Market Share of Southeast Asia Defense Industry
The Southeast Asian defense market is semi-consolidated, with several local and global players holding significant shares. Some prominent players in the market are Singapore Technologies Engineering Ltd, Lockheed Martin Corporation, Airbus SE, The Boeing Company, and Leonardo SpA. The key players in the market highly focus on developing advanced weapons for military forces. Increasing investment in research and development and introducing technologies in military equipment such as artificial intelligence (AI) and the Internet of Things (IoT) will improve overall military operations. Growing long-term contracts and partnerships of defense OEMs with armed forces of different countries drive the market growth.
For instance, in August 2023, Indonesia signed a contract with Lockheed Martin Corporation to procure 24 transport helicopters. The agreement was signed between Indonesia’s aerospace company, Dirgantara Indonesia, and Lockheed Martin Corporation. Under the contract, the company will deliver 24 Sikorsky S-70M Black Hawk GFA-type helicopters to strengthen the country’s military air fleet.
Southeast Asia Defense Market Leaders
Lockheed Martin Corporation
Airbus SE
The Boeing Company
Leonardo SpA
Singapore Technologies Engineering Ltd
*Disclaimer: Major Players sorted in no particular order
