2013-09-06 13:47:18 - Recently published research from Strategic Defence Intelligence, "Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018", is now available at Fast Market Research
This report is the result of SDI's extensive market and company research covering the Norwegian defense industry, and provides detailed analysis of both historic and forecast defense industry values including key growth stimulators, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain a market share in the Norwegian defense industry.
What is the current market landscape and what is changing?
Norwegian defense expenditure increased at a CAGR of 8.93% during the review period and valued US$7.53 billion in
2013. The focus of the Norwegian government will be on the modernization of its armed forces and participation in peacekeeping operations.
Full Report Details at
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What are the key drivers behind recent market changes?
Norwegian defense expenditure is mainly driven by the participation of the Norwegian Forces in international peacekeeping operations and the modernization of the armed forces.
What makes this report unique and essential to read?
The Future of the Norwegian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018 provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the current industry size and growth expectations from 2014 to 2018, including highlights of key growth stimulators, and also benchmarks the industry against key global markets and provides a detailed understanding of emerging opportunities in specific areas.
The report includes trend analysis of imports and exports, together with their implications and impact on the Norwegian defense industry.
The report covers five forces analysis to identify various power centers in the industry and how these are expected to develop in the future.
The report allows readers to identify possible ways to enter the market, together with detailed descriptions of how existing companies have entered the market, including key contracts, alliances, and strategic initiatives.
The report helps the reader to understand the competitive landscape of the defense industry in Norway. It provides an overview of key defense companies, both domestic and foreign, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Key Market Issues
The Norwegian defense industry favors Scandinavian and European countries for defense trade, as Norway is a member of the European Defense Agency, which limits the scope for foreign companies to enter the Norwegian defense industry. Furthermore, the country follows a strict offset policy, according to which, offsets are mandatory for all transactions exceeding US$82.2 million, and investors are required to reinvest 100% of the value of the contract into the Norwegian economy.
The Norwegian Government adopted a new set of rules for defense exports after the Iraq war massacre in 2012; these rules further tighten the export policy of Norway, thereby affecting country's budget deficit. These new laws have forbidden Norwegian exports to nations engaged in warfare and also ban export to countries that are not part of the NATO agreement.
Norway supports FDI and encourages companies to invest in the country in order to balance the budget deficit. Owing to government's FDI policy, many foreign defense firms, such as Thales and SAAB, have established wholly-owned subsidiaries in Norway; however, despite treating foreign and domestic investments equally under the law, regulations, standards, and practices within the industry often favor Norwegian, Scandinavian, and EEA investors, and the government frequently screens investments in order to ensure that they are in the public interest. Regulations and bureaucracy in Norway are generally transparent and efficient. Furthermore, as oil and gas trading is country's key investment area, most of the FDI in the country is directed towards ancillary services such as oil and gas insurance, the hydrocarbons sector, and onshore infrastructure.
During 2008-2010, Spain emerged as the predominant arms supplier to Norway, with a share of 60%, followed by the US, with a 20% share, and France, with 10% share. Over the forecast period, defense imports from the US are expected to increase as a result of significant volumes of procurement of F-35 fighter aircraft.
As Norway depends on foreign arms manufacturers for its naval defense systems, ships accounted for 60% of the country's defense imports during 2008-2012. Major procurements in the ships category include the purchase of the final Fridtjof Nansen-class frigate fleet and Skjold-class coastal corvettes. During the forecast period, the percentage share of aircraft is expected to grow due to the planned procurement of F-35 fighter planes.
Companies Mentioned in this Report: Kongsberg, Forsvarets Forsknings Institutt (FFI), Nammo AS, Kitron, Natech NSV AS, Jotne, Tinex, Thales, Sea-Hawk Navigation AS
About Strategic Defence Intelligence
Strategic Defence Intelligence provides a stream of continuously updated customer and competitor intelligence, as well as detailed research reports providing an unrivalled source of global information on the latest developments in the defence industry. View more research from Strategic Defence Intelligence at www.fastmr.com/catalog/publishers.aspx?pubid=1040
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