Hungary defence industry set to be among region’s best by 2030
The Hungarian government aims to make the country’s defence industry one of the best in the region by 2030, the minister for technology and industry told an international conference in Budapest on Wednesday.
Hungary aims to become a key defence industry hub in central Europe in terms of manufacturing and research and development, László Palkovics told the Global Special Operations Forces (GSOF) Symposium Europe conference.
The government’s goal is for the size of the defence industry to reach 500 billion forints (EUR 1.2bn) by 2030, Palkovics said. The industry must also become self-sufficient so that it is capable of supplying the military, he added. It should also be successful abroad by joining international supply chains with competitive products, he said.

Read also PHOTO GALLERY: international military exercise started in Hungary
The minister highlighted the Zrínyi 2026 defence development scheme as the start of the rebuild of the country’s defence industry.
Hungary currently spends 1.2 percent of its GDP on defence compared with the global ratio of over 2 percent, Palkovics said.
High-tech fields make up 70 percent of Hungary’s industry, he said, adding that the country’s geographical location was also favourable from a logistical standpoint.

Read alsoHungarian army unit sets off for Iraq
Source: MTI
please make a donation here
Hot news
Government to extend mandatory discounts, deposit rate caps
What happened today in Hungary? – 25 September, 2023
PHOTO: President Novák meets Elon Musk in Texas
Here is the third-way alternative in Hungarian politics
The victory of Pákozd – a symbol of Hungary’s independence war
Hungarian minister shared how the EU’s competitiveness can be improved