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https://www.reportscorner.com/reports/22396/Future-of-the-Finnish-Defense-Industry---Market-Attractiveness,-Competitive-Landscape-and-Forecasts-to-2018/
Product Synopsis
This report is the result of SDI's extensive market and company research covering the Finnish defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the Finnish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Finnish defense industry.
What is the current market landscape and what is changing?
Finnish defense expenditure decreased at a CAGR of -0.74% during the review period and values US$3.8 billion in 2013. The focus of the Finnish government will be on the modernization of its armed forces, participation in peacekeeping operations, and the perceived threat from Russia.
What are the key drivers behind recent market changes?
Military modernization, threats from Russia, and participation in peacekeeping missions are the main factors driving the Finnish defense industry.
What makes this report unique and essential to read?
The Future of the Finnish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Finnish defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in Finland. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
Finland has been perceived as a country with low levels of corruption. However, since 2006, three alleged instances of bribery and corruption involving the country's defense sector have been highlighted. As a result, the country's ranking in the Transparency International Corruption Perceptions Index has been dropping since 2007.
The Finnish defense budget deficit in 2011 stood at US$10.6 billion, due to which the country is compelled to reduce its defense budget in the next ten years. The Ministry of Defense is currently contemplating reductions of US$90 million in its defense budget for 2013-2014, which may eventually lead to the cancellation of defense related projects and air defense modernization projects. A potential cut to Finland's defense budget is an area of concern for foreign investors. This prospect deters the entry of foreign investors into the nation's defense sector.
Key Highlights
In order to increase defense exports and cater to the international arms market, the Finnish government encourages domestic defense companies to collaborate with foreign defense firms. Conversely, foreign investors seek to capitalize on Finnish defense capabilities through the joint development of military hardware. Additionally, the country is focused on defense collaboration with other Nordic countries, thereby enhancing the domestic industrial capabilities of Finland, Norway, and Sweden, and forming a consolidated defense industry. For example, the country jointly established Nammo in 1998 through the merger of the ammunition activities of Raufoss ASA, which is based in Norway, and Celcius AB, which is based in Sweden.
During 2008-2012, Italy emerged as the largest supplier of defense systems to Finland with a share of 23% of total imports, followed by Switzerland with 20.3%, and Sweden with 16.2%. In 2008, Switzerland supplied 45.8% of the Finnish imports while France, with a 22.4% share, was the second largest supplier to the country. Due to the economic crisis during 2008-2009, defense imports slumped by 72.6%, declining from US$157 million during 2008 to US$43 million in 2009. During the forecast period it is expected that Sweden, France, and Italy will continue to be strong defense trade partners for the country.
The procurement deal signed with Croatia in 2007 meant that armored vehicles were the largest contributor to Finnish defense exports with 53.2% share during 2008-2012 followed by ships with 20%. However, from 2008 onwards, Finland made no exports of ships. During the forecast period, it is anticipated that armored vehicles will continue to dominate the country's arms exports due to an increase in the global demand for this product.
https://www.reportscorner.com/reports/22396/Future-of-the-Finnish-Defense-Industry---Market-Attractiveness,-Competitive-Landscape-and-Forecasts-to-2018/
Product Synopsis
This report is the result of SDI's extensive market and company research covering the Finnish defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the Finnish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Finnish defense industry.
What is the current market landscape and what is changing?
Finnish defense expenditure decreased at a CAGR of -0.74% during the review period and values US$3.8 billion in 2013. The focus of the Finnish government will be on the modernization of its armed forces, participation in peacekeeping operations, and the perceived threat from Russia.
What are the key drivers behind recent market changes?
Military modernization, threats from Russia, and participation in peacekeeping missions are the main factors driving the Finnish defense industry.
What makes this report unique and essential to read?
The Future of the Finnish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Finnish defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in Finland. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
Finland has been perceived as a country with low levels of corruption. However, since 2006, three alleged instances of bribery and corruption involving the country's defense sector have been highlighted. As a result, the country's ranking in the Transparency International Corruption Perceptions Index has been dropping since 2007.
The Finnish defense budget deficit in 2011 stood at US$10.6 billion, due to which the country is compelled to reduce its defense budget in the next ten years. The Ministry of Defense is currently contemplating reductions of US$90 million in its defense budget for 2013-2014, which may eventually lead to the cancellation of defense related projects and air defense modernization projects. A potential cut to Finland's defense budget is an area of concern for foreign investors. This prospect deters the entry of foreign investors into the nation's defense sector.
Key Highlights
In order to increase defense exports and cater to the international arms market, the Finnish government encourages domestic defense companies to collaborate with foreign defense firms. Conversely, foreign investors seek to capitalize on Finnish defense capabilities through the joint development of military hardware. Additionally, the country is focused on defense collaboration with other Nordic countries, thereby enhancing the domestic industrial capabilities of Finland, Norway, and Sweden, and forming a consolidated defense industry. For example, the country jointly established Nammo in 1998 through the merger of the ammunition activities of Raufoss ASA, which is based in Norway, and Celcius AB, which is based in Sweden.
During 2008-2012, Italy emerged as the largest supplier of defense systems to Finland with a share of 23% of total imports, followed by Switzerland with 20.3%, and Sweden with 16.2%. In 2008, Switzerland supplied 45.8% of the Finnish imports while France, with a 22.4% share, was the second largest supplier to the country. Due to the economic crisis during 2008-2009, defense imports slumped by 72.6%, declining from US$157 million during 2008 to US$43 million in 2009. During the forecast period it is expected that Sweden, France, and Italy will continue to be strong defense trade partners for the country.
The procurement deal signed with Croatia in 2007 meant that armored vehicles were the largest contributor to Finnish defense exports with 53.2% share during 2008-2012 followed by ships with 20%. However, from 2008 onwards, Finland made no exports of ships. During the forecast period, it is anticipated that armored vehicles will continue to dominate the country's arms exports due to an increase in the global demand for this product.
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