The import of arms and ammunition, parts, and accessories into Thailand has experienced substantial fluctuations over the past decade, indicating a volatile but generally upward trend. From 2013 to 2017, the value showed notable year-on-year variations, including significant increases and declines. Starting from 2018, there was a steady increase culminating in 2023, with the value reaching 463.61 million USD. This translates to a year-on-year increase of 4.44% in 2023, with a CAGR of 2.8% over the past five years.
Looking forward, the forecasted data from 2024 to 2028 suggests a continued growth trajectory at a moderate pace, with a forecasted 5-year CAGR of 3.16% and a total growth rate of 16.85%. By 2028, the value is expected to reach approximately 565.24 million USD.
Future trends to watch for include potential geopolitical shifts affecting defense procurement policies, advancements in military technology necessitating newer imports, and evolving regional security dynamics influencing defense spending priorities. Monitoring these factors will be crucial for understanding the future direction of Thailand's arms and ammunition import market.
