd., ShinMaywa Industries, Ltd., The Japan Steel Works, Ltd. and Toshiba Corporation are the major companies operating in the Japan Defense Market. Read More

What years does this Japan Defense Market cover, and what was the market size in 2023?

In 2023, the Japan Defense Market size was estimated at USD 46.46 billion. The report covers the Japan Defense Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Defense Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Japan Defense Market Share

Statistics for the 2023 & 2024 Japan Defense market share, created by Mordor Intelligence™ Industry Reports. Japan Defense share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Japan Defense Industry

The Japan defense market is semi-consolidated in nature, with the presence of a few prominent players in the market, including Kawasaki Heavy Industries, Ltd., Mitsubishi Heavy Industries, Ltd., ShinMaywa Industries, Ltd, Japan Steel Works Ltd, and Toshiba Corporation.

Despite a strong local manufacturing base, players in the country are currently facing stiff competition from their foreign counterparts for growing their businesses, especially from players from North America and Europe, even with a greater focus on local production and measures like the relaxation of Japan’s self-imposed arms export ban policy. In this regard, local defense giants are undertaking various initiatives and investing in the R&D of new defense systems to produce sophisticated products, thereby enhancing their competitiveness in the market.

Japan has adopted new principles and guidelines on arms exports and would permit arms exports to a country only if they serve the purpose of contributing to international cooperation and its security interests. According to the 2022 defense white paper, nearly 1,100 companies are involved in the manufacture of fighter aircraft, about 8,300 in building destroyers, and around 1,300 in the production of tanks.

Growing support for local aerospace and defense manufacturers and rising investment in research and development boost the market growth during the forecast period. For instance, the Japanese Ministry of Defense (MoD) secured USD 6.23 billion for ammunition-related spending, which is 330% higher than in 2022. It included USD 1.59 billion for the procurement of 500 US-made long-range Tomahawk cruise missiles. The Japanese MoD will deploy the Tomahawks in fiscal year 2026-27 as it aims to develop counterstrike capabilities. Tokyo will acquire the advanced model Tomahawk Block V to be equipped with Japan Maritime Self-Defense Force (JMSDF) Aegis-equipped destroyers.