Future of the Thai Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

  • ID: 4726828
  • Report
  • Region: Thailand
  • 117 pages
  • GlobalData
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FEATURED COMPANIES

  • Airbus Helicopters
  • Leonardo
  • Lockheed Martin Corp.
  • Northrop Grumman Corp.
  • Saab
  • Sikorsky
  • MORE
Future of the Thai Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Summary

"Future of the Thai Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.

This report offers detailed analysis of the Thai 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.

In particular, it provides an in-depth analysis of the following -
  • The Thai defense industry market size and drivers: detailed analysis of the Thai defense industry over 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns
  • Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country
  • Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
  • Market opportunities:list of the top ten defense investment opportunities over the next 5 years
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the Thai defense industry.
Scope
  • Thailand, the second-largest economy in Southeast Asia, witnessed defense budget growth of 4.78% during 2014-2018, to reach a value of US$6.8 billion in 2018.
  • 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 grow at a CAGR of 4.61% to reach US$8.4 billion by 2023.
Reasons to Buy
  • This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Thai defense industry market trends for the coming five years
  • The market opportunity section will inform the user about the various military requirements that are expected to generate revenues over the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
  • Profiles of the top domestic and foreign defense manufacturers . This will provide the user with a total competitive landscape of the sector
  • A deep qualitative analysis of the Thai defense industry covering sections including demand drivers, Key Trends , and latest industry contracts.
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Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Airbus Helicopters
  • Leonardo
  • Lockheed Martin Corp.
  • Northrop Grumman Corp.
  • Saab
  • Sikorsky
  • MORE
1. Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. About

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Primary Threat Perception
3.1.2. Military Doctrine & Strategy
3.1.3. Military Fleet Size
3.1.4.
3.1.5. Procurement Programs
3.1.6. Top 10 Procurement Programs by Value (US$ Million) 2018-2023
3.1.7. Social, Political and Economic Environment & Support for Defense Projects
3.1.8. Political and Strategic Alliances
3.2. Defense Market Size Historical and Forecast
3.2.1. Thailand’s defense budget is expected to grow at a CAGR of 4.61% over the forecast period
3.2.2. Arms race with other Asian countries, border conflicts, modernization of armed forces, and political volatility drives Thailand’s defense expenditure
3.2.3. Defense expenditure as a percentage of GDP to average 1.3% over the forecast period
3.3. Analysis of Defense Budget Allocation
3.3.1. Average capital expenditure allocation expected to average 26.6% of the total defense budget over the forecast period
3.3.2. Need to replace obsolete equipment to drive defense capital expenditure
3.3.3. Army Defense accounted for the largest percentage share of the overall defense budget
3.3.4. Army to account for the majority share of Thailand’s defense budget
3.3.5. Per capita defense expenditure is expected to increase over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. Homeland security expenditure is expected to grow at a CAGR of 5.32% over the forecast period
3.4.2. Counter terrorism and maritime security to drive Thailand’s homeland security expenditure
3.4.3. Thailand faces a high level of threat from foreign terrorist organizations
3.4.4. Thailand faces “high risk” from acts of terrorism
3.4.5. Thailand has a terrorism index score of 6.6
3.5. Benchmarking with Key Global Markets
3.5.1. Thailand’s defense expenditure is expected to increase at a slower rate than other Asian countries over the forecast period
3.5.2. Thailand’s defense expenditure is relatively small when compared to other Asian countries
3.5.3. Thailand’s defense budget as a percentage of GDP is expected to remain constant over the forecast period
3.6. Market Opportunities: Key Trends and Growth Stimulators
3.6.1. Top 10 Defense Market Categories by Value (US$ million) - Forecast-Period Projections
3.6.2. Physical Security Market
3.6.3. Land-based C4ISR
3.6.4. Diesel Electric Submarine

4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Thailand’s defense imports are expected to increase over the forecast period
4.1.2. Ukraine and China are the key arms suppliers to Thailand
4.1.3. Aircraft and armored vehicles dominate Thailand’s arms imports
4.2. Export Market Dynamics
4.2.1. Negligible defense exports in Thailand

5. Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining Power of Supplier: Medium
5.1.2. Bargaining Power of Buyer: Medium
5.1.3. Barrier to Entry: Low to Medium
5.1.4. Intensity of Rivalry: Medium to High
5.1.5. Threat of Substitution: High

6. Market Entry Strategy
6.1. Market Regulation
6.1.1. Thailand’s defense industry is largely driven by the government’s offset policy
6.1.2. Thailand’s defense sector is partially regulated
6.2. Market Entry Route
6.2.1. Budgeting Process
6.2.2. Defense exhibitions can be used as a direct entry route into Thailand’s defense industry
6.2.3. Foreign defense organizations enter the market by partnering with a domestic defense firm
6.2.4. Foreign Military Sales (FMS) in Thailand
6.3. Key Challenges
6.3.1. Negligible defense exports pose a major challenge for domestic defense companies
6.3.2. Limited defense budget allocation by Thailand’s government discourages investors from market entry
6.3.3. Corruption and lack of transparency hinder the growth of Thailand’s defense industry
6.3.4. Presence of indirect offsets hampers the growth of the domestic defense sector

7. Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Saab: Overview
7.1.2. Saab: Products and Services
7.1.3. Saab: Recent Announcements and Strategic Initiatives
7.1.4. Saab: Alliances
7.1.5. Saab: Recent Contract Wins
7.1.6. SAAB - Financial Analysis
7.1.7. Airbus Helicopters: Overview
7.1.8. Airbus Helicopters: Products and Services
7.1.9. Airbus Helicopters: Recent Announcements and Strategic Initiatives
7.1.10. Airbus Helicopters: Recent Contract Wins
7.1.11. Sikorsky: Overview
7.1.12. Sikorsky: Products and Services
7.1.13. Sikorsky: Recent Announcements and Strategic Initiatives
7.1.14. Sikorsky: Recent Contract Wins
7.1.15. Northrop Grumman Corp. Overview
7.1.16. Northrop Grumman Corp.: Products and Services
7.1.17. Northrop Grumman Corp.: Recent Contract Wins
7.1.18. Northrop Grumman Corp.: Financial analysis
7.1.19. Lockheed Martin Corp. Overview
7.1.20. Lockheed Martin Corp.: Products and Services
7.1.21. Lockheed Martin Corp.: Recent Announcements and Strategic Initiatives
7.1.22. Lockheed Martin Corp.: Recent Contract Wins
7.1.23. Lockheed Martin Corp.: Financial analysis
7.1.24. Leonardo: Overview
7.1.25. Leonardo-: Products and Services
7.1.26. Leonardo-: Recent Announcements and Strategic Initiatives
7.1.27. Leonardo-: Recent Contract Wins
7.1.28. Leonardo: Financial Analysis
7.1.29. Daewoo Shipbuilding & Marine Engineering: Overview
7.1.30. Daewoo Shipbuilding & Marine Engineering: Products and Services
7.1.31. Daewoo Shipbuilding & Marine Engineering: Recent Announcements and Strategic Initiatives
7.1.32. Daewoo Shipbuilding & Marine Engineering: Recent Contract Wins
7.1.33. Enstrom Helicopter Corporation: Overview
7.1.34. Enstrom Helicopter Corporation: Products and Services
7.1.35. Enstrom Helicopter Corporation: Recent Announcements and Strategic Initiatives
7.1.36. Enstrom Helicopter Corporation: Recent Contract Wins

8. Business Environment and Country Risk
8.1. Economic Performance
8.1.1. Nominal GDP per Capita
8.1.2. GDP at Current Prices (US$ Billion)
8.1.3. Exports of Goods and Services (LCU Billion)
8.1.4. Imports of Goods and Services (LCU Billion)
8.1.5. Gross National Disposable Income (US$ Billion)
8.1.6. LCU per US$ (period average)
8.1.7. Market Capitalization of Listed Companies (US$ Billion)
8.1.8. Market Capitalization of Listed Companies (% of GDP)
8.1.9. Government Cash Surplus/Deficit as a Percentage of GDP (LCU)
8.1.10. Goods Exports as a Percentage of GDP
8.1.11. Goods Imports as a Percentage of GDP
8.1.12. Services Imports as a Percentage of GDP
8.1.13. Service Exports as a Percentage of GDP
8.1.14. Foreign Direct Investment, net (BoP, current US$ Billion)
8.1.15. Net Foreign Direct Investment as a % of GDP
8.1.16. Mining, Manufacturing, Utilities Output (LCU Billion)

4. Appendix
4.1. About
4.2. Disclaimer

List of Tables
Table 1: Thailand Ground Forces Strength
Table 2: Thailand Air Force Strength
Table 3: Thailand Navy Strength
Table 4: Thailand - Ongoing Development and Procurement Programs
Table 5: Thailand - Future Procurement Programs
Table 6: Thai - Top Defense Procurement Programs by Value (US$ Million), 2018-2023
Table 7: Thai Defense Expenditure (THB Billion & US$ Billion), 2014-2023
Table 8: Thai GDP Growth and Defense Expenditure as a Percentage of GDP Growth, 2014-2023
Table 9: Thai Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023
Table 10: Thai Defense Capital Expenditure (THB Billion & US$ Billion), 2014-2023
Table 11: Thai Defense Budget Split Between Military Services (Army, Navy, Air Force and Others) (%), 2014-2023
Table 12: Thai - Defense Budget Breakdown by Service (THB Billion), 2014-2023
Table 13: Thai - Defense Budget Breakdown by Service ( US$ Billion), 2014-2023
Table 14: Thai Per Capita Defense Expenditure (US$), 2014-2023
Table 15: Thai Homeland Security Expenditure (THB Billion & US$ Billion), 2014-2023
Table 16: Terrorism Index, 2018
Table 17: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023
Table 18: Thai - 10 Leading Defense Market Categories by Value (US$ Million), 2018-2023
Table 19: Thailand Defense Offset Regulations
Table 20: Thailand Budget Formation Timetable
Table 21: FMS Deals in Thailand
Table 22: Thai - Top Defense Suppliers by Value (US$ Million), 2018-2023
Table 23: Saab - Product Focus
Table 24: Saab - Alliances
Table 25: Saab - Recent Contract Wins
Table 26: Airbus Helicopters - Product Focus
Table 27: Airbus Helicopters - Recent Contract Wins
Table 28: Sikorsky - Product Focus
Table 29: Sikorsky - Recent Contract Wins
Table 30: Northrop Grumman Corp. - Product Focus
Table 31: Northrop Grumman Corp.- Recent Contract Wins
Table 32: Lockheed Martin Corp. - Product Focus
Table 33: Lockheed Martin Corp.- Recent Contract Wins
Table 34: Leonardo-- Product Focus
Table 35: SME: Leonardo-- Recent Contract Wins
Table 36: Daewoo Shipbuilding & Marine Engineering - Product Focus
Table 37: Daewoo Shipbuilding & Marine Engineering - Recent Contract Wins
Table 38: Helicopter Corporation- Product Focus
Table 39: Helicopter Corporation- Recent Contract Wins

List of Figures
Figure 1: Thai Defense Expenditure (THB Billion), 2014-2023
Figure 2: Thai Defense Expenditure (US$ Billion), 2014-2023
Figure 3: Thai GDP Growth vs. Defense Expenditure as Percentage of GDP, 2014-2023
Figure 4: Thai Defense Budget Split Between Capital and Revenue Expenditure (%),2014-2023
Figure 5: Thai Defense Capital Expenditure (THB Billion), 2014-2023
Figure 6: Thai Defense Capital Expenditure (US$ Billion), 2014-2023
Figure 7: Thai Defense Budget Split Between Army, Navy, Air Force and Others, 2014-2023
Figure 8: Thai - Defense Budget Breakdown by Service (THB Billion), 2014-2023
Figure 9: Thai - Defense Budget Breakdown by Service (US$ Billion), 2014-2023
Figure 10: Thai Per Capita Defense Expenditure (US$), 2014-2023
Figure 11: Thailand Homeland Security Expenditure (THB Billion), 2014-2023
Figure 12: Thailand Homeland Security Expenditure (US$ Billion), 2014-2023
Figure 13: Terrorism Heat Map, 2018
Figure 14: Terrorism Index, 2018
Figure 15: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023
Figure 16: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2018 and 2023
Figure 17: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018
Figure 18: Physical Security Market Size (US$ Million), 2018-2023
Figure 19: Land-based C4ISR Market Size (US$ Million), 2018-2028
Figure 20: Thailand Diesel Electric Submarine Market Size (US$ Million), 2018-2023
Figure 21: Thailand - Defense Procurements in Terms of Supplier Relationships, 2018
Figure 22: Thailand’s Defense Import Trend, 2013-2017 (TIV values)
Figure 23: Thailand’s Defense Import by Country, 2013-2017 (TIV values)
Figure 24: Thailand’s Defense Imports by Category (%), 2013-2017
Figure 25: Industry Dynamics - Porter’s Five Forces Analysis
Figure 26: SAAB - Revenue Trend Analysis (SEK Billion), 2013-2017
Figure 27: SAAB - Operating Profit Trend Analysis (SEK Billion), 2013-2017
Figure 28: SAAB - Net Profit Trend Analysis (SEK Billion), 2013-2017
Figure 29: Northrop Grumman Corp. - Revenue Trend Analysis (US$ billion), 2013-2017
Figure 30: Northrop Grumman Corp. - Operating Profit Trend Analysis (US$ billion), 2013-2017
Figure 31: Northrop Grumman Corp. - Net Profit Trend Analysis (US$ billion), 2013-2017
Figure 32: Lockheed Martin Corp. - Revenue Trend Analysis (US$ billion), 2013-2017
Figure 33: Lockheed Martin Corp. - Operating Profit Trend Analysis (US$ billion), 2013-2017
Figure 34: Lockheed Martin Corp. - Net Profit Trend Analysis (US$ billion), 2013-2017
Figure 35: Leonardo - Revenue Trend Analysis (EUR Billion), 2013-2017
Figure 36: Leonardo - Operating Profit Trend Analysis (EUR Million), 2013-2017
Figure 37: Leonardo - Net Profit Trend Analysis (EUR Million), 2013-2017
Figure 38: Thailand’s GDP Per Capita at Constant Prices (US$), 2015-2025
Figure 39: Thailand - GDP at Current Prices (US$ Billion), 2015-2025
Figure 40: Thailand’s Exports of Goods and Services (LCU Billion), 2005-2014
Figure 41: Thailand’s Imports of Goods and Services (LCU Billion), 2005-2014
Figure 42: Thailand’s Gross National Disposable Income (US$ Billion), 2005-2013
Figure 43: Thailand LCU per US$, 2015-2024
Figure 44: Thailand’s Market Capitalization of Listed Companies (US$ Billion), 2005-2012
Figure 45: Thailand’s Market Capitalization of Listed Companies (% of GDP), 2005-2012
Figure 46: Thailand’s Government Cash Surplus/Deficit as % of GDP (LCU), 2005-2012
Figure 47: Thailand - Goods Exports as a % of GDP (%), 2005-2014
Figure 48: Thailand - Goods Imports as a % of GDP (%), 2005-2014
Figure 49: Thailand’s Services Imports as a % of GDP (%), 2005-2014
Figure 50: Thailand Service Exports as a % of GDP (%), 2005-2014
Figure 51: Thailand - Foreign Direct Investment, net (BoP, current US$ Billion), 2005-2014
Figure 52: Thailand- Net Foreign Direct Investment as a % of GDP, 2005-2014
Figure 53: Thailand’s Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014
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  • Saab
  • Airbus Helicopters
  • Sikorsky
  • Northrop Grumman Corp.
  • Lockheed Martin Corp.
  • Leonardo
  • Daewoo Shipbuilding & Marine Engineering
  • Enstrom Helicopter Corporation
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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