The Thai Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2025

Table of Contents

1. Introduction
1.1.1. What is this Report About?
1.1.2. Definitions
1.1.3. Summary Methodology
1.1.4. About the publisher

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities
3.1.1. Current Market Scenario
3.1.2. Primary Threat Perception
3.1.3. Military Doctrine and Strategy
3.1.4. Procurement Programs
3.1.5. Future Procurement Programs
3.1.6. Top 10 Procurement Programs by Value (US$ Million), 2020-2025
3.1.7. Geopolitical, Social and Economic Scenario
3.1.8. Political and Strategic Alliances
3.1.9. Defense Market Size Historical and Forecast
3.1.10. Thailand’s Defense Budget is expected to grow at a CAGR of 3.35% over the Forecast Period
3.1.11. Arms Race with Other Asian countries, Border Conflicts, Modernization of Armed Forces, and Political Volatility Drives Thailand’s Defense Expenditure
3.1.12. Defense Expenditure as a Percentage of GDP to Average 1.26% over the Forecast Period
3.1.13. Analysis of Defense Budget Allocation
3.1.14. Average Capital Expenditure Allocation Expected to Average 26.5% of the Total Defense Budget over the Forecast Period
3.1.15. Need to Replace Obsolete Equipment to Drive Defense Capital Expenditure
3.1.16. Army Defense Accounted for the Largest Percentage Share of the Overall Defense Budget
3.1.17. Army to Account for the largest share of Thailand’s Defense Budget
3.1.18. Per Capita Defense Expenditure is Expected to Increase over the Forecast Period
3.1.19. Homeland Security Market Size and Forecast
3.1.20. Homeland security expenditure is expected to grow at a CAGR of 0.84% over the forecast period
3.1.21. Internal Insurgencies, Terrorism, and Organized Crime to Drive Thailand’s Homeland Security Expenditure
3.1.22. Benchmarking with Key Global Markets
3.1.23. Thailand’s Defense Expenditure is Expected to Increase at a Slower Rate than that of other Asian Countries over the Forecast Period
3.1.24. Thailand’s Defense Expenditure is Relatively Low when Compared to other Asian Countries
3.1.25. Thailand’s Defense Budget as a Percentage of GDP is Expected to Remain Stable over the Forecast Period
3.1.26. Market Opportunities: Key Trends and Growth Stimulators
3.1.27. Top 10 Defense Market Categories by Value (US$ million) - Forecast-Period Projections
4.1.1. Physical Security Market
4.1.2. Land-based C4ISR
4.1.3. Infrastructure Construction

5. Defense Procurement Market Dynamics
5.1.1. Import Market Dynamics
5.1.2. Thailand’s Defense Imports are Expected to Increase over the Forecast Period
5.1.3. South Korea Emerged as the Key Arms Supplier to Thailand
5.1.4. Aircraft and Armored Vehicles Dominate Thailand’s Arms Imports
5.1.5. Export Market Dynamics
5.1.6. Negligible Defense Exports in Thailand

6. Industry Dynamics
6.1.1. Five Forces Analysis
6.1.2. Bargaining Power of Supplier: Medium
6.1.3. Bargaining Power of Buyer: Medium
6.1.4. Barrier to Entry: Low to Medium
6.1.5. Intensity of Rivalry: Medium to High
6.1.6. Threat of Substitution: High

7. Market Entry Strategy
7.1.1. Market Regulation
7.1.2. Thailand’s Defense Industry is Largely Driven by the Government’s Offset Policy
7.1.3. Thailand’s Defense Sector is Partially Regulated
7.1.4. Market Entry Route
7.1.5. Budgeting Process
7.1.6. Defense Exhibitions Can be used as a Direct Entry Route into Thailand’s Defense Industry
7.1.7. Foreign Defense Organizations Enter the Market by Partnering with a Domestic Defense Firm
7.1.8. Government to Government sales in Thailand
7.1.9. Key Challenges
7.1.10. Limited Defense Budget Discourages Investors from Market Entry
7.1.11. Corruption and Lack of Transparency Hinder the Growth of Thailand’s Defense Industry
7.1.12. Presence of Indirect Offsets Hampers the Growth of the Domestic Defense Sector

8. Competitive Landscape and Strategic Insights
8.1.1. Competitive Landscape Overview
8.1.2. Thailand Market Share Analysis
8.1.3. Saab: Overview
8.1.4. Saab: Products and Services
8.1.5. Saab: Recent Announcements and Strategic Initiatives
8.1.6. Saab: Alliances
8.1.7. Saab: Recent Contract Wins
8.1.8. SAAB - Financial Analysis
8.1.9. Airbus Helicopters: Overview
8.1.10. Airbus Helicopters: Products and Services
8.1.11. Airbus Helicopters: Recent Announcements and Strategic Initiatives
8.1.12. Airbus Helicopters: Recent Contract Wins
8.1.13. Sikorsky: Overview
8.1.14. Sikorsky: Products and Services
8.1.15. Sikorsky: Recent Announcements and Strategic Initiatives
8.1.16. Sikorsky: Recent Contract Wins
8.1.17. Northrop Grumman Corp. Overview
8.1.18. Northrop Grumman Corp.: Products and Services
8.1.19. Northrop Grumman Corp.: Recent Contract Wins
8.1.20. Northrop Grumman Corp.: Financial analysis
8.1.21. Lockheed Martin Corp. Overview
8.1.22. Lockheed Martin Corp.: Products and Services
8.1.23. Lockheed Martin Corp.: Recent Announcements and Strategic Initiatives
8.1.24. Lockheed Martin Corp.: Recent Contract Wins
8.1.25. Lockheed Martin Corp.: Financial analysis
8.1.26. Leonardo: Overview
8.1.27. Leonardo: Products and Services
8.1.28. Leonardo: Recent Announcements and Strategic Initiatives
8.1.29. Leonardo: Recent Contract Wins
8.1.30. Leonardo: Financial Analysis
8.1.31. Daewoo Shipbuilding & Marine Engineering: Overview
8.1.32. Daewoo Shipbuilding & Marine Engineering: Products and Services
8.1.33. Daewoo Shipbuilding & Marine Engineering: Recent Announcements and Strategic Initiatives
8.1.34. Daewoo Shipbuilding & Marine Engineering: Recent Contract Wins

9. Business Environment and Country Risk
9.1.1. Economic Performance
9.1.2. Nominal GDP per Capita
9.1.3. GDP at Current Prices (US$ Billion)
9.1.4. Exports of Goods and Services (LCU Billion)
9.1.5. Imports of Goods and Services (LCU Billion)
9.1.6. Gross National Disposable Income (US$ Billion)
9.1.7. LCU per US$ (Period Average)
9.1.8. Market Capitalization of Listed Companies (US$ Billion)
9.1.9. Market Capitalization of Listed Companies (% of GDP)
9.1.10. Government Cash Surplus/Deficit as a Percentage of GDP (LCU)
9.1.11. Goods Exports as a Percentage of GDP
9.1.12. Goods Imports as a Percentage of GDP
9.1.13. Services Imports as a Percentage of GDP
9.1.14. Service Exports as a Percentage of GDP
9.1.15. Foreign Direct Investment, Net (BoP, Current US$ Billion)
9.1.16. Net Foreign Direct Investment as a % of GDP
9.1.17. Mining, Manufacturing, Utilities Output (LCU Billion)

10. Appendix
10.1.1. About the publisher
10.1.2. Disclaimer

List of Tables

Table 1: Thailand - Ongoing Development and Procurement Programs
Table 2: Thailand - Future Procurement Programs
Table 3: Thailand - Top Defense Procurement Programs by Value (US$ Million), 2020-2025
Table 4: Thailand’s Military Training Exercises
Table 5: Thailand’s joint defense partnerships
Table 6: Thai Defense Expenditure (THB Billion and US$ Billion), 2016-2025
Table 7: Thai GDP Growth and Defense Expenditure as a Percentage of GDP Growth, 2016-2025
Table 8: Thai Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2025
Table 9: Thai Defense Capital Expenditure (THB Billion and US$ Billion), 2016-2025
Table 10: RTAF’s upcoming Procurement Programs According to whitepaper published on 20 February 2020
Table 11: Thai Defense Budget Split Between Military Services (Army, Navy, Air Force and Others) (%), 2016-2025
Table 12: Thai - Defense Budget Breakdown by Service (THB Billion), 2016-2025
Table 13: Thai - Defense Budget Breakdown by Service (THB Billion), 2016-2025
Table 14: Thai - Defense Budget Breakdown by Service (US$ Billion), 2016-2025
Table 15: Thai Per Capita Defense Expenditure (US$), 2016-2025
Table 16: Thai Homeland Security Expenditure (THB Billion and US$ Billion), 2016-2025
Table 17: Benchmarking with Key Markets, 2016-2020 vs. 2021-2025
Table 18: Thai - 10 Leading Defense Market Categories by Value (US$ Million), 2020-2025
Table 19: Thailand Defense Offset Regulations
Table 20: Thailand’s Budgeting Process (Sample Graphical Representation)
Table 21: Government to Government Deals in Thailand
Table 22: Thailand’s Top Defense Suppliers by Value (US$ Million), 2020-2025
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

List of Figures

Figure 1 : Thailand Defense Budget: 2021 and 2025
Figure 2: Thailand Defense Imports/Exports, 2014 and 2018
Figure 3: Thailand’s Top Prospective Procurements/Developments
Figure 4: Thai National Security Threats
Figure 5: Thailand’s Partner Countries for Defense Cooperation and Military Training
Figure 6: Thai Defense Expenditure (THB Billion), 2016-2025
Figure 7: Thai Defense Expenditure (US$ Billion), 2016-2025
Figure 8: Thailand’s GDP Growth vs. Defense Expenditure as Percentage of GDP, 2016-2025
Figure 9: Thai Defense Budget Split Between Capital and Revenue Expenditure (%), 2016-2025
Figure 10: Thai Defense Capital Expenditure (THB Billion), 2016-2025
Figure 11: Thai Defense Capital Expenditure (US$ Billion), 2016-2025
Figure 12: Thai Defense Budget Split Between Army, Navy, Air Force and Others, 2016-2025
Figure 13: Thai - Defense Budget Breakdown by Service (THB Billion), 2016-2025
Figure 14: Thai Defense Budget Breakdown by Service (US$ Billion), 2016-2025
Figure 15: Thai Per Capita Defense Expenditure (US$), 2016-2025
Figure 16: Thailand Homeland Security Expenditure (THB Billion), 2016-2025
Figure 17: Thailand Homeland Security Expenditure (US$ Billion), 2016-2025
Figure 18: Benchmarking with Key Markets, 2016-2020 vs. 2021-2025
Figure 19: Defense Expenditure of the World’s Largest Military Spenders (US$ Billion), 2020 and 2025
Figure 20: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2020
Figure 21: Physical Security Market Size (US$ Million), 2020-2025
Figure 22: Land-based C4ISR Market Size (US$ Million), 2020-2025
Figure 23: Infrastructure Construction Market Size (US$ Million), 2020-2025
Figure 24: Thailand, Defense Procurements in Terms of Supplier Relationships, 2019
Figure 25: Thailand’s Defense Import Trend, 2014-2018 (TIV Values)
Figure 26: Thailand’s Defense Import by Country, 2014-2018 (TIV Values)
Figure 27: Thailand’s Defense Imports by Category (%), 2014-2018
Figure 28: Industry Dynamics - Porter’s Five Forces Analysis
Figure 29: Key Challenges in the Thai Defense Market
Figure 30: Thailand Market Share Analysis, 2020
Figure 31: SAAB - Revenue Trend Analysis (SEK Billion), 2015-2019
Figure 32: SAAB - Operating Profit Trend Analysis (SEK Billion), 2015-2019
Figure 33: SAAB - Net Profit Trend Analysis (SEK Billion), 2015-2019
Figure 34: Northrop Grumman Corp. - Revenue Trend Analysis (US$ billion), 2015-2019
Figure 35: Northrop Grumman Corp. - Operating Profit Trend Analysis (US$ billion), 2015-2019
Figure 36: Northrop Grumman Corp. - Net Profit Trend Analysis (US$ billion), 2015-2019
Figure 37: Lockheed Martin Corp. - Revenue Trend Analysis (US$ billion), 2015-2019
Figure 38: Lockheed Martin Corp. - Operating Profit Trend Analysis (US$ billion), 2015-2019
Figure 39: Lockheed Martin Corp. - Net Profit Trend Analysis (US$ billion), 2015-2019
Figure 40: Leonardo - Revenue Trend Analysis (EUR Billion), 2014-2018
Figure 41: Leonardo - Operating Profit Trend Analysis (EUR Million), 2014-2018
Figure 42: Leonardo - Net Profit Trend Analysis (EUR Million), 2014-2018
Figure 43: Thailand’s GDP Per Capita at Constant Prices (US$), 2015-2025
Figure 44: Thailand’s GDP at Current Prices (US$ Billion), 2015-2025
Figure 45: Thailand’s Exports of Goods and Services (LCU Billion), 2005-2014
Figure 46: Thailand’s Imports of Goods and Services (LCU Billion), 2005-2014
Figure 47: Thailand’s Gross National Disposable Income (US$ Billion), 2005-2013
Figure 48: Thailand LCU per US$, 2016-2025
Figure 49: Thailand’s Market Capitalization of Listed Companies (US$ Billion), 2005-2012
Figure 50: Thailand’s Market Capitalization of Listed Companies (% of GDP), 2005-2012
Figure 51: Thailand’s Government Cash Surplus/Deficit as % of GDP (LCU), 2005-2012
Figure 52: Thailand, Goods Exports as a % of GDP (%), 2005-2014
Figure 53: Thailand, Goods Imports as a % of GDP (%), 2005-2014
Figure 54: Thailand’s Services Imports as a % of GDP (%), 2005-2014
Figure 55: Thailand, Service Exports as a % of GDP (%), 2005-2014
Figure 56: Thailand, Foreign Direct Investment, Net (BoP, Current US$ Billion), 2005-2014
Figure 57: Thailand Net Foreign Direct Investment as a % of GDP, 2005-2014
Figure 58: Thailand’s Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014

• Saab
• Airbus Helicopters
• Sikorsky
• Northrop Grumman Corp
• Lockheed Martin Corp.
• Leonardo
• Daewoo Shipbuilding & Marine Engineering