Finland Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Finland Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

Summary

Finland Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Finland’s defense budget has seen a brief period of fluctuation in its historic period owing to the initiation of major payments for its ongoing acquisition of F-35 fighter aircraft beginning in 2021, seeing overall spending from 2021-22 decrease by $0.3 billion. Overall, however for this period the spending increased by a total of $1.9 billion, going from $3.5 billion in 2019 to $5.4 billion by 2022. Expenditure increases sharply again in 2023 where final defense spending for the year is anticipated to reach $6.3 billion. Cumulatively, this would make the total 2019-23 spend $24.5 billion, at a CAGR of 15.5%. GlobalData’s current forecast holds that the 2024-28 period will see a total of $37 billion spent on defense instead, for a CAGR of 7% for this period.

Key Highlights

• Drivers of Defense expenditure include recent membership of NATO, Baltic security issues and the Russo-Ukrainian war.
• Major ongoing procurement programs include procurement of F-35, K9 155mm howitzers, and new corvettes and patrol vessels

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers detailed analysis of Finland defense market 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 -

• Finland defense budget: detailed analysis of Finland 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and process is explained. This is coupled with an analysis of Finland military doctrine and strategy to provide a comprehensive overview of Finland military procurement regulation.
• Security Environment: political alliances and perceived security threats to Finland are examined; there help to explain trends in spending and modernisation.
• Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
• Competitive landscape and strategic insights: analysis of the competitive landscape of Finland's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Finnish defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Finnish market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the Finland defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the Finland government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available