The Stockholm International Peace Institute notes that Vietnam’s defense expenditure in 2016 to have exceeded US$5 billion. This is expected to reach US$6.2 billion by year 2020 and is expected to increase on a high growth trajectory in the following years.
Vietnam’s defense budget has consistently been above 2.6% of GDP, the second highest in ASEAN after Singapore, demonstrating its strong commitment to modernize and enlarge its defense capabilities. Its defense and security market has significant growth potential, offering real export opportunities for International Defense OEM’s and integrators.
The Vietnamese People’s Army (VPA) and Public Security Forces are rapidly modernizing their forces and weapon systems to address contemporary and future defense and security challenges, resulting in a wide range of requirements, including:
- Armoured Vehicles and Tanks.
- Infantry Fighting Vehicles and Weapons
- Self-propelled and towed tube and rocket artillery
- Surface and Sub-Surface Fleets including Frigates and Corvettes
- Anti-Ship Batteries
- Anti-submarine Warfare
- Maritime and EEZ Patrol/Surveillance
- Coastal Defenses
- Air Defense Systems
- Combat and Transport Aircraft
- Medium-lift Helicopters
- Combat Aircraft Avionics
- Unmanned Aerial Vehicles
- C4ISR Systems
- Law Enforcement
- Armoured Personnel Carriers
- Armoured VIP Vehicles
- Security Systems
- Border Security & Control
- Optics & Optronics
- Population: More than 96 million
- Personnel joining military service annually: Over 1.6 million
- Active personnel in the military: nearly half a million
- Personnel in Reserve: over 5 million
- Aircraft strength: nearly 300
- Combat tanks: more than 1,500
- Naval assets: nearly 70 ships
- Maritime security: 3,300km coastline facing the East Sea (South China Sea) with 50 percent of its population living along the coast, hence maritime is its greatest security threat.
- It is commonly quoted that Vietnam is now ranked 20th out of 136 Countries in the Global Firepower (GFP) List and hence a military power to be reckoned with in the region.
and many more ..
Vietnam has nearly half a million active personnel and over five million in reserve, making the defense and security market in Vietnam one that all industry players must participate in.
VIETNAM Military Facts