Key Market Indicators
Thailand's weapon imports are projected to climb to approximately $205 million by 2028, up from about $187 million in 2023. This marks an average annual growth rate of 1.4%. Despite this increase, Thai demand for weapons has significantly declined by 21.6% annually since 1965. In the global ranking for weapon imports in 2023, Thailand held the 35th position. Canada surpassed Thailand, recording the same import value of around $187 million. The top spots in this ranking were occupied by Qatar, Saudi Arabia, and Kuwait, respectively. On the export front, Thailand's weapon exports are expected to soar to roughly $17 million by 2028, from about $7 million in 2023. This represents a robust compound annual growth rate (CAGR) of 13.2%. Since 2021, the country's weapon supply has seen a notable increase of 36.2% annually.
