Norwegian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024
Norwegian Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024, published by GlobalData, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key news.
This report offers detailed analysis of the Norwegian 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.
In particular, it provides an in-depth analysis of the following -
- The Norwegian defense industry market size and drivers: detailed analysis of the Norwegian defense industry during 2020-2024, 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 Norwegian 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 Norwegian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis
- Norway’s total defense expenditure values US$6.8 billion in 2018 and is expected to reach US$6.7 billion by 2024. This can be attributed to military modernization initiatives and training programs that are expected to be executed during the forecast period. A considerable portion of the budget is anticipated to be directed towards the procurement of military aircraft such as the F-35 fighter aircraft, the Norwegian All Weather Search and Rescue Helicopter (NAWSARH) program, maritime patrol aircraft, Advanced Medium Range Air-to-Air Missiles (AMRAAM), the soldier modernization program, cyber security, and the purchase of military tactical trucks. In addition, the defense budget is expected to be driven by the country’s participation in peacekeeping initiatives.
- Norwegian defense capital expenditure is expected to increase from US$2.7 billion in 2020 to US$3.5 billion in 2024, growing at a CAGR of 6.67%. The Norwegian 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$4.3 billion in 2020 to US$4.9 billion in 2024, attributed to additional training and development programs that are to be undertaken over the forecast period.
- Norwegian homeland security expenditure (HLS) stands at US$4.7 billion in 2019, reflecting a CAGR of 1.76% over 2015-2019. Over the forecast period, the budget is expected to grow from US$5.4 billion in 2020 to US$8.9 billion in 2024, driven by the government’s efforts to curb the continuing problems of terrorism and cyber-crimes. The country is anticipated to spend significantly on 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 Norwegian 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 Norwegian defense industry covering sections including demand drivers, Porter’s Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts