Norwegian Defense Market Worth US$9.1 Billion by 2019 Says A New Research Report at RnRMarketResearch.com

RnRMarketResearch.com adds Latest Report on “Future of the Norwegian Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019” to its store.

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Norway Defense Industry to Grow at a CAGR of 5.50% to 2019

Dallas, TX (PRWEB) March 15, 2014

Synopsis
This report is the result of 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 2019offers the reader an insight into the market opportunities and entry strategies adopted by foreign original equipment manufacturers (OEMs) to gain market share in the Norwegian defense industry.

Order a copy of this report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=156471 .

What is the current market landscape and what is changing?
Norway’s total defense expenditure stands at US$7 billion in 2014 and is expected to grow at a CAGR of 5.50% over the forecast period, to reach US$9.1 billion in 2019; this increase in defense expenditure can be attributed to the modernization and training programs that are expected to be executed during the forecast period. Norwegian defense expenditure is further driven by participation in peacekeeping initiatives, the procurement of military aircraft such as the F-35 fighter aircraft, the Norwegian All Weather Search and Rescue Helicopter (NAWSARH) program, Advanced Medium Range Air-to-Air Missiles (AMRAAM), upgrade and support for C-130J aircraft the soldier modernization program, cyber security and the procurement of advanced technology equipment. The country’s defense budget stands at 1.33% of GDP in 2014 and is expected to increase marginally to 1.42% of GDP by 2019. During 2010-2014, the average capital expenditure allocation stood at 31.6% of the total defense budget, and this is expected to grow at the same average during the forecast period.

What are the key drivers behind recent market changes?
Modernization of the armed forces and international peacekeeping operations

What makes this report unique and essential to read?
The Future of the Norwegian Defense Industry – Market Attractiveness, Competitive Landscape, and Forecasts to 2019 provides detailed analysis of the current industry size and growth expectations from 2015 to 2019, 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.

Complete report is available @ http://www.rnrmarketresearch.com/future-of-the-norwegian-defense-industry-market-attractiveness-competitive-landscape-and-forecasts-to-2019-market-report.html .

Key Features and Benefits

  •     The report provides detailed analysis of the current industry size and growth expectations from 2015 to 2019, 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 it 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 NOK50 million, and investors are required to reinvest 100% of the value of the contract into the Norwegian economy. Moreover, if the investor is unable to meet the offset obligation, a penalty is issued of a minimum of 10% of the outstanding amount. Finally, the relatively high cost of labor in the country may be an additional deterrent for potential investors.

The Norwegian Government has 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, affecting the country’s budget deficit, and forbid Norwegian exports to nations engaged in warfare. In addition, new laws also ban export to countries that are not part of the NATO agreement.

Browse more reports on Defense Market @ http://www.rnrmarketresearch.com/reports/public-sector/defense .

Contact sales(at)rnrmarketresearch(dot)com for further information.

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