Singapore’s defense spending is projected to reach USD 19.7 billion by 2029, reflecting the country’s continued investment in advanced military technologies to maintain its security and operational readiness. According to a report by GlobalData, the government is prioritizing acquisitions such as F-35A/B multirole aircraft, Invincible-class (Type 218SG) submarines, Multi-Role Combat Vessels (MRCVs), and Hunter Armoured Fighting Vehicles to enhance its defense capabilities.
From 2020 to 2024, Singapore allocated an average of 3.5% of its GDP to defense, totaling USD 63 billion over five years. The country’s strategy focuses on leveraging technological advancements and international partnerships to compensate for its relatively modest military force. Singapore’s 2020 agreement with Lockheed Martin for 12 F-35B aircraft underscores its commitment to strengthening its air power, while its contract with Thyssenkrupp Marine Systems for four Invincible-class submarines aims to safeguard critical maritime trade routes, including the Straits of Singapore and Malacca.
Domestically, Singapore is working with ST Engineering to manufacture 580 next-generation armored fighting vehicles and six MRCVs, reinforcing its defense industry. The sustained increase in military spending is driven by regional security concerns, piracy threats in the Malacca Strait, and geopolitical tensions between major powers like the U.S. and China. Singapore’s investments in cutting-edge defense platforms highlight its long-term commitment to security and stability in Southeast Asia.
(Source: Army Technology)
