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Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

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Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023

Summary

The Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2023, 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.

Synopsis

This report offers detailed analysis of the Norwegian 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 Norwegian defense industry market size and drivers: detailed analysis of the Norwegian defense industry during 2019-2023, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the countrys 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
- Porters Five Force analysis of the Norwegian 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 countrys 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 Norwegian defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Scope

- Norways 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 F-35 fighter aircraft, the Norwegian All Weather Search and Rescue Helicopter (NAWSARH) program, maritime patrol aircraft, Advanced Medium Range Air-to-Air 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 countrys 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 governments efforts to curb the continuing problems of terrorism and cyber-crimes. The country is anticipated to spend significantly on 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 Norwegian 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 Norwegian defense industry covering sections including demand drivers, Porters Five Forces Analysis, Key Trends and Growth Stimulators, and latest industry contracts
1. Introduction 8
1.1. What is this Report About? 8
1.2. Definitions 8
1.3. Summary Methodology 11
1.4. About Strategic Defence Intelligence 12
2. Executive Summary 13
3. Market Attractiveness and Emerging Opportunities 15
3.1. Current Market Scenario 16
3.1.1. Primary Threat Perception 16
3.1.2. Military Doctrine and Strategy 17
3.1.3. Military Fleet Size 18
3.1.4. Procurement Programs 20
3.1.5. Ongoing Procurement Programs 20
3.1.6. Future Procurement Programs 21
3.1.7. Top Procurement Programs By Value (US$ Million) 2018-2023 22
3.1.8. Social, Political and Economic Environment and Support for Defense Projects 23
3.1.9. Political and Strategic Alliances 24
3.2. Defense Market Size, Historical and Forecast 25
3.2.1. Norwegian defense budget will grow at a CAGR of 4.51% over 2019-2023 25
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 27
3.2.3. Defense expenditure as a percentage of GDP is expected to average 1.75% during the forecast period 29
3.3. Analysis of Defense Budget Allocation 31
3.3.1. Capital expenditure allocation is expected to increase over the forecast period 31
3.3.2. Capital expenditure to increase at a CAGR of 7.63% over 2019-2023 33
3.3.3. Expenditure on the others segment expected to be the largest during the forecast period 36
3.3.4. Others segment to continue accounting for the largest share of the Norwegian defense budget 38
3.3.5. Per capita defense expenditure set to decrease over the forecast period 42
3.4. Homeland Security Market Size and Forecast 44
3.4.1. Norwegian homeland security expenditure is expected to grow at a CAGR of 10.23% over the forecast period 44
3.4.2. Counter-terrorism and enhanced cyber security are expected to drive homeland security expenditure 46
3.4.3. Norway falls under the some risk terrorism category 47
3.4.4. Norway faces moderate level of threat from foreign terrorist organizations 48
3.4.5. Norway has a terrorism index score of 0 50
3.5. Benchmarking with Key Global Markets 51
3.5.1. Norwegian defense budget expenditure expected to increase over the forecast period 51
3.5.2. Norway has one of the fastest-growing defense industries in Europe 53
3.5.3. Norwegian defense budget as a percentage of GDP is expected to grow over the forecast period 54
3.6. Market Opportunities: Key Trends and Growth Stimulators 55
3.6.1. Top 10 Defense market sectors by value (US$ Million) - Projections over period 2018-2023 55
3.6.2. Fighters and Multirole aircraft 56
3.6.3. Diesel Electric Submarine 57
3.6.4. Military IT-Networking 58
4. Defense Procurement Market Dynamics 59
4.1. Import Market Dynamics 61
4.1.1. Norwegian defense imports are expected to increase over the forecast period 61
4.1.2. The US and Italy are the largest arms suppliers to Norway 62
4.1.3. Aircraft accounted for the largest percentage share of overall defense imports 63
4.2. Export Market Dynamics 64
4.2.1. Norway was among the top 20 countries with the highest volume of defense exports 64
4.2.2. Exports to European countries are expected to increase over the forecast period 65
4.2.3. The air defense systems category accounted for the majority of Norways defense exports during 2012-2016 66
5. Industry Dynamics 67
5.1. Five Forces Analysis 67
5.1.1. Bargaining Power of Supplier: Low 68
5.1.2. Bargaining Power of Buyer: High 68
5.1.3. Barrier to Entry: Medium 68
5.1.4. Intensity of Rivalry: High 68
5.1.5. Threat of Substitution: High 68
6. Market Entry Strategy 69
6.1. Budgeting Process 69
6.2. Procurement Policy and Process 70
6.3. Market Regulation 71
6.3.1. The Norwegian defense industry is largely driven by government regulation and offset policy 71
6.3.2. The Norwegian government supports FDI 72
6.4. Market Entry Route 73
6.4.1. Entry through Joint Development Programs 73
6.4.2. Foreign Military Sales (FMS) to Norway 74
6.4.3. Collaborations provide market entry opportunities 75
6.5. Key Challenges 76
6.5.1. The Norwegian government prefers Scandinavian and European countries for defense trade 76
6.5.2. The Norwegian export policy poses a challenge for domestic defense companies 76
7. Competitive Landscape and Strategic Insights 77
7.1. Competitive Landscape Overview 77
7.2. Key Public Sector Companies 79
7.2.1. Kongsberg Defense Systems: Overview 79
7.2.2. Kongsberg Defense Systems: Product Focus 79
7.2.3. Kongsberg Defense Systems: Recent Announcements and Strategic Initiatives 81
7.2.4. Kongsberg Defense Systems: Alliances 83
7.2.5. Kongsberg Defense Systems: Recent Contract Wins 84
7.2.6. Forsvarets ForskningsInstitutt: Overview 87
7.2.7. Forsvarets ForskningsInstitutt: Product Focus 87
7.2.8. Forsvarets ForskningsInstitutt: Recent Announcements and Strategic Initiatives 87
7.2.9. Forsvarets ForskningsInstitutt: Alliances 88
7.2.10. Forsvarets ForskningsInstitutt: Recent Contract Wins 88
7.2.11. NAMMO AS: Overview 89
7.2.12. NAMMO AS: Product Focus 89
7.2.13. NAMMO AS: Recent Announcements and Strategic Initiatives 90
7.2.14. NAMMO AS: Alliances 92
7.2.15. NAMMO AS: Recent Contract Wins 93
7.2.16. Kitron: Overview 94
7.2.17. Kitron: Product Focus 94
7.2.18. Kitron: Recent Announcements and Strategic Initiatives 94
7.2.19. Kitron: Alliances 95
7.2.20. Kitron: Recent Contract Wins 95
7.2.21. Kitron: Financial Analysis 96
7.3. Key Private Sector Companies 98
7.3.1. Thales Norway AS: Overview 98
7.3.2. Thales Norway AS: Product Focus 98
7.3.3. Thales Norway AS: Recent Announcements and Strategic Initiatives 99
7.3.4. Thales Norway AS: Alliances 99
7.3.5. Thales Norway AS: Recent Contract Wins 100
7.3.6. Umoe Mandal: Overview 101
7.3.7. Umoe Mandal: Product and Services Focus 101
7.3.8. Umoe Mandal: Recent Announcements and Strategic Initiatives 101
7.3.9. Umoe Mandal: Alliances 102
7.3.10. Eidsvoll Electronics AS: Overview 103
7.3.11. Eidsvoll Electronics AS: Product Focus 103
7.3.12. Eidsvoll Electronics AS: Recent Announcements and Strategic Initiatives 103
7.3.13. Eidsvoll Electronics AS: Alliances 103
7.3.14. Eidsvoll Electronics AS: Recent Contract Wins 104
8. Business Environment and Country Risk 105
8.1. Economic Performance 105
8.1.1. GDP Per Capita at Constant Prices 105
8.1.2. GDP at Current Prices (US$) 106
8.1.3. Exports of Goods and Services (current LCU bn) 107
8.1.4. Imports of Goods and Services (current LCU bn) 108
8.1.5. Gross National Disposable Income (US$ billion) 109
8.1.6. LCU per US$ 110
8.1.7. Market Capitalization of Listed Companies (US$ bn) 111
8.1.8. Market Capitalization of Listed Companies (% of GDP) 112
8.1.9. Total Government Cash Surplus/Deficit (LCU billion) 113
8.1.10. Government Cash Surplus/Deficit as a Percentage of GDP (LCU) 114
8.1.11. Goods Exports as a Percentage of GDP 115
8.1.12. Goods Imports as a Percentage of GDP 116
8.1.13. Services Imports as a Percentage of GDP 117
8.1.14. Service Exports as a Percentage of GDP 118
8.1.15. Foreign Direct investment, Net (BoP, current US$ billions) 119
8.1.16. Net Foreign Direct Investment as a Percentage of GDP 120
8.1.17. Mining, Manufacturing, Utilities Output (US$ billion) 121
9. Appendix 122
9.1. About SDI 122
9.2. Disclaimer 122

List Of Tables

List of Tables
Table 1: Norwegian Army Strength 18
Table 2: Norwegian Navy Strength 18
Table 3: Norwegian Air Force Strength 19
Table 4: Norwegian Ongoing Procurement Programs 20
Table 5: Norwegian Future Procurement Programs 21
Table 6: Top Norwegian Defense Procurement Programs by Value (US$ Million) 2018-2023 22
Table 7: Norwegian Defense Expenditure (NOK billion & US$ billion), 2014-2023 25
Table 8: Norwegian GDP Growth vs. Defense Expenditure as a Percentage of GDP, 2014-2023 29
Table 9: Norwegian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 31
Table 10: Norwegian Defense Capital Expenditure (NOK Billion and US$ Billion), 2014-2023 34
Table 11: Norwegian Defense Expenditure Breakdown (%), 2014-2023 36
Table 12: Norwegian Defense Budget in NOK Billion - Breakdown by Services (Army, Navy, Air Force and Others) 2013-2022 38
Table 13: Norwegian Defense Budget in US$ Billion - Breakdown by Services (Army, Navy, Air Force and Others) 2014-2023 40
Table 14: Danish Per-Capita Defense Expenditure (US$), 2014-2023 42
Table 15: Norwegian Homeland Security Expenditure (NOK Billion & US$ Billion), 2014-2023 44
Table 16: Terrorism Index, 2018 48
Table 17: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 51
Table 18: Top 10 Norwegian Defense Market Sectors by Value (US$ Million) - 2018-2023 55
Table 19: Norwegian Budget Formation Timetable: 69
Table 20: Offset Multiplier Categories 71
Table 21: Market Entry Strategies by Key Foreign Companies 73
Table 22: FMS deals to Norway 74
Table 23: Competitive Landscape of the Danish Defense Industry 77
Table 24: Kongsberg Defense Systems - Product Focus 79
Table 25: Kongsberg Defense Systems - Alliances 83
Table 26: Kongsberg Defense Systems - Recent Contract Wins 84
Table 27: Forsvarets ForskningsInstitutt - Product Focus 87
Table 28: Forsvarets ForskningsInstitutt - Alliances 88
Table 29: Forsvarets ForskningsInstitutt - Recent Contract Wins 88
Table 30: NAMMO AS - Product Focus 89
Table 31: NAMMO AS - Alliances 92
Table 32: NAMMO AS - Recent Contract Wins 93
Table 33: Kitron - Product Focus 94
Table 34: Kitron - Alliances 95
Table 35: Kitron - Recent contract wins 95
Table 36: Thales Norway AS - Product Focus 98
Table 37: Thales Norway AS - Alliances 99
Table 38: Thales Norway AS - Recent Contract Wins 100
Table 39: Umoe Mandal - Product and Services Focus 101
Table 40: Umoe Mandal - Alliances 102
Table 41: Eidsvoll Electronics AS - Product Focus 103
Table 42: Eidsvoll Electronics - Alliances 103
Table 43: Eidsvoll - Recent Contract Wins 104

List Of Figures

List of Figures
Figure 1: Norwegian Defense Expenditure (NOK Billion), 2014-2023 26
Figure 2: Norwegian Defense Expenditure (US$ Billion), 2014-2023 26
Figure 3: Norwegian GDP Growth vs. Defense Expenditure as Percentage of GDP, 2014-2023 30
Figure 4: Norwegian Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 32
Figure 5: Norwegian Defense Capital Expenditure (NOK Billion), 2014-2023 34
Figure 6: Norwegian Defense Capital Expenditure (US$ Billion), 2014-2023 35
Figure 7: Norwegian Defense Expenditure Share - (%) Split by Services (Army, Navy, Air Force and Others), 2014-2023 37
Figure 8: Norwegian Defense Budget in NOK Billion - Breakdown by Services (Army, Navy, Air Force and Others) 2014-2023 39
Figure 9: Norwegian Defense Budget in US$ Billion - Breakdown by Services (Army, Navy, Air Force and Others) 2014-2023 41
Figure 10: Norwegian Per Capita Defense Expenditure (US$), 2014-2023 43
Figure 11: Norwegian Homeland Security Expenditure (NOK billion), 2014-2023 45
Figure 12: Norwegian Homeland Security Expenditure (US$ billion), 2014-2023 45
Figure 13: Terrorism Heat Map, 2018 47
Figure 14: Terrorism Index, 2018 50
Figure 15: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 52
Figure 16: Benchmarking with Worlds Largest Defense Spenders (US$ Billion), 2018 and 2023 53
Figure 17: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2018 54
Figure 18: Fighters and Multirole Aircraft (US$ Million), 2018-2023 56
Figure 19: Diesel Electric Submarine (US$ Million), 2018-2023 57
Figure 20: Military IT-Networking (US$ Million), 2018-2023 58
Figure 21: Norwegian Defense Procurements In Terms Of their Supplier Relationships 60
Figure 22: Norwegian Defense Import Trend, 2012-2016 (TIV values*) 61
Figure 23: Norwegian Defense Import by Country, 2012-2016 (TIV values) 62
Figure 24: Norwegian Defense Imports by Category (%),2012-2016 63
Figure 25: Norwegian Defense Exports Trend, 2012-2016 (TIV values*) 64
Figure 26: Norwegian Defense exports by Country (%), 2012-2016 65
Figure 27: Norwegian Defense Exports by Category (%), 2012-2016 66
Figure 28: Industry Dynamics - Porters Five Forces Analysis 67
Figure 29: Kitron - Revenue Trend Analysis (NOK Million), 2012-2016 96
Figure 30: Kitron - Operating Profit Trend Analysis (NOK Million), 2012-2016 97
Figure 31: Kitron - Net Profit Trend Analysis (NOK Million), 2012-2016 97
Figure 32: Norwegian GDP Per Capita at Constant Prices (US$), 2015-2025 105
Figure 33: Norway GDP at Current Prices (US$ Billion), 2015-2025 106
Figure 34: Norwegian Exports of Goods and Services (LCU Bn), 2005-2014 107
Figure 35: Norwegian Imports of Goods and Services (LCU Bn), 2005-2014 108
Figure 36: Norwegian Gross National Disposable Income (US$ billion), 2005-2013 109
Figure 37: Norway LCU per US$, 2015-2024 110
Figure 38: Norwegian Market Capitalization of Listed Companies (US$ billion), 2005-2012 111
Figure 39: Norwegian Market Capitalization of Listed Companies (% of GDP), 2005-2012 112
Figure 40: Norwegian Total Government Cash Surplus/Deficit (LCU billion), 2003-2012 113
Figure 41: Norwegian Government Cash Surplus/Deficit as a % of GDP (LCU), 2005-2012 114
Figure 42: Norway Goods Exports as a % of GDP (%), 2005-2013 115
Figure 43: Norway Goods Imports as a % of GDP (%), 2005-2013 116
Figure 44: Norwegian Services Imports as a % of GDP (%), 2005-2013 117
Figure 45: Norwegian Service Exports as a % of GDP (%), 2005-2013 118
Figure 46: Norway Foreign Direct Investment, net (BoP, current US$ billion), 2005-2013 119
Figure 47: Norwegian Net Foreign Direct Investment as a % of GDP, 2005-2014 120
Figure 48: Norwegian Mining, Manufacturing, Utilities Output (US$ billion), 2005-2014 121

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Reports Details

Published Date : Feb 2018
No. of Pages :122
Country :Norway
Category :Aerospace and Defense
Publisher :Strategic Defence Intelligence
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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