Thai Defense Expenditure Expected to Reach US$8.6 Billion by 2024

Thailand has witnessed Defense growth of 5.53% during 2015-2019 and will reach a value of US$6.9 billion in 2019. Thailand has continued to have one of Southeast Asia’s highest levels of defense spending and the trend is expected to continue over the forecast period, with the country’s defense expenditure projected to grow at a CAGR of 4.25% and reach US$8.6 billion by 2024.

As noted, Thailand’s homeland security (HLS) budget increased at a CAGR of 6.69%, and has reached US$6 billion in 2019. During this period, the country’s HLS budget is projected to increase from US$6.3 billion in 2020 to US$7.7 billion in 2024, – a CAGR of 5.04%. The expected increase in funding for domestic security will cover important infrastructure upgrades and overhauls for areas such as airports, ports and harbors, and mass transportation systems throughout the forecast period.

With This dynamic defense spending pattern DEFENSE & SECURITY 2019 offers an excellent business platform for companies in the Defence and Internal Security industry. They will be able to present their latest technology and do business with decision-makers in person such as Ministers of Defense, Chiefs of Armed Forces for Amy, Navy, Air Force, Police, Security Agencies and other high-ranking government officials from across ASEAN.

DEFENSE & SECURITY will be held in Bangkok from 18-21 November 2019. Major international companies have already confirmed their participation. With proven success and business opportunities presented in the last edition, DEFENSE & SECURITY 2019 is expected to be sold out very soon.