Thailand 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.

Thailand Defense Market Report Overview

The Thailand defense budget is worth $4.5 billion in 2023, and, is anticipated to register a CAGR of more than 5% during 2024-2028. The acquisition budget is primarily expected to increase due to the procurement of aircraft, submarines, and naval vessels.

The protection of vital infrastructure and securing maritime borders are expected to accelerate the country’s future defense expenditure.

Thailand Defense Market Outlook, 2023-2028 ($ Billion)

Thailand Defense Market Outlook, 2023-2028 ($ Billion)

Maritime security is one of the biggest concerns for all coastal states, with sea lanes serving as a lifeline in terms of global trade.

>>> Get | Download Sample Report to know more about Thailand defense market forecast@ –

https://www.globaldata.com/store/talk-to-us/?report=3068004

The Thailand defense budget market research report provides the market size forecast and the projected growth rate for the next five years. It also covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Defense Budget (2023) $4.5 Billion
CAGR (2024-2028) >5%
Forecast Period 2024-2028
Historical Period 2019-2023
Key Segment ·       Submarines

·       Military Fixed-Wing Aircraft

·       Naval Vessels and Surface Combatants

·       Tactical Communications Systems

·       EO/IR Systems

·       Military Radar

·       Electronic Warfare Systems

·       Underwater Warfare Systems

·       INS GNSS

Leading Companies ·       Elbit Systems Ltd

·       Textron Aviation Inc.

·       Elbit Systems Ltd

·       The Boeing Co

·       Tata Motors Ltd

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.

Thailand Defense Market Drivers

Spending on modernization programs owing to factors such as regional conflicts propels the spending on the defense sector in Thailand. This includes disputes in the South China Sea. In addition, national strategic cultures perceive military weakness as detrimental to national security. Such factors have driven the ongoing militarization of the Southeast Asia region. Moreover, the protection of vital infrastructure and securing maritime borders are expected to drive the country’s future defense expenditure.

Thailand Military Doctrines and Defense Strategies

The security sector has played a foundational role in Thailand’s development. Core security actors are spearheaded by the Royal Thai Armed Forces (RTARF). Thailand’s comprehensive military doctrine focuses on a broad array of security concerns and the deployment of robust military capabilities. The current military-controlled government has prioritized policies to boost consumption and investment, including increased public spending on defense and infrastructure, and has gradually made the regulatory framework more efficient and transparent to attract investment and better integrate the economy into the global marketplace.

The Thai military and defense agencies set the agenda for the National Security Strategy, which primarily focuses on purchases of military equipment to modernize and upgrade military capability. Following two visits of senior Thai military government officials to the US in late 2017 and early 2018, prospects relating to further equipment acquisition are likely, as the two countries share a cooperative military relationship.

Thailand Defense Market Segmentation by Segment

Missile and missile defense systems and naval engines are the fastest growing sector within the Thailand defense market.

The key segment in the Thailand defense market are submarines, military fixed-wing aircraft, naval vessels and surface combatants, tactical communications systems, EO/IR Systems, military radar, electronic warfare systems, underwater warfare systems, and INS GNSS among others. Military fixed-wing aircraft is the largest segment within the Thailand defense market in 2023. Multirole aircraft is ranked as the leading sub-sector within military fixed-wing over the period 2023–28. Training and light attack aircraft is ranked as the second largest sub-sector.

Thailand Defense Market Analysis by Segment, 2023 (%)

Thailand Defense Market Analysis by Segment, 2023 (%)

For more segment insights into the Thailand defense market, download a free report sample

Thailand Defense Market - Competitive Landscape

The Royal Thai Navy’s High-Performance Frigate Boat Project has its first ship with this vessel. It is capable of carrying out 3D combat operations on land, sea, and in the air.

Some of the leading defense companies operating in Thailand are Elbit Systems Ltd, Textron Aviation Inc., Elbit Systems Ltd, The Boeing Co, and Tata Motors Ltd among others. Thailand decided in 2015 to acquire three S26T diesel-electric submarines, an export version of the Type 039A, or Yuan-class. The contract for the first boat was signed in 2017 by the military government in power at that time, with delivery expected in 2024.

Thailand Defense Market Analysis by Players, 2023 (%)

Thailand Defense Market Analysis by Players, 2023 (%)

For more players’ insights into the Thailand defense market, download a free report sample

Segments Covered in the Report

Thailand Defense Segment Outlook (Value, $ Billion, 2019-2028)

  • Submarines
  • Military Fixed-Wing Aircraft
  • Naval Vessels and Surface Combatants
  • Tactical Communications Systems
  • EO/IR Systems
  • Military Radar
  • Electronic Warfare Systems
  • Underwater Warfare Systems
  • INS GNSS

Scope

The report provides:

  • Detailed analysis of Thailand’s defense market with market size forecasts covering the next five years. The report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.
  • Detailed analysis of the Thailand 2023 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 coupled with an analysis of Thailand military doctrine and strategy to provide a comprehensive overview of Thailand’s military procurement regulation.
  • Examination of political alliances and perceived security threats to Thailand and how they help to explain 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 Thailand’s defense industry.

Reasons to Buy

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

To know about our Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at GlobalData.

Lockheed Martin
Hanwha Ocean
Elbit Systems

Table of Contents

  • 1. Executive Summary
  • 2. Defense Budget Assessment

    • 2.1. Budgeting Process
    • 2.2. Defense Market Size Historical And Forecast
    • 2.3. Drivers Of Defense Expenditure
    • 2.4. Analysis of Defense Expenditure Allocation
    • 2.5. Analysis Of Defense Budget Allocation

  • 3. Military Doctrine And Security Environment

    • 3.1. Military Doctrine And Strategy
    • 3.2. Strategic Alliances and Geopolitics
    • 3.3. Political, Social, and Economic Scenario

  • 4. Market Entry Strategy And Regulations

    • 4.1. Procurement Policy and Market Regulations
    • 4.2. Market Entry Routes
    • 4.3. Funding Opportunities
    • 4.4. Key Challenges
    • 4.5. Major Deals and M&A

  • 5. Market Attractiveness And Emerging Opportunities

    • 5.1. Market Attractiveness
    • 5.2. Top Sectors in the Thailand Defense Market
    • 5.3. Top Defense Segments By Value

  • 6. Defense Platform Acquisitions

    • 6.1. Defense Platform Acquisitions By Value
    • 6.2. Global Combat Air Programme
    • 6.3. S26T Class (Yuan-class)
    • 6.4. Bhumibol Adulyadej-class
    • 6.5. M758 ATMG Systems
    • 6.6. D-eyes 04
    • 6.7. AT-6TH Texan II

  • 7. Fleet Size
  • 8. Competitive Landscape

    • 8.1. Defense Companies Operating in Thailand
    • 8.2. Main Defense Companies

  • 9. Appendix

    • 9.1. About This Report
    • 9.2. About Us
    • 9.3. Contact Us

Frequently asked questions

Thailand Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028 thematic reports
Currency USD
$1,250

Can be used by individual purchaser only

$2,500

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

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.

Sample Report

Thailand Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Thailand Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028 in real time.

  • Access a live Thailand Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.