Brunei Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2027

Brunei Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2027

Summary

Brunei Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2022-2027 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Brunei's defense spending stands at $448.6 million in 2022 and is projected to register a CAGR of 2.4% to reach $518.8 million by 2027. The country's defense expenditure is primarily driven by the territorial disputes in the South China Sea, the military modernization of the country’s armed forces, and the threat of terrorism. The country's defense budget as a percentage of GDP is expected to register an average of 3.2% over the forecast period.

This report offers detailed analysis of the Brunei defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

Key Highlights

• Brunei's defense expenditure grew from $365.3 million in 2018 to $448.6 million in 2022, reflecting a CAGR of 5.3% during 2018-22. The spurt in growth is primarily attributed to the sudden acceleration in defense spending in 2019, which was valued at $432.4 million. This is an annual growth of 18.4% over the previous year (2018), when the budget was valued at $365.3 million. The sudden outbreak of COVID-19 has affected the economy, compelling it to marginally decrease the acquisition budget from $129 million in 2021 to a value of $102.6 million in 2022.
• The issue over the disputed islands is unlikely to be settled in the near future, so Brunei is expected to procure maritime patrol aircraft, maritime radars, fast patrol boats, ground-based air defense, and other equipment to strengthen its armed forces.
• As the Bruneian defense industry is expected to register steady growth over the next five years due to the rise of both external and internal security threats, Brunei is expected to offer a decent market for defense suppliers. Sectors such as military fixed-wing, body armor and personnel protection, and ammunition rank among the leading sectors in the Brunei defense market.

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

• Brunei defense budget: detailed analysis of the Brunei 2022 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of the Brunei military doctrine and strategy to provide a comprehensive overview of Brunei military regulation.
• Security Environment: political alliances and perceived security threats to Brunei are examined; there help to explain trends in spending and modernization.
• Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
• Competitive landscape and strategic insights: analysis of the competitive landscape of Brunei's defense industry.

• Determine prospective investment areas based on a detailed trend analysis of the Brunei defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Brunei market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Brunei defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Brunei government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available