Key Market Indicators
Thailand's defense expenditure is projected to drop to approximately $582 million by 2028, a steep decline from its 2023 budget of around $4.8 billion. This represents a yearly decrease of roughly 32%. Since 1965, Thailand's defense spending has consistently decreased by an average of 6.8% annually. In 2023, Thailand was ranked 41st globally in terms of defense expenditure. Finland, with a budget also around $4.8 billion, was positioned just ahead of Thailand. Leading the global rankings, China, Russia, and India occupied the second, third, and fourth spots, respectively.
Latest reports
Thailand Defense Market Report- Q4 2024
In the fourth quarter of 2024, Thailand's defense market experienced significant developments driven by modernization efforts, strategic international collaborations, and advancements in military...
