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

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

Summary

The Future of the Danish 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 Danish 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 Danish defense industry market size and drivers: detailed analysis of the Danish 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 with respect to the army, navy, and air force. It also details the key challenges faced by defense market participants within the country
- Porters Five Force analysis of the Danish 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 Danish defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Scope

- Denmarks military expenditure, valued at US$3.56 billion in 2018, registered a declining growth rate of -0.93% during 2014-2018. Following the fall of the Berlin wall, the assertive behavior of Russia and the growing instability in North Africa and Middle East has driven the country to focus on modernizing the military with advanced equipment, alongside its NATO allies. In mid-October 2017, the Danish government released its next six year defense spending guidelines outlining an increase in the defense budget by 20% over the next six years. Over the forecast period, the countrys defense budget is expected to increase from US$3.7 billion in 2019 to US$5.5 billion in 2023, reflecting a CAGR of 10.51%.
- On a cumulative basis, during 2019-2023, the country is expected to invest US$22.2 billion for defense purposes, of which US$2.7 billion is earmarked for capital expenditure to fund defense procurements. The governments well-defined military modernization plans to counter influence of Russia and its duties with respect to NATO are expected to corner significant part of investmment.
- The MoD is expected to invest in fighters & multi-role Aircraft, Armored Personnel Carrier (APC), and Land-based C4ISR over the coming years.

Reasons to buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Danish 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 Danish 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 & Strategy 17
3.1.3. Military Fleet Size 18
3.1.4. Procurement Programs 21
3.1.5. Ongoing procurement programs 21
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 & Support for Defense Projects 23
3.1.9. Political & Strategic Alliances 24
3.2. Defense Market Size Historical and Forecast 25
3.2.1. Danish defense expenditure expected to register a CAGR of 10.51% over the forecast period 25
3.2.2. Growing Russian assertiveness and participation in NATO peacekeeping operations are expected to drive defense expenditure over the forecast period 27
3.2.3. Denmarks defense expenditure as a percentage of GDP expected to decrease 28
3.3. Analysis of Defense Budget Allocation 30
3.3.1. Capital expenditure is expected to account for 12.3% of the defense budget over 2019-2023 30
3.3.2. Capital expenditure is expected to record a CAGR of 10.91% during the forecast period, 2019-2023 32
3.3.3. Per capita defense expenditure set to increase over the forecast period 35
3.4. Homeland Security Market Size and Forecast 37
3.4.1. Danish homeland security expenditure expected to increase at a CAGR of 1.30% during 2019-2023 37
3.4.2. Cyber security and counter terrorism are main homeland security concerns 39
3.4.3. Denmark falls under some risk by terrorism category 41
3.4.4. Denmark faces moderate level of threat from foreign terrorist organizations 42
3.4.5. Denmark has a terrorism index score of 1.5 44
3.5. Benchmarking with Key Global Markets 45
3.5.1. Denmark defense budget expected to decline over the forecast period 45
3.5.2. Danish defense budget expected to remain low compared to other European countries 47
3.5.3. Denmark allocates a low share of GDP for defense compared to most European countries 48
3.6. Market Opportunities: Key Trends and Growth Stimulators 49
3.6.1. Top 10 Defense market sectors by value (US$ Million) - Projections over period 2018-2023 49
3.6.2. Multi-role Aircraft 50
3.6.3. Land Based C4ISR 51
3.6.4. Armored Personnel Carrier (APC) 52
4. Defense Procurement Market Dynamics 53
4.1. Import Market Dynamics 54
4.1.1. Defense imports are expected to increase over the forecast period 54
4.1.2. Denmark sourced most of its arms imports from the US 55
4.1.3. Sensors and naval weapons dominate military hardware imports 56
4.2. Export Market Dynamics 57
4.2.1. Arms exports to recover during the forecast period 57
4.2.2. Brazil, Algeria. Finland, and Oman are the main purchasers of Danish arms 58
4.2.3. Sensors and ships are the main exported defense products 59
5. Industry Dynamics 60
5.1. Five Forces Analysis 60
5.1.1. Bargaining power of supplier: low to medium 61
5.1.2. Bargaining power of buyer: high 61
5.1.3. Barrier to entry: low 61
5.1.4. Intensity of rivalry: medium to high 61
5.1.5. Threat of substitution: high 61
6. Market Entry Strategy 62
6.1. Budgeting Process 62
6.2. Procurement Policy & Process 64
6.3. Market Regulation 65
6.3.1. Offset policy aids development of domestic defense industry 65
6.3.2. Denmark permits 100% foreign direct investment in the defense sector 66
6.4. Market Entry Route 67
6.4.1. Forming subsidiaries or acquiring Danish companies are good market entry opportunities 67
6.4.2. Forming consortiums and product development agreements open new market entry strategy choices 67
6.4.3. Joint weapon development programs are a viable market entry opportunity 67
6.5. Key Challenges 68
6.5.1. Low defense budget and limited technological capability hinder market entry by foreign companies 68
6.5.2. Preference given to procurements from US and Nordic countries 68
7. Competitive Landscape and Strategic Insights 69
7.1. Competitive Landscape Overview 69
7.2. Key Domestic Companies 72
7.2.1. Systematic A/S: overview 72
7.2.2. Systematic A/S: products and services 72
7.2.3. Systematic A/S: recent announcements and strategic initiatives 73
7.2.4. Systematic A/S: alliances 75
7.2.5. Systematic A/S: recent contract wins 76
7.2.6. Terma A/S: overview 77
7.2.7. Terma A/S: products 77
7.2.8. Terma A/S: recent announcements and strategic initiatives 78
7.2.9. Terma A/S: alliances 79
7.2.10. Terma A/S: recent contract wins 81
7.2.11. Copenhagen Sensor Technology ApS: overview 83
7.2.12. Copenhagen Sensor Technology ApS: products 83
7.2.13. Copenhagen Sensor Technology ApS: recent announcements and strategic initiatives 83
7.2.14. Copenhagen Sensor Technology ApS: alliances 85
7.2.15. Copenhagen Sensor Technology ApS: recent contract wins 85
7.2.16. Danish Aerotech A/S: overview 86
7.2.17. Danish Aerotech A/S: products 86
7.2.18. Danish Aerotech A/S: recent announcements and strategic initiatives 87
7.2.19. Danish Aerotech A/S: alliances 88
7.2.20. Danish Aerotech A/S: recent contract wins 89
7.2.21. Falck Schmidt Defense Systems A/S: overview 90
7.2.22. Falck Schmidt Defense Systems A/S: products 90
7.2.23. Falck Schmidt Defense Systems A/S: recent announcements and strategic initiatives 90
7.2.24. Falck Schmidt Defense Systems A/S: alliances 91
7.2.25. Falck Schmidt Defense Systems A/S: recent contract wins 91
7.2.26. IFAD TS A/S: overview 92
7.2.27. IFAD TS A/S: products 92
7.2.28. IFAD TS A/S: recent announcements and strategic initiatives 92
7.2.29. IFAD TS A/S: alliances 93
7.2.30. IFAD TS A/S: recent contract wins 94
7.3. Key Foreign Companies 95
7.3.1. Lockheed Martin: overview 95
7.3.2. Lockheed Martin: products and services 95
7.3.3. Lockheed Martin: recent announcements and strategic initiatives 95
7.3.4. Lockheed Martin: alliances 96
7.3.5. Lockheed Martin: recent contract wins 96
7.3.6. Lockheed Martin Corp.: financial analysis 97
7.3.7. TenCate Advanced Armour Denmark A/S: overview 99
7.3.8. TenCate Advanced Armour Denmark A/S: defense products 99
7.3.9. TenCate Advanced Armour Denmark A/S: recent announcements and strategic initiatives 100
7.3.10. TenCate Advanced Armour Denmark A/S: alliances 101
7.3.11. TenCate Advanced Armour Denmark A/S: recent contract wins 101
8. Business Environment and Country Risk 102
8.1. Economic Performance 102
8.1.1. Gross Domestic per Capita 102
8.1.2. Gross Domestic Product, current US$Billion 103
8.1.3. Exports of Goods and Services 104
8.1.4. Imports of Goods and Services 105
8.1.5. Gross National Disposable Income 106
8.1.6. Local Currency Unit per US$, Period Average 107
8.1.7. Market Capitalization of Listed Companies 108
8.1.8. Market Capitalization of Listed Companies as a % of GDP 109
8.1.9. Government Cash Surplus/Deficit, as a percentage of DKK (LCU) 110
8.1.10. Goods Exports as a % of GDP 111
8.1.11. Goods Imports as a % of GDP 112
8.1.12. Services Imports as a % of GDP 113
8.1.13. Services Exports as a % of GDP 114
8.1.14. Foreign Direct Investment, BoP, Current Values in US$ Billions 115
8.1.15. Net FDI as a percentage of GDP 116
8.1.16. Mining, Manufacturing, Utilities Output 117
9. Appendix 118
9.1. About SDI 118
9.2. Disclaimer 118

List Of Tables


Table 1: Danish Army Organization 18
Table 2: Danish Army Strength 18
Table 3: Danish Navy Strength 19
Table 4: Danish Air Force Strength 20
Table 5: Danish Ongoing Procurement Programs 21
Table 6: Danish Future Procurement Programs 21
Table 7: Top Danish Defense Programs by Value (US$ Million) 2018-2023 22
Table 8: Danish Defense Expenditure (DKK billion & US$ billion), 2014-2023 25
Table 9: Danish GDP Growth vs. Defense Expenditure as a Percentage of GDP, 2014-2023 28
Table 10: Danish Defense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 30
Table 11: Danish Defense Capital Expenditure (DKK Billion & US$ Million), 2014-2023 33
Table 12: Danish Per-Capita Defense Expenditure (US$), 2014-2023 35
Table 13: Danish Homeland Security Expenditure (DKK Billion & US$ Billion), 2014-2023 37
Table 14: Terrorism Index, 2018 42
Table 15: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 45
Table 16: Top 10 Danish Defense Market Sectors by Value (US$ Million) - 2018-2023 49
Table 17: Danish Budget Formation Timetable: 62
Table 18: Offset Regulations in Denmark 65
Table 19: Top 10 Defense Suppliers in Danish Defense Industry - By Value (US$ Million) 2018-2023 69
Table 20: Competitive Landscape of the Danish Defense Industry 70
Table 21: Systematic A/S - Product Focus 72
Table 22: Systematic A/S: Alliances 75
Table 23: Systematic A/S: Recent Contract Wins 76
Table 24: Terma A/S - Product Focus 77
Table 25: Terma A/S: Alliances 79
Table 26: Terma A/S: Recent Contract Wins 81
Table 27: Copenhagen Sensor Technology ApS - Product Focus 83
Table 28: Copenhagen Sensor Technology ApS: Alliances 85
Table 29: Copenhagen Sensor Technology ApS: Recent Contract Wins 85
Table 30: Danish Aerotech A/S - Product Focus 86
Table 31: Danish Aerotech A/S: Alliances 88
Table 32: Danish Aerotech A/S: Recent Contract Wins 89
Table 33: Falck Schmidt Defense Systems A/S - Product Focus 90
Table 34: Falck Schmidt Defense Systems: Alliances 91
Table 35: Falck Schmidt Defense Systems: Recent contract wins 91
Table 36: IFAD TS A/S - Product Focus 92
Table 37: IFAD TS A/S: Alliances 93
Table 38: IFAD TS A/S: Recent Contract Wins 94
Table 39: Lockheed Martin - Product Focus 95
Table 40: Lockheed Martin Denmark: Alliances 96
Table 41: Lockheed Martin Denmark: Recent Contract Wins 96
Table 42: TenCate Advanced Armour Denmark A/S - Product Focus 99
Table 43: TenCate Advanced Armour Denmark A/S: Alliances 101
Table 44: TenCate Advanced Armour Denmark A/S: Recent Contract Wins 101

List Of Figures


Figure 1: Danish Defense Expenditure (DKK Billion), 2014-2023 26
Figure 2: Danish Defense Expenditure (US$ Billion), 2014-2023 26
Figure 3: Danish GDP Growth vs. Defense Expenditures Percentage of GDP Growth, 2014-2023 29
Figure 4:DanishDefense Budget Split Between Capital and Revenue Expenditure (%), 2014-2023 31
Figure 5: Danish Defense Capital Expenditure (DKK Billion), 2014-2023 33
Figure 6: Danish Defense Capital Expenditure (US$ billion), 2014-2023 34
Figure 7: Danish Per Capita Defense Expenditure (US$), 2014-2023 36
Figure 8: Danish Homeland Security Budget (DKK Billion), 2014-2023 38
Figure 9: Danish Homeland Security Budget (US$ Billion), 2014-2023 38
Figure 10: Terrorism Heat Map, 2018 41
Figure 11: Terrorism Index, 2018 44
Figure 12: Benchmarking with Key Markets - 2014-2018 vs. 2019-2023 46
Figure 13: Benchmarking with Worlds Largest and Top Regional Defense Spenders (US$ Billion), 2018 and 2023 47
Figure 14: Benchmarking with Large Defense Spenders as % of GDP - 2018 48
Figure 15: Danish Fighters Aircraft Market Size (US$ Million), 2018-2023 50
Figure 16: Danish Land Based C4ISR Market Size (US$ Million), 2018-2023 51
Figure 17: Danish Armored Personnel Vehicles Market Size (US$ Million), 2018-2023 52
Figure 18: Danish Defense Procurements In Terms Of Their Supplier Relationships 53
Figure 19: Denmark Defense Import Trend, 2012-2016 (TIV values) 54
Figure 20: Denmark Defense Imports by Country (%), 2012-2016 55
Figure 21: Denmark Defense Imports by Category (%), 2012-2016 56
Figure 22: Denmark Defense exports by Value, 2012-2016 (TIV values) 57
Figure 23: Denmark Defense exports by Country (%), 2012-2016 58
Figure 24: Denmark Defense exports by Category (%), 2012-2016 59
Figure 25: Industry Dynamics - Porters Five Forces Analysis 60
Figure 26: Lockheed Martin Corp. - Revenue Trend Analysis (US$ Billion), 2012-2016 97
Figure 27: Lockheed Martin Corp. - Operating Profit Trend Analysis (US$ Billion), 2012-2016 98
Figure 28: Lockheed Martin Corp. - Net Profit Trend Analysis (US$ Billion), 2012-2016 98
Figure 29: Denmarks GDP per capita (US$), 2015-2025 102
Figure 30: Denmarks Gross Domestic Product (current US$ Billion),2015-2025 103
Figure 31: Denmarks Exports of goods and services (current LCU Billion), 2005-2014 104
Figure 32: Denmarks Imports of goods and services (current LCU Billion), 2005-2014 105
Figure 33: Denmarks gross national disposable income (US$ Billion), 2005-2014 106
Figure 34: Denmarks DKK per US$, 2015-2024 107
Figure 35: Denmarks Market Capitalization of listed Companies (US$ Bilion), 2005-2012 108
Figure 36: Denmarks Market Capitalization of listed companies as a % of GDP, 2005-2012 109
Figure 37: Denmarks Government Cash Surplus/deficit as a % of GDP,2005-2012 110
Figure 38: Denmarks Goods Exports as a % of GDP, 2005-2014 111
Figure 39: Denmarks Goods Imports as a % of GDP,2005-2014 112
Figure 40: Denmarks Services Imports as a % of GDP, 2005-2014 113
Figure 41: Denmarks Services Exports as a % of GDP, 2005-2014 114
Figure 42: Denmarks FDI, net (BoP, Current US$ Billion), 2005-2014 115
Figure 43: Denmarks Net FDI as a percentage of GDP, 2005-2014 116
Figure 44: Denmarks Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014 117

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