How big is the Southeast Asia Defense Market?

The Southeast Asia Defense Market size is expected to reach USD 14.09 billion in 2024 and grow at a CAGR of 6.47% to reach USD 19.27 billion by 2029. Read More

What is the current Southeast Asia Defense Market size?

In 2024, the Southeast Asia Defense Market size is expected to reach USD 14.09 billion. Read More

Who are the key players in Southeast Asia Defense Market?

Lockheed Martin Corporation, Airbus SE, The Boeing Company, Leonardo S.p.A and Singapore Technologies Engineering Ltd. are the major companies operating in the Southeast Asia Defense Market. Read More

What years does this Southeast Asia Defense Market cover, and what was the market size in 2023?

In 2023, the Southeast Asia Defense Market size was estimated at USD 13.18 billion. The report covers the Southeast Asia Defense Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Southeast Asia Defense Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Southeast Asia Defense Market - Size, Share & Industry Analysis

Southeast Asia Defense Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Southeast Asia Defense Market is Segmented by Armed Forces (Air Force, Army, Navy), Type (Personnel Training and Protection, C4ISR and EW, Weapons and Ammunition, Vehicles), and Geography (Singapore, Indonesia, Thailand, Malaysia, Rest of Southeast Asia). The Report Offers the Market Sizes and Forecasts in Value (USD) Terms for all the Abovementioned Segments.

Southeast Asia Defense Market Industry Overview

The Southeast Asian defense market is semi-consolidated, with local and global entities commanding substantial market shares. Key players, including Singapore Technologies Engineering Ltd, Lockheed Martin Corporation, Airbus SE, The Boeing Company, and Leonardo SpA, are at the forefront. These entities are notably focused on advancing military weaponry. Their strategies involve heavy R&D investments, integrating cutting-edge technologies like AI and IoT into military hardware, and enhancing operational efficiency. Moreover, the market is propelled by the increasing trend of long-term partnerships and contracts between defense OEMs and various armed forces.

For instance, in August 2023, Indonesia inked a deal with Lockheed Martin Corporation to procure 24 transport helicopters. The agreement, facilitated by Indonesia’s aerospace firm, Dirgantara Indonesia, underscores the nation's commitment to bolstering its military air capabilities.