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. 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 nav...