Thailand Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Thailand Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Summary

Thailand Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 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.

In 2023, the Thai government allocated $4.5 billion to its total defense budget, recording a CAGR of -2.2% during 2019–23. The country's defense budget is expected to grow at a CAGR of 5.8% over the forecast period, to reach $6 billion in 2028. The acquisition budget for 2023 is $1.3 billion and expected to be $1.9 billion in 2028, growing at a CAGR 11.1% over the forecast period. During the historic period (2019–23), Thailand spent $22.7 billion, whereas over the forecast period (2024–28) it is expected to spend $27 billion. The acquisition budget is primarily expected to increase due to the procurement of aircraft, submarines and naval vessels.

Key Highlights

• In 2023, the Thai government allocated $4.5 billion to its total defense budget, recording a CAGR of -2.2% during 2019–23. The country's defense budget is expected to grow at a CAGR of 5.8% over the forecast period, to reach $6 billion in 2028. The acquisition budget for 2023 is $1.3 billion and is expected to be $1.9 billion in 2028, growing at a CAGR 11.1% over the forecast period.
• Regional conflicts, such as disputes in the South China Sea, coupled with national strategic cultures that perceive military weakness as detrimental to national security, have driven the ongoing militarization of the Southeast Asia region. Military fixed-wing, Submarines and Artillery systems are the top three largest sectors within the Thailand defense market.

Who Should Buy

• 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.

Scope

This report offers detailed analysis of Thailand 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 -

• Thailand defense budget: detailed analysis of Thailand 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 Thailand military doctrine and strategy to provide a comprehensive overview of Thailand military procurement regulation.
• Security Environment: political alliances and perceived security threats to Thailand are examined; there help to explain trends in spending and modernisation.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Thailand'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 Thailand 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 Thailand 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