Philippines Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028
The Philippine Department of National Defense (DND) signing a contract with PZL Mielec, a Lockheed Martin company, to manufacture 32 S-70 Black Hawk utility helicopters for the Philippine Air Force is one of the major procurement programs of the country.
The Philippines’ comprehensive security doctrine is focused on the acquisition of a wide range of security assets, to establish diplomatic and geographic advantages. The Philippines is also aiming to develop robust military capabilities through its ambitious Horizon I, II, and III programs to ensure tranquility, peace, and stability.
The key sectors in the Philippines defense market are naval vessels and surface combatants, military fixed-wing aircraft, military rotorcraft, military land vehicles, missiles and missile defense systems, and submarines among others. Between 2023 and 2028, naval vessels and surface combatants is expected to rank as the leading sector in the Philippines defense market, while military fixed-wing is set to rank as the second-largest sector.
Some of the leading defense companies in Philippines are Philippine Aerospace Development Corporation, Elbit Systems, General Atomics Aeronautical Systems, Mil Moscow Helicopters Plant JSC, PZL Mielec, Bell Helicopter Textron, Boeing, and Korea Shipbuilding Corporation among others.