Vietnam Defense Market

GlobalData’s Vietnam Defense Market -2022 Free Report offers the reader a detailed analysis of Vietnam’s defense budget with market size forecasts covering the next five years. This report will also analyze factors that drive defense expenditure in the country

In particular, it provides an in-depth analysis of the following:

• Market size: A detailed analysis of the budget allocation along with budget forecasts over the period 2018-27. The report also provides breakdown of the defense budget in form of Acquisitions, and Others in both US Dollars ($) and Vietnamese dollar (VND), and also offers a breakdown of the budget
• Market drivers: The report also provides an analysis of the forces driving the Vietnam defense. It also gives a purview of procurement decisions in the context of the threat scenario

Key findings include:

• Drivers of Defense expenditure include dispute in South China sea and military modernization
• Vietnam defense expenditure increased from $4.9 billion in 2018 to $5.8 billion in 2022, reflecting a negative CAGR of 4.5% during 2018–22
• The country's military modernization efforts are focused on preventing China from taking hold of disputed territory in the South China Sea. Over the forecast period, the country is expected to procure fighter and multirole aircraft, armored vehicles, naval vessels, patrol ships, maritime patrol aircraft, and surveillance equipment
• Vietnam’s defense expenditure is projected to grow at a CAGR of 8.5% to value $8.5 billion by 2027