The current study focuses on the Estonian perceptions of security and on the defence situation both globally and locally. The dynamic results of the public opinion surveys on security risks conducted in Estonia over the last 10 years (2006-2016) will be presented. In addition, to understand whether some of the security risks could be over- or underestimated in Estonia, these results will be compared with the views expressed recently by the World Economic Forum, particularly the Global Risks Report 2016. Also, the arguments why some topics have played or are currently playing key role in the Estonian security perception will be presented and discussed.