BANGKOK ― More than 400 arms manufacturers from some 50 countries around the globe gathered to explore opportunities for future exports and technological sharing at a tradeshow in Thailand on Monday. 

Defense & Security 2015 kicked off in the Southeast Asian country’s capital for a four-day run, drawing the highest number of participating countries and businesses since its launch in 2003. 

Nine major ship and aircraft makers and other arms producers are running booths at a 424-square-meter Korean pavilion, including Daewoo Shipbuilding & Marine Engineering, Korea Aerospace Industries, Poongsan, S&T Motiv and Hanwha, as well as 13 small and midsized contractors. 

They are pinning high hopes to expand or make their foray into the growing Thai and broader regional markets, which had long been dominated by the U.S., the U.K., China and other traditional military powerhouses, especially since the export of four trainer jets last September by KAI and a 209-ton class frigate in 2013 by DSME. 

In a major achievement on the sidelines of the exhibition, Poongsan, a Seoul-based leading bullet maker, clinched a deal with the Thai government to deliver rifle ammunitions worth $15 million won. 

“Since we secured the order for the Thai Navy’s first frigate, we were in a better position to win that for second and third ones,” a DSME official said, adding that Bangkok was expected to announce a new bid in one to two years. 

Lee Jong-duk, director of the international affairs division at the Korea Defense Industry Association, said the participating companies were selected after a prior market research and analysis on their sales potential. 

“Despite the relatively short history of our defense industry in international markets, our growing technological capabilities have improved the overall image of our products and are thus brightening the outlook for additional exports to the region.” 

To better counter consistent threats of terrors, rebels and pirates, Bangkok is forecast to bring in additional military equipment, pushing the market to grow more than eightfold from now to $202 million in 2023, according to Seoul’s Defense Agency for technology and Quality. 

With its local defense sector heavily relying on overseas purchases, however, Thailand is turning to partners who can provide not only cutting-edge weapons but also technologies required for production, a possible plus for Korean manufacturers. 

“We expect to buy more Korean weapons systems based on our high confidence in its technological power,” said Air Chief Marshal Pongsatorn Buasup, chair of the board of directors at the Thai Defense Technology Institute, during his visit to Hanwha Thales. 

“In the future, we hope not only to purchase them but also produce them jointly with Korea through technological sharing and cooperation in research and development.” 

By Shin Hyon-hee, Korea Herald Correspondent (heeshin@heraldcorp.com)