Brunei Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Brunei Defense Market Report Overview
The Brunei defense budget stands at $437.2 million in 2023 and is anticipated to register a CAGR of more than 1% during 2024-2028. The country’s defense expenditure is primarily driven by the territorial disputes in the South China Sea, the military modernization of the country’s armed forces, and the threat of terrorism.
Brunei Defense Market Outlook, 2023-2028 ($ Million)
Buy the Full Report to Gain More Information about the Brunei Defense Market Forecast
The Brunei defense market report provides a comprehensive understanding of the revenue growth through its market size forecasting up to 2028 and a historical overview of the country’s defense sector. The report has also analyzed budget allocations, key sectors, drivers, defense strategies, and market regulations. Furthermore, it gives an insight into the competitive landscape of the Brunei defense market through an overview of key acquisitions, fleet size, and market players details.
Market Size (2023) | $437.2 million |
CAGR (2024-2028) | >1% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Drivers | · Brunei’s Modernization Programs
· Territorial Disputes in the South China Sea · Threat of Terrorism |
Key Sectors | · Military Fixed Wing Aircraft
· EO/IR Systems |
Leading Companies | · Lockheed Martin
· Sikorsky Aircraft · Airbus Defence and Space |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Brunei Defense Market Drivers
Modernization programs in Brunei, territorial disputes in the South China Sea, and the threat of terrorism are the key factors driving Brunei’s defense market. Brunei’s need for the modernization of its defense forces is underscored by a combination of traditional and non-traditional security challenges. In the face of evolving geopolitical dynamics in Southeast Asia, the nation must ensure a balance of power and collaborate effectively with regional allies. The threat landscape has expanded to include non-traditional challenges such as terrorism and cyber-attacks, necessitating sophisticated and up-to-date defense equipment. Moreover, considering Brunei’s vulnerability to natural disasters, the modernization efforts should extend to enhancing capabilities for humanitarian assistance and disaster relief.
Brunei Military Doctrines and Defense Strategies
Brunei’s defense ministry is looking to upgrade its armed forces by utilizing new and advanced military technologies, increasing the quality of military training, and strengthening multilateral partnerships. Brunei’s Ministry of Defense is responsible for procuring all defense equipment and armaments for the armed forces. The procurement department within the Ministry of Defense procures and supplies all the necessary military equipment. The Centre of Science and Technology Research and Development (CSTRAD) and Royal Brunei Technical Services are responsible for the research and development, assessment, and selection of defense technology solutions for the armed forces. CSTRAD oversees Brunei’s defense modernization efforts, advises the Ministry of Defense on science and technology matters, and supervises the transparency and timeliness of the defense-related acquisition process.
Brunei Defense Market Segmentation by Sectors
The key sectors in the Brunei defense market are military fixed wing aircraft and EO/IR systems. In 2023, the military fixed wing sector ranked as the leading sector in the Bruneian defense market and is expected to continue doing so over the forecast period.
Brunei Defense Market Analysis by Sectors, 2023 (%)
Buy the Full Report for more Sector Insights into the Brunei Defense Market
Brunei Defense Market - Competitive Landscape
The leading defense companies operating in Brunei are Lockheed Martin, Sikorsky Aircraft, and Airbus Defence and Space. Lockheed Martin Corp (Lockheed Martin) is a manufacturer of security and aerospace products. The company is involved in research, design, development, manufacture, and integration of advanced technology systems, products, and services.
Brunei Defense Market Analysis by Companies
Buy the Full Report for more Company Insights into the Brunei Defense Market
Download a Free Report Sample
Segments Covered in the Report
Brunei Defense Market Sectors Outlook (Value, $ Million, 2019-2028)
- Military Fixed Wing Aircraft
- EO/IR Systems
Scope
The report provides:
- 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.
- Explanation of the procurement policy and process. This is coupled with an analysis of Brunei’s military doctrine and strategy to provide a comprehensive overview of Brunei’s military regulation.
- Examination of political alliances and perceived security threats to Brunei and explains trends in spending and modernization.
- Analysis of prevalent trends in the country’s imports and exports over the last five years.
- Analysis of the competitive landscape of Brunei’s defense industry.
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.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Brunei defense market over the next five years.
- Gain an in-depth understanding of 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 of 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 an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
Table of Contents
Frequently asked questions
-
What is the Brunei defense market size in 2023?
The defense market size in Brunei is $437.2 million in 2023.
-
What is the Brunei defense market growth rate?
The defense market in Brunei is expected to achieve a CAGR of more than 1% during 2024-2028.
-
Which is the leading sector in the Brunei defense market in 2023?
Military fixed wing aircraft is the leading sector in the Brunei defense market in 2023.
-
Who are the key companies operating in the Brunei defense market?
The key defense companies operating in Brunei are Lockheed Martin, Sikorsky Aircraft, and Airbus Defence and Space.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.