DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Future of the Finland Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2022" report to their offering.
The Finnish annual defense budget stands at US$3 Billion in 2017, and is expected to grow at a CAGR of 1.96% over the forecast period, to reach US$3.3 Billion in 2022.
Finland is a geo-strategically vital base due to its vicinity to Russia. The political and military development in Russia significantly influences the country's security. The Baltic Sea is a predominant logistic transport corridor for Finland, and Russia's rising interests in this area is likely to impact the security of the country.
The country's capital expenditure is expected to marginally increase from US$0.8 Billion in 2017 to US$0.9 Billion in 2022, registering a CAGR of 2.19% during the forecast period. The Finnish Defence Ministry is expected to procure fighters and multi-role aircraft, Maintenance, Repair and Operations (MRO) for multi-role aircraft, naval vessels MRO, and aircraft simulators. Furthermore, during the forecast period, Finland is expected to allocate as much as 73.4% of its defense budget towards revenue expenditure, which will be used to pay pension allowances to retired military personnel, salaries, training and other administrative activities.
During 2013-2017, Finland's Homeland Security (HLS) expenditure was driven by the continuing problems of illicit drug trading and human trafficking across its eastern border with Russia, along with cyber-crimes. However, with much of the illegal migration from the Middle Eastern countries now subsiding, the country's homeland security expenditure is anticipated to marginally decline over the forecast period. The expenditure is anticipated to increase at a CAGR of 11.27% during the forecast period, from US$1.6 Billion in 2017, to an estimated US$2.8 Billion in 2022.
Key Topics Covered:
2 Executive Summary
3 Market Attractiveness and Emerging Opportunities
4 Defense Procurement Market Dynamics
5 Industry Dynamics
6 Market Entry Strategy
7 Competitive Landscape and Strategic Insights
8 Business Environment and Country Risk
- Elektrobit Corporation (EB Corp.)
- Kiitokori Oy
- Millog Oy (Millog)
- Nammo Lapua Oy
Patricomp Oy and Temet Oy
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