Future of the Norwegian Defense Industry 2018-2023 - Expenditure is Expected to Grow at a CAGR of 10.23% Over the Forecast Period

DUBLIN, June 28, 2018 /PRNewswire/ --

The "Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

Norway's total defense expenditure values US$6.8 billion in 2018 and is expected to reach US$8.3 billion by 2023. 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 F35 fighter aircraft, the Norwegian All Weather Search and Rescue Helicopter (NAWSARH) program, maritime patrol aircraft, Advanced Medium Range AirtoAir 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.

During 2014-2018, the average capital expenditure allocation stood at 29.4% of the total defense budget, and is expected to increase to 38.2% during the forecast period.

Norwegian defense capital expenditure is expected to increase from US$2.5 billion in 2019 to US$3.4 billion in 2023, growing at a CAGR of 7.63%. 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$4.6 billion in 2019 to US$5.5 billion in 2023, attributed to additional training and development programs that are to be undertaken over the forecast period.

Norwegian homeland security expenditure (HLS) stands at US$7 billion in 2018, reflecting a CAGR of 7.33% over 2014-2018. Over the forecast period, the budget is expected to grow from US$8.4 billion in 2019 to US$12.3 billion in 2023, driven by the government's efforts to curb the continuing problems of terrorism and cybercrimes.

The country is anticipated to spend significantly on cyber security, surveillance systems, airport security, biometric systems, videosurveillance systems, training, and cyber security software during the forecast period.

Key Topics Covered

1. Introduction
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. About the Publisher

2. Executive Summary

3. Market Attractiveness and Emerging Opportunities
3.1. Current Market Scenario
3.1.1. Primary Threat Perception
3.1.2. Military Doctrine and Strategy
3.1.3. Military Fleet Size
3.1.4. Procurement Programs
3.1.5. Ongoing Procurement Programs
3.1.6. Future Procurement Programs
3.1.7. Top Procurement Programs By Value (US$ Million) 2018-2023
3.1.8. Social, Political and Economic Environment and Support for Defense Projects
3.1.9. Political and Strategic Alliances
3.2. Defense Market Size, Historical and Forecast
3.2.1. Norwegian defense budget will grow at a CAGR of 4.51% over 2019-2023
3.2.2. Modernizing the armed forces, participating in international peacekeeping operations, and an interest in the Arctic region are the main factors driving the Norwegian defense industry
3.2.3. Defense expenditure as a percentage of GDP is expected to average 1.75% during the forecast period
3.3. Analysis of Defense Budget Allocation
3.3.1. Capital expenditure allocation is expected to increase over the forecast period
3.3.2. Capital expenditure to increase at a CAGR of 7.63% over 2019-2023
3.3.3. Expenditure on the 'others' segment expected to be the largest during the forecast period
3.3.4. Others' segment to continue accounting for the largest share of the Norwegian defense budget
3.3.5. Per capita defense expenditure set to decrease over the forecast period
3.4. Homeland Security Market Size and Forecast
3.4.1. Norwegian homeland security expenditure is expected to grow at a CAGR of 10.23% over the forecast period
3.4.2. Counter-terrorism and enhanced cyber security are expected to drive homeland security expenditure
3.4.3. Norway falls under the some risk terrorism category
3.4.4. Norway faces moderate level of threat from foreign terrorist organizations
3.4.5. Norway has a terrorism index score of 0
3.5. Benchmarking with Key Global Markets
3.5.1. Norwegian defense budget expenditure expected to increase over the forecast period
3.5.2. Norway has one of the fastest-growing defense industries in Europe
3.5.3. Norwegian defense budget as a percentage of GDP is expected to grow over the forecast period
3.6. Market Opportunities: Key Trends and Growth Stimulators
3.6.1. Top 10 Defense market sectors by value (US$ Million) - Projections over period 2018-2023
3.6.2. Fighters and Multirole aircraft
3.6.3. Diesel Electric Submarine
3.6.4. Military IT-Networking

4. Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Norwegian defense imports are expected to increase over the forecast period
4.1.2. The US and Italy are the largest arms suppliers to Norway
4.1.3. Aircraft accounted for the largest percentage share of overall defense imports
4.2. Export Market Dynamics
4.2.1. Norway was among the top 20 countries with the highest volume of defense exports
4.2.2. Exports to European countries are expected to increase over the forecast period
4.2.3. The air defense systems category accounted for the majority of Norway's defense exports during 2012-2016

5. Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining Power of Supplier: Low
5.1.2. Bargaining Power of Buyer: High
5.1.3. Barrier to Entry: Medium
5.1.4. Intensity of Rivalry: High
5.1.5. Threat of Substitution: High

6. Market Entry Strategy
6.1. Budgeting Process
6.2. Procurement Policy and Process
6.3. Market Regulation
6.3.1. The Norwegian defense industry is largely driven by government regulation and offset policy
6.3.2. The Norwegian government supports FDI
6.4. Market Entry Route
6.4.1. Entry through Joint Development Programs
6.4.2. Foreign Military Sales (FMS) to Norway
6.4.3. Collaborations provide market entry opportunities
6.5. Key Challenges
6.5.1. The Norwegian government prefers Scandinavian and European countries for defense trade
6.5.2. The Norwegian export policy poses a challenge for domestic defense companies

7. Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.2. Key Public Sector Companies
7.2.1. Kongsberg Defense Systems: Overview
7.2.2. Kongsberg Defense Systems: Product Focus
7.2.3. Kongsberg Defense Systems: Recent Announcements and Strategic Initiatives
7.2.4. Kongsberg Defense Systems: Alliances
7.2.5. Kongsberg Defense Systems: Recent Contract Wins
7.2.6. Forsvarets ForskningsInstitutt: Overview
7.2.7. Forsvarets ForskningsInstitutt: Product Focus
7.2.8. Forsvarets ForskningsInstitutt: Recent Announcements and Strategic Initiatives
7.2.9. Forsvarets ForskningsInstitutt: Alliances
7.2.10. Forsvarets ForskningsInstitutt: Recent Contract Wins
7.2.11. NAMMO AS: Overview
7.2.12. NAMMO AS: Product Focus
7.2.13. NAMMO AS: Recent Announcements and Strategic Initiatives
7.2.14. NAMMO AS: Alliances
7.2.15. NAMMO AS: Recent Contract Wins
7.2.16. Kitron: Overview
7.2.17. Kitron: Product Focus
7.2.18. Kitron: Recent Announcements and Strategic Initiatives
7.2.19. Kitron: Alliances
7.2.20. Kitron: Recent Contract Wins
7.2.21. Kitron: Financial Analysis
7.3. Key Private Sector Companies
7.3.1. Thales Norway AS: Overview
7.3.2. Thales Norway AS: Product Focus
7.3.3. Thales Norway AS: Recent Announcements and Strategic Initiatives
7.3.4. Thales Norway AS: Alliances
7.3.5. Thales Norway AS: Recent Contract Wins
7.3.6. Umoe Mandal: Overview
7.3.7. Umoe Mandal: Product and Services Focus
7.3.8. Umoe Mandal: Recent Announcements and Strategic Initiatives
7.3.9. Umoe Mandal: Alliances
7.3.10. Eidsvoll Electronics AS: Overview
7.3.11. Eidsvoll Electronics AS: Product Focus
7.3.12. Eidsvoll Electronics AS: Recent Announcements and Strategic Initiatives
7.3.13. Eidsvoll Electronics AS: Alliances
7.3.14. Eidsvoll Electronics AS: Recent Contract Wins

8. Business Environment and Country Risk
8.1. Economic Performance
8.1.1. GDP Per Capita at Constant Prices
8.1.2. GDP at Current Prices (US$)
8.1.3. Exports of Goods and Services (current LCU bn)
8.1.4. Imports of Goods and Services (current LCU bn)
8.1.5. Gross National Disposable Income (US$ billion)
8.1.6. LCU per US$
8.1.7. Market Capitalization of Listed Companies (US$ bn)
8.1.8. Market Capitalization of Listed Companies (% of GDP)
8.1.9. Total Government Cash Surplus/Deficit (LCU billion)
8.1.10. Government Cash Surplus/Deficit as a Percentage of GDP (LCU)
8.1.11. Goods Exports as a Percentage of GDP
8.1.12. Goods Imports as a Percentage of GDP
8.1.13. Services Imports as a Percentage of GDP
8.1.14. Service Exports as a Percentage of GDP
8.1.15. Foreign Direct investment, Net (BoP, current US$ billions)
8.1.16. Net Foreign Direct Investment as a Percentage of GDP
8.1.17. Mining, Manufacturing, Utilities Output (US$ billion)

For more information about this report visit https://www.researchandmarkets.com/research/sr5gw3/future_of_the?w=5

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