Brunei Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

Brunei Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

Summary

Brunei Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028, 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 $437.2 million in 2023 and is projected to register a CAGR of 1.7% to reach $486.2 million by 2028. 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 3.1% over the forecast period. Due to the presence of extensive resources of oil and gas and a small population, Brunei is among the world's richer countries per capita. The oil and gas sector dominates the economy and generates the bulk of export earnings and government revenues. The country's oil and gas industry has dominated the economy for the past 80 years and generates over 90% of Brunei's exports and more than 50% of its GDP.

Key Highlights

The country's defense budget is anticipated to increase from $453.8 million in 2024 to $486.2 million in 2028, reflecting a CAGR of 1.7%. Brunei's acquisition budget is also anticipated to grow from $132.9 million in 2024 to $142.8 million in 2028, reflecting a CAGR of 1.8%.

Brunei is expected to offer a decent market for defense suppliers. Sectors such as military fixed-wing and EO/IR Systems rank among the leading sectors in the Brunei defense market.

Scope

• This report offers a 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.
• In particular, it provides an in-depth analysis of the following:
• Brunei defense budget: detailed analysis of Brunei's 2023 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 Brunei's military doctrine and strategy to provide a comprehensive overview of Brunei's military procurement regulation.
• Security Environment: political alliances and perceived security threats to Brunei are examined; they help to explain trends in spending and modernisation.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Brunei's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the French 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 French 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