Philippines Launches “Re-Horizon 3” to Boost Defense Modernization

Jun 2024

The Philippines has launched the “Re-Horizon 3” military modernization initiative to strengthen its defense capabilities. Despite financial constraints, the country aims to increase defense expenditure to USD 6.2 billion by 2029, focusing on maritime and air defense.

GlobalData’s report, “Philippines Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2024–29,” projects defense acquisition expenditure to grow at a 4.9% CAGR from 2025-29, with overall defense spending growing at a 6.2% CAGR. The PHP 2 trillion (USD 35 billion) “Re-Horizon 3” initiative will phase out obsolete weaponry in favor of modern acquisitions over the next decade.

Rouble, Aerospace & Defense Analyst at GlobalData, highlighted the economic challenges but emphasized the commitment to strengthening the military. Key acquisitions include Wonhae-class Offshore Patrol Vessels, missile corvettes, fast attack interdiction boats, and S-70 Black Hawk helicopters, enhancing maritime security and rapid response capabilities.

The initiative underscores the Philippines’ determination to safeguard its interests and maintain a robust defense posture amid regional complexities. As part of the Luzon Economic Corridor, the “Re-Horizon 3” initiative is expected to significantly contribute to the nation’s defense capabilities, promoting stability and economic growth. This strategic move highlights the Philippines’ ongoing efforts to strengthen its defense infrastructure and ensure national security.

(Source: Asia Pacific Defence Reporter)

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