Finnish Defense Market - Attractiveness, Competitive Landscape and Forecasts to 2024
September 2019
69
About the Report
About the Report
Finnish Defense Market-Attractiveness, Competitive Landscape and Forecasts to 2024
Summary
Finnish Defense Industry-Attractiveness, Competitive Landscape and Forecasts to 2024, published by Strategic Defence Intelligence, 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 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.
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
Scope
- Finland's total defense expenditure stands at USD 0.60 billion in 2018, and is expected to grow at a CAGR of 6.66% over the forecast period, to reach USD 0.84 billion in 2024. 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 USD 0.22 billion in 2019 to USD 0.42 billion in 2024, growing at a CAGR of 14.77%. 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 USD 0.38 billion in 2019 to USD 0.42 billion in 2024, 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
Products
Products
Defense, budget, offset, regulation, capital expenditure, homeland, drivers, market opportunities, procurement, entry route, key challenge, announcements, alliances, contract awards, financial analysis, business environment
Companies
Patria
Krauss-Maffei Wegmann
Maschinenbau Kiel
Hollming Oy
Marine Alutech
Raytheon
Denel dynamics
Table of Contents
Table of Contents
Table of Contents
1 Introduction
1.1 What is this Report About?
1.2 Definitions
1.3 Summary Methodology
1.4 About GlobalData
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
3.1 Current Market Scenario
3.1.1 Procurement Programs
Ongoing Procurement Programs
Future Procurement Programs
3.1.2 Top Procurement Programs By Value (USD Million), 2018-2023
3.2 Key Drivers and Challenges
3.3 Defense Market Size Historical and Forecast
3.3.1 Finnish defense budget to grow at a CAGR of 6.66% over 2020-2024
3.3.2 Modernization programs, international peacekeeping missions, and a perceived security threat from Russia are the main factors driving Finnish defense expenditure
3.4 Analysis of Defense Budget Allocation
3.4.1 Defense expenditure as a percentage of GDP to reach 0.26% by 2024
3.4.2 Revenue expenditure allocation expected to increase over the forecast period
3.4.3 Capital expenditure expected to grow at a CAGR of 14.65% over the forecast period
3.4.4 Per capita defense expenditure expected to increase over the forecast period
3.5 Homeland Security Market Size and Forecast
3.5.1 Homeland security expenditure is expected to grow at a CAGR of 1.61% over the forecast period
3.5.2 Homeland security expenditure in Finland is mainly driven by organized crime and maritime security threats
3.6 Benchmarking with Key Global Markets
3.6.1 Finnish defense budget to increase at a CAGR of 6.66% over 2020-2024
3.6.2 Finnish defense expenditure is small compared to the leading spenders
3.6.3 Finland trails behind European states in terms of defense spending
3.7 Market Opportunities: Key Trends and Drivers
3.7.1 Top 10 Defense Market Sectors by Value (USD Million)-Projections over 2019-2024
4 Defense Procurement Market Dynamics
4.1 Import Market Dynamics
4.1.1 Defense imports are expected to increase over the forecast period
4.1.2 European countries, including Italy, Sweden, and France, were the major suppliers to Finland during 2014-2018
4.1.3 Missiles, sensors and armored vehicles constitute the majority of Finnish arms imports
4.2 Export Market Dynamics
4.2.1 Finnish exports are expected to grow over the forecast period
4.2.2 EU countries account for the majority of Finnish defense exports
4.2.3 Armored vehicles are the largest exported defense hardware
5 Market Entry Strategy
5.1 Market Regulation
5.1.1 The government encourages offsets in order to develop a domestic defense industrial base
5.1.2 Finnish defense sector is open to foreign direct investments
5.2 Market Entry Route
5.2.1 Budgeting Process
5.2.2 Procurement Policy and Process
5.2.3 Partnerships with domestic defense firms offer attractive market entry route
5.2.4 Foreign OEMs gain industry access through joint R&D programs
5.2.5 Foreign military sales to Finnish defense market
5.2.6 Collaborations provide market entry opportunities
6 Competitive Landscape and Strategic Insights
6.1 Competitive Landscape Overview
7 Business Environment and Country Risk
7.1 Economic Performance
7.1.1 GDP per Capita at Constant Prices
7.1.2 GDP at Current Prices (USD )
7.1.3 Exports of Goods and Services (Current LCU Billion)
7.1.4 Imports of Goods and Services (Current LCU Billion)
7.1.5 Gross National Disposable Income (USD Billion)
7.1.6 LCU per USD (Period Average)
7.1.7 Market Capitalization of Listed Companies (USD Billion)
7.1.8 Market Capitalization of Listed Companies (% of GDP)
7.1.9 Government Cash Surplus/Deficit as a Percentage of GDP (LCU)
7.1.10 Goods Exports as a Percentage of GDP
7.1.11 Goods Imports as a Percentage of GDP
7.1.12 Services Imports as a Percentage of GDP
7.1.13 Services Exports as a Percentage of GDP
7.1.14 Foreign Direct Investment, net (BoP, Current USD Billion)
7.1.15 Net Foreign Direct Investment as a Percentage of GDP
7.1.16 Mining, Manufacturing, Utilities Output (LCU Billion)
8 Appendix
8.1 About GlobalData
8.2 Disclaimer
List of Figure
List of Figures
Figure 1: Finnish Defense Budget: 2020 and 2024
Figure 2: Finnish Defense Imports/Exports: 2014 and 2018
Figure 3: Finland's Top Three Prospective Procurements/Developments
Figure 4: Finnish Defense Expenditure (EUR Billion), 2015-2024
Figure 5: Finnish Defense Expenditure (USD Billion), 2015-2024
Figure 6: Finnish GDP Growth vs Defense Expenditure as a Percentage of GDP, 2015-2024
Figure 7: Finnish Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2024
Figure 8: Finnish Capital Budget Allocation (EUR Million), 2015-2024
Figure 9: Finnish Capital Budget Allocation (USD Billion), 2015-2024
Figure 10: Finnish Per Capita Defense Expenditure (USD ), 2015-2024
Figure 11: Finnish Homeland Security Budget (EUR Billion), 2015-2024
Figure 12: Finnish Homeland Security Budget (USD Billion), 2015-2024
Figure 13: Benchmarking with Key Markets, 2015-2019 vs 2020-2024
Figure 14: Benchmarking with World's Largest Defense Spenders (USD Billion), 2019 and 2024
Figure 15: Benchmarking with Large Defense Spenders as a Percentage of GDP-2019
Figure 16: Finnish Defense Imports (USD Million), 2014-2018
Figure 17: Finnish Defense Imports by Country (%), 2014-2018
Figure 18: Finnish Defense Imports by Category, 2014-2018
Figure 19: Finnish Defense Export Trend (USD Million), 2014-2018
Figure 20: Finnish Defense Exports by Country (%), 2014-2018
Figure 21: Finnish Defense Exports by Category, 2014-2018
Figure 22: Finland Budgeting Process
Figure 23: Finnish GDP Per Capita at Constant Prices (USD ), 2015-2025
Figure 24: Finnish GDP at (Current USD Billion), 2015-2025
Figure 25: Finnish Exports of Goods and Services (LCU Billion), 2005-2014
Figure 26: Finnish Imports of Goods and Services (LCU Billion), 2005-2014
Figure 27: Finnish Gross National Disposable Income (USD Billion), 2005-2013
Figure 28: Finland LCU per USD , 2015-2024
Figure 29: Finnish Market Capitalization of Listed Companies (USD Billion), 2005-2012
Figure 30: Finnish Market Capitalization of Listed Companies (% of GDP), 2005-2012
Figure 31: Finnish Government Cash Surplus/Deficit as a Percentage of GDP (LCU), 2005-2012
Figure 32: Finnish Goods Exports as a Percentage of GDP (%), 2005-2013
Figure 33: Finnish Goods Imports as a Percentage of GDP (%), 2005-2013
Figure 34: Finnish Services Imports as a Percentage of GDP (%), 2005-2013
Figure 35: Finnish Service Exports as a Percentage of GDP (%), 2005-2013
Figure 36: Finnish Foreign Direct Investment, net (BoP, Current USD Billion), 2005-2013
Figure 37: Finnish Net Foreign Direct Investment as a Percentage of GDP, 2005-2013
Figure 38: Finnish Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014
List of Table
List of Tables
Table 1: Finnish Ongoing Procurement Programs
Table 2: Finnish Future Procurement Programs
Table 3: Top Finnish Defense Procurement Programs by Value (USD Million), 2018-2023
Table 4: Finnish Defense Expenditure (EUR Billion and USD Billion), 2015-2024
Table 5: Finnish GDP Growth vs Defense Expenditure as Percentage of GDP Growth, 2015-2024
Table 6: Finnish Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2024
Table 7: Finnish Defense Capital Expenditure (EUR Billion and USD Billion), 2015-2024
Table 8: Finnish Per Capita Defense Expenditure (USD ), 2015-2024
Table 9: Finnish Homeland Security Expenditure (EUR Billion and USD Billion), 2015-2024
Table 10: Benchmarking with Key Markets: 2015-2019 vs 2020-2024
Table 11: Top 10 Finnish Defense Market Sectors by Value (USD Million)-2019-2024
Table 12: Offset Regulations in Finland
Table 13: Offset Multiplier Categories
Table 14: Top Defense Suppliers in the Finnish Defense Industry-By Value (USD Million) 2019-2024
Table 15: Competitive Landscape in the Finnish Defense Market
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