The Royal Thai Army got the green light from the government to purchase 10 new tanks worth over two billion Baht ($58 million). The new tanks will replace older, lighter vehicles and were bought with full cabinet approval. The purchase is the second phase of the army’s tank procurement scheme which is to create a full battalion of 49 tanks.
Recently, the Royal Thai Army signed an order to buy 34 armoured vehicles. Thailand’s military has also shown interest in purchasing an unmanned aerial vehicle (UAV). The Royal Thai Navy is also upgrading and is set to acquire three new submarines worth 13.5 billion baht.
In fiscal year 2017, the government’s military spending accounts for 7.9% of the overall budget which is equivalent to 214 billion baht — up from 184 billion in 2014. The procedure is aligned with the ‘Modernisation Plan: Vision 2026’, which was announced by the Ministry of Defence (MoD) on 27 February and has three objectives: To improve preparation of the Thai military; to enhance capabilities; and to modernise related elements.
The modernisation plan does not provide a specific list of required military assets or capabilities but does provide an outline for Thailand to increase defence spending from the existing 1.4% of GDP to 2% of GDP by the end of the decade. The above has been confirmed by military officials according to Jane’s.
DEFENSE & SECURITY 2017 offers top business opportunities!
DEFENSE & SECURITY is a regional major Tri-Service event for Land, Sea & Air. As a biennial event it will be held this year from 6-9 November 2017 in Bangkok, Thailand. The show offers unique business opportunities to defence and security contractors and companies from around the world who will establish contact with decision-makers from all over Asia – especially from Thailand and ASEAN.
With full support from the Thai Ministry of Defence and the Thai Armed Forces, the show is biennially attended by thousands of visitors and delegations – including top decision-makers such as Ministers of Defence, Chiefs of Armed Forces for Army, Navy, Air Force, Police, Security Agencies and other high-ranking government officials.
