Taiwan Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Taiwan Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Taiwan has been compelled to invest in developing a robust defense posture. Taiwanese defense expenditure, inclusive of the additional special budget, increased from $11.0 billion in 2019 to $19.9 billion in 2023, reflecting a CAGR of 16.0% during 2019-23. The continuous annual increase in the defense budget during 2019-23 is attributed to the immense threat posed by its neighboring rival China. However, Taiwan's defense expenditure is projected to grow at a CAGR of 4.6% to value $20.8 billion by 2028, mainly due to the People's Republic of China's (PRC) assertiveness with regard to the 'One China Policy'.

Key Highlights

• The Taiwanese defense budget valued $19.9 billion in 2023 and registered a CAGR of 16.0% during the historic period. Over the forecast period, Taiwanese defense expenditure is anticipated to register a CAGR of 4.6% to value $20.8 billion in 2028 due to the People's Republic of China's (PRC) assertiveness with regards to its 'One China Policy'.
• The ongoing dispute with China over the 'One China Principle' has compelled the Taiwanese government to expedite the modernization of its armed forces. Taiwan has signed a multibillion-dollar deal for the procurement of the F-16 Viper from the US, along with missiles and missile defense systems. Taiwan is also indigenously building diesel-electric submarines and naval vessels to modernize its naval forces.
• With a defense budget of $19.9 billion and an acquisition budget valued at $4.2 billion in 2023, Taiwan offers a lucrative defense market. Military fixed-wing aircraft, missiles and missile defense systems, and naval vessels and surface combatants are the top three largest sectors within the Taiwanese defense market.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers a detailed analysis of the Taiwan defense market 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:

• Taiwan defense budget: detailed analysis of the Taiwan 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and the process is explained. This is coupled with an analysis of the Taiwan military doctrine and strategy to provide a comprehensive overview of Taiwan's military regulation.
• Security Environment: political alliances and perceived security threats to Taiwan are examined; there help to explain trends in spending and modernization.
• Competitive landscape and strategic insights: analysis of the competitive landscape of Taiwan's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Taiwan defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Taiwan 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 Taiwan defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Taiwan government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available