Future of the Swedish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

Future of the Swedish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

  • March 2019 •
  • 135 pages •
  • Report ID: 1658706 •
  • Format: PDF
Future of the Swedish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024

Summary
Sweden is expected to invest US$34.0 billion in its armed forces over the forecast period. The country’s efforts to replace its aging military equipment and modernize its defense forces with advanced technology are expected to drive defense expenditure over the forecast period. As a percentage of GDP, the country’s defense expenditure is expected to average 1.1% over 2020-2024. Swedish defense expenditure, which recorded a CAGR of 6.72% during the historic period, is anticipated to stabilize and grow at a CAGR of 4.21% over 2020-2024.

The Swedish government has decided to substantially increase its defense budget for the first time in two decades.Over the forecast period, the country’s defense industry is expected to witness cumulative spending of US$34 billion, with significant expenditure being directed towards the purchase of advanced defense systems, international peacekeeping missions, and research and development initiatives.

This can be attributed to the deteriorating security situation in Europe, particularly in the wake of Russian aggression against Ukraine, and Sweden’s efforts to increase the operational war fighting capability of its armed forces.

Owing to security threats from Russia and the deployment of troops in overseas peacekeeping missions, the Swedish government is expected to concentrate on procuring advanced land defense systems, communication systems, and sophisticated air defense equipment. Swedish homeland security expenditure stands at US$5.2 billion in 2020 and is expected to reach US$5.6 billion by 2024, registering a CAGR of 1.84% during 2020-2024.

There will be an increase in the country’s total defense budget, military expenditure as a percentage of GDP is predicted to increase marginally from 1.08% during 2015-2019 to 1.11% over 2020-2024. During the historic period, the average allocation for capital expenditure was 36.5% of the total defense budget, which is expected to increase to 36.6% over the forecast period. This is primarily due to the overhaul and modernization of fighter aircraft, and the procurement of helicopters, transport aircraft, frigates, nuclear submarines, C4ISR platforms, and missile defense systems. Additionally, the government is also expected to increase its focus on cyber security and the procurement of drones to enhance aerial surveillance.

The report "Future of the Swedish Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2024", 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.

Companies mentioned: SaaB, BAE Systems AB, Nammo Group, Dynasafe AB, Scanjack AB, Akers Krutbruk Protection AB, Logica, Niscayah

Scope
In particular, it provides an in-depth analysis of the following -
- The Sweden defense industry market size and drivers: detailed analysis of the Swedish defense industry during 2020-2024, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country’s 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 capital expenditure and revenue expenditure. It also details the key challenges faced by defense market participants within the country.
- Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years.
- Market opportunities: list of the top ten defense investment opportunities over the next 5 years.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the Swedish defense industry.

Reasons to buy
- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Swedish 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 Swedish defense industry covering sections including demand drivers, key trends and latest industry contracts.
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