Norway Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

Norway Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

Summary

Norway 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.

Norwegian military expenditure increased significantly in the historic period, increasing from $6.6 billion in 2020 to $7.9 Billion in 2023 due to a commitment to modernization as well as increasing pressure to meet NATO targets. Growth is expected to increase in the forecast period, with a 2024-2028 CAGR calculated at 4.2% compared to 2.3% for 2019-2023. Norway's defense budget is forecast to grow from $7.8 billion in 2024 to $9.2 billion in 2028, facilitating Norwegian military spending and acquisitions.

Key Highlights

• Drivers of Defense expenditure include Modernization programs, NATO targets, and Internal operations
• Major ongoing procurement program include procurement of F-35A, Type 212 submarines, Leopard-27A Main Battle tanks

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 Norwegian 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 -

• Norwegian defense budget: detailed analysis of Norway's 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 Norwegian military doctrine and strategy to provide a comprehensive overview of Norwegian military procurement regulation.
• Security Environment: political alliances and perceived security threats to Norway 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 Norway's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the Norwegian 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 Norwegian 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 Norwegian 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 Norwegian 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