Finnish Defense Market sizes and predictions for growth

MarketResearchReports.Biz presents this most up-to-date research on "Future of the Finnish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023".

Finland is a geo-strategically vital base due to its vicinity to Russia. The political and military development in Russia significantly influences the country’s security. The Baltic Sea is a predominant logistic transport corridor for Finland, and Russia’s rising interests in this area is likely to impact the security of the country. The Finnish annual defense budget stands at US$3.5 Billion in 2018, and is expected to grow at a CAGR of 11.25% over the forecast period.

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Defense expenditure as a percentage of Gross Domestic Product (GDP) recorded an average of 1.3% during 2014–2018. As a result of the government’s effort to reduce debt and focus on enhancing employment within the country, it is expected to increase to 1.7% in the forecast period.

Finland capital expenditure is expected to increase significantly registering a CAGR of 10.80% during the forecast period. The Finnish Defence Ministry is expected to procure fighters and multi-role aircraft, corvettes and land based C4ISR. Furthermore, during the forecast period, Finland is expected to allocate as much as 67.6% of its defense budget towards revenue expenditure, which will be used to pay pension allowances to retired military personnel, salaries, training and other administrative activities.

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During 2014–2018, Finland’s Homeland Security (HLS) expenditure was driven by the continuing problems of illicit drug trading and human trafficking across its eastern border with Russia, along with cyber-crimes. However, with much of the illegal migration from the Middle Eastern countries now subsiding, the country’s homeland security expenditure is anticipated to marginally decline over the forecast period. The expenditure is anticipated to increase at a CAGR of 3.82% during the forecast period. Finland is anticipated to spend significantly on border security, cyber security, and surveillance systems.

The report ""Future of the Finnish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023"" offers detailed analysis of the Finnish defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

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In particular, it provides an in-depth analysis of the following -

The Finnish defense industry market size and drivers: Detailed analysis of the Finnish defense industry during 2019–2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s expenditure and modernization patterns.
Budget allocation and key challenges: Insights into procurement schedules formulated within the country and a breakdown of the defense budget. It also details the key challenges faced by defense market participants within the country.
Porter’s Five Force analysis of the Finnish defense industry: analysis of the market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry.
Import and Export Dynamics: Analysis of prevalent trends in the country’s imports and exports over the last five years.
Market opportunities: Details of the top five defense investment opportunities over the next 10 years.
Competitive landscape and strategic insights: Analysis of the competitive landscape of the Finnish defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Companies mentioned in this report: Elektrobit Corporation, Kiitokori Oy , Millog Oy, Nammo Lapua Oy, Patria, Patricomp Oy, and Temet Oy

Scope

Finland’s total defense expenditure stands at US$3.5 billion in 2018, and is expected to grow at a CAGR of 11.25% over the forecast period, to reach US$5.6 billion in 2023. Finnish defense expenditure is primarily driven by participation in peacekeeping initiatives, the soldier modernization program, naval fleet modernization initiatives and the procurement of advanced technology equipment. Finland is an active participant in the crisis management programs mandated by the United Nations (UN). The Finnish defense industry is expected to focus its expenditure on Leopard 2A6 main battle tanks, multi-role aircraft, modernizing corvettes and acquiring land based C4ISR systems.
Finnish defense capital expenditure is expected to increase from US$2.5 billion in 2019 to US$3.4 billion in 2023, growing at a CAGR of 7.63%. The Finnish Defense Ministry is expected to procure multirole fighter aircraft, search and rescue helicopters, armored vehicles, main battle tanks, cyber security, a joint strike missile (JSM) system, and submarines. Revenue expenditure is expected to increase from US$4.6 billion in 2019 to US$5.5 billion in 2023, attributed to additional training and development programs that are to be undertaken over the forecast period.
The country is anticipated to spend significantly on fighters and multirole aircraft, land-based C4ISR, corvettes, in addition to cyber security, surveillance systems, airport security, biometric systems, video-surveillance systems, training, and cyber security software during the forecast period.

Reasons to buy

This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Finnish defense industry market trends for the coming five years
The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period
Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins, and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
A deep qualitative analysis of the Finnish defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts

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