Albany, NY -- (SBWIRE) -- 05/06/2013 -- Product Synopsis

This report is the result of SDI's extensive market and company research covering the Thai defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news..

Introduction and Landscape

Why was the report written?

The Future of the Thai Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Thai defense industry.

What is the current market landscape and what is changing?

Thai defense expenditure increased at a CAGR of 5.14% during the review period and valued US$6.1 billion in 2013. The focus of the Thai government will be on the modernization of its armed forces, the arms race with other Asian countries, and border security

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What are the key drivers behind recent market changes?

Modernization of the armed forces, the arms race with other Asian countries, and border security to drive Thai defense spending.

What makes this report unique and essential to read?

The Future of the Thai Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.

Key Features and Benefits

The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Thai defense industry.

The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.

The report helps the reader to understand the competitive landscape of the defense industry in Thailand. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Key Market Issues

Even though Thailand has an offset policy in order to enhance its domestic defense capabilities, it accepts indirect offsets as an eligible activity. Furthermore, the nation allows counter-purchase, according to which foreign suppliers can buy non-defense related goods such as fruits and rice in exchange for defense equipment. Additionally, a lack of multipliers within Thailand's offset policy fails to encourage foreign OEMs to provide technology transfers or jointly develop defense equipment with the country. Consequently, foreign suppliers are not incentivized to invest into the Thai defense sector and, as a result, the domestic defense sector is unable to gain access to military related technology. With the country failing to attract investors into its defense sector, the Thai military industry is unable to be part of the global supply chain for multinational defense companies.

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The Thai government fulfills most of its defense needs by importing military equipment from foreign countries such as Ukraine, Russia, Germany, France, and Spain. The overall exports of the country during the period 2008-2012 were negligible, resulting in poor inflow of foreign investment. During the forecast period, defense exports are expected to remain low as a result of less joint development and collaboration programs, and low levels of defense exports are expected to remain the key challenge for the Thai defense industry.

The Thai defense budget, which stands at US$6.1 billion for 2013, is lower than most of its neighbors - the Philippines is one of the few countries with a lower defense budget - and this relatively small defense budget size frequently deters investors from venturing into the country. Moreover, the Thai government has also made offsets mandatory for all defense procurements exceeding US$10.5 million. In an attempt to encourage domestic defense development, the Thai government awards additional significance to direct offsets; however, due to the lack of sufficient investment and a shortage of skilled Thai labor, foreign OEMs are unable to transfer sophisticated technology to domestic defense companies. The combination of the factors outlined above reduces the attractiveness of the Thai defense industry for foreign OEMs.

Key Highlights

Thailand hosts the Asian Defense and Security Exhibition, Conferencing and Networking event biennially. The event began in 2003 and provides a platform to manufacturers across the world to showcase their defense equipment. During 2012, the event attracted 250 individual exhibitors from 250 countries such as Germany, the US, Czech Republic, France, Korea, Israel, Singapore, Belarus, Russia, Poland, and Thailand. With the country embarking on a defense modernization plan, foreign OEMs have an opportunity to enter the fast-growing Thai defense market. The Thai government finalized deals catering to force restructuring, military education, package procurement, and research and development during the defense exhibition in March 2012, providing foreign OEMs with a good opportunity to enter the Thai defense market.

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During 2008-2012, Aircraft dominated Thailand's defense imports with a share of 436.6% of total imports. Armored vehicles, missiles, and ships are other major segments in which the country imported defense equipment during this period, accounting for 19.1%, 15.2%, and 11.5% respectively. Over the period 2013-2017, the country is expected to import helicopters, armored vehicles, and frigates to counter southern insurgency and strengthen its navy.

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What is the current market landscape and what is changing?

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What is the current market landscape and what is changing?

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