In 2023, Thailand's weapons imports stood at 187.5 Million US Dollars in value terms. Based on the forecasted data for the subsequent years, weapons imports are projected to increase steadily. The year-on-year variations depict a consistent growth in imports:
• 2024: 190.96 Million US Dollars, +1.84%
• 2025: 194.44 Million US Dollars, +1.82%
• 2026: 197.88 Million US Dollars, +1.77%
• 2027: 201.29 Million US Dollars, +1.72%
• 2028: 204.67 Million US Dollars, +1.68%
The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately 1.77%.
Future trends to watch for include potential geopolitical shifts in the ASEAN region, advancements in military technology potentially driving higher import values, and changes in Thailand's defense policies that could affect procurement strategies and priorities.
