2023: A Good Year for Domestic Defence Industry?

DEFEND ID, Indonesia’s defence industry holding, has been established to support the domestic defence industry and its modernisation. Back in 2022, the holding company and its subsidiaries secured several Memorandums of Understanding (MoU), mainly during the Indo Defence exhibition. While it provides opportunities for the domestic defence industry, will the latter be able to capitalise and increase its profits in 2023, despite budget uncertainties for defence equipment procurement?