Thailand, the second-largest economy in Southeast Asia, witnessed defense budget growth of 1.11% over 2013-2017
The country aims to modernize its military equipment in order to sustain its military capabilities and maintain acceptable readiness levels in line with other countries around the world. The escalation of the arms race in the ASEAN region (Association of Southeast Asian Nations), due to massive military expenditure by China and India, and territorial conflicts with adjoining nations, are the key factors driving Thailand’s defense expenditure. With this trend expected to continue over the forecast period, the country’s defense expenditure is projected to reach US$7.7 Billion by 2022.
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Defense capital expenditure is expected to increase to US$3.5 Billion over the forecast period till 2022. The country’s defense revenue expenditure is expected to grow at a CAGR of 4.00% over the forecast period to reach US$4.2 Billion by 2022. Thailand is expected to allocate half of its total budget to its army, with expenditure on the navy, air force, and others sectors accounting for an average of 19.6%, 18.6%, and 12.2% respectively.
Thailand also aims to increase its homeland security expenditure in order to counter threats posed by terrorists, pirates, and internal rebel groups. Thailand’s homeland security expenditure cumulatively valued US$23.9 Billion between 2013 and 2017; and is predicted to increase to US$29.3 Billion over the forecast period. Over the forecast period, demand for equipment is mainly expected to revolve around military IT networking, main battle tanks, infrastructure construction, multi-role aircraft, naval vessels, submarine, helicopters, armored vehicles, unmanned aerial vehicles (UAVs), and surveillance equipment.
Visit full report @ https://goo.gl/b8UmPB
The report “Future of the Thailand Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” offers detailed analysis of the Thailand defense industry 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.
Get PDF request sample copy @ https://goo.gl/deZxP3
Defense capital expenditure is expected to increase to US$3.5 Billion over the forecast period till 2022. The country’s defense revenue expenditure is expected to grow at a CAGR of 4.00% over the forecast period to reach US$4.2 Billion by 2022. Thailand is expected to allocate half of its total budget to its army, with expenditure on the navy, air force, and others sectors accounting for an average of 19.6%, 18.6%, and 12.2% respectively.
Thailand also aims to increase its homeland security expenditure in order to counter threats posed by terrorists, pirates, and internal rebel groups. Thailand’s homeland security expenditure cumulatively valued US$23.9 Billion between 2013 and 2017; and is predicted to increase to US$29.3 Billion over the forecast period. Over the forecast period, demand for equipment is mainly expected to revolve around military IT networking, main battle tanks, infrastructure construction, multi-role aircraft, naval vessels, submarine, helicopters, armored vehicles, unmanned aerial vehicles (UAVs), and surveillance equipment.
Visit full report @ https://goo.gl/b8UmPB
The report “Future of the Thailand Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022” offers detailed analysis of the Thailand defense industry 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.
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