Denmark Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
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Denmark Defense Market Report Overview
As of 2023, the Denmark defense budget is worth $5.1 billion. The country’s defense budget is set to see high levels of growth, registering a CAGR of more than 4% between 2024 and 2028. The increase in Danish defense expenditure is primarily driven by the government’s response to the conflict in Ukraine. Factors expected to accelerate the Denmark’s defense market growth during the projected period are rise in the Danish defense sector spending to facilitate modernization of the Danish military’s equipment and the needed replacement of aging platforms across all military branches.
Denmark Defense Market Outlook, 2023-2028 ($ Billion)
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The Denmark defense market research report provides the market size forecast and the projected growth rate for the next five years. Furthermore, our analysts have carried out a comprehensive industry analysis to determine key market drivers, emerging technology trends, key sectors, and major challenges faced by market participants, in this report. The Denmark defense market study has also assessed key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
Market Size (2023) | $5.1 Billion |
CAGR (2024-2028) | >4% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Drivers | · Regional Priorities
· Force Restructuring · Security Threats |
Key Sectors | · Military Fixed-Wing
· Missile and Missile Defense Systems · Tactical Communications · Naval Vessels and Surface Combatants · Military Simulation & Training · Electronic Warfare Systems |
Leading Companies | · A.P. Mollder – Maersk AS
· GN Store Nord AS · Terma AS · Satair AS · Systematic AS |
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Denmark Defense Market Drivers
The key factors driving the Denmark defense market growth are regional priorities, force restructuring, and security threats.
Regional Priorities: The Danish government has been highlighting an increasingly aggressive Russia on NATO’s eastern flank as a major security concern. The invasion of Ukraine has further worsened the relationship between the economies. This has created a need for Denmark to bolster its military capabilities and demonstrate its commitment to collective defense to its NATO allies. As a result, Denmark is investing in the defense sector and participating in international security agreements. The country has stated its intention to spend 2% of its GDP on defense by 2030. Another factor driving expenditure in the Danish defense market is High North tension. The tension in the Arctic is attributed to the melting of polar ice caps, which is increasing maritime activity, economic exploitation, and territorial disputes over areas such as the Lomonosov Ridge.
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Denmark Military Doctrines and Defense Strategies
The armed service branches in Denmark are collectively titled Danish Defence. Denmark’s membership of NATO remains a cornerstone of the Danish defense doctrine. International cooperation and operations have long been a focus of the Danish military doctrine, as the Danish government views a security situation that promotes stability, strong international law, and multilateral cooperation as an important element of Danish defense policy. The concept of ‘Total Defence’, which implies to the use of all available resources in times of national emergency, also plays an important part in Denmark’s military doctrine, as it combines Danish Defence efforts with emergency management agencies and elements of the police.
The 2018 Danish Defence white paper laid out not just the perceived threats and risks for Danish defense and security, but also its intended responses. It covers a five-year-strategy from 2018 to 2023. Themes emerge in reorganization, modernization, and other initiatives that showcase how Denmark plans to meet these threats and enhance military capability. By 2024, the army plans to have a deployable brigade of approximately 4,000 troops to meet NATO’s force contribution goals for a medium-sized formation. The Royal Danish Air Force (RDAF) is also in the process of replacing its fast jet fleet. Also, the Royal Danish Navy (RDN) is acquiring more offensive capabilities that will meet NATO requirements in certain disciplines such as antisubmarine warfare (ASW). The Danish Home Guard will also have its equipment modernized and its ability to mobilize increased, allowing it to better support the regular armed forces and contribute to securing Danish infrastructure in times of emergency.
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Denmark Defense Market Segmentation by Sectors
The key sectors in the Denmark defense market are military fixed wing aircraft, missiles and missile defense systems, tactical communication systems, and naval vessels and surface combatants. Other key sectors are military simulation & training, electronic warfare systems, underwater warfare systems, artillery systems, among others. In 2023, the most attractive sector in Denmark’s defense market has been military fixed wing aircraft, followed by missiles and missile defense systems, and tactical communication systems.
The military fixed-wing aircraft segment is predicted to be the largest sector in Denmark’s defense market between 2023 and 2028. The only segment that primarily constitute this sector is the multirole aircraft. Within this segment, only the F-35A is currently being procured, and thus accounts for the entirety of the future spending on this sector over the coming years. The F-35A is being procured by the Royal Danish Air Force (RDAF), and four airframes have entered operational use in the country.
Denmark Defense Market Analysis by Sectors, 2023 (%)
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Denmark Defense Market - Competitive Landscape
The leading defense companies operating in Denmark are A.P. Mollder – Maersk AS, GN Store Nord AS, Terma AS, Satair AS, and Systematic AS among others.
Terma AS: The company develops, manufactures, and sells advanced structures for defense, and non-defense applications. The company’s offerings comprise advanced structures, mission-critical electronics, software, network and tactical systems, airborne and naval self-protection systems among others. Terma serves public authorities, defense groups, and commercial enterprises worldwide, and its solutions are applicable for defense aircraft, non-defense aircraft, helicopters, space applications, mission critical defense and security applications, and critical infrastructure. The company operates across Denmark, Germany, the Middle East, the Netherlands, India, Singapore, and the US. Terma is headquartered in Lystrup, Central Denmark Region, Denmark.
Denmark Defense Market Analysis by Companies
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Segments Covered in the Report
Denmark Defense Market Sectors Outlook (Value, $ Billion, 2019-2028)
- Military Fixed-Wing
- Missile and Missile Defense Systems
- Tactical Communications
- Naval Vessels and Surface Combatants
- Military Simulation & Training
- Electronic Warfare Systems
Scope
The report provides:
- Detailed analysis of the Denmark 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Explanation of the procurement policy and process. This is coupled with an analysis of Denmark’s military doctrine and strategy to provide a comprehensive overview of Denmark’s military regulation.
- Examination of political alliances and perceived security threats to Denmark and explains trends in spending and modernization.
- Analysis of prevalent trends in the country’s imports and exports over the last five years.
- Analysis of the competitive landscape of Denmark’s defense industry.
Key Highlights
Drivers of Defense expenditure include Modernization programs, NATO targets, and Internal operations
Major ongoing procurement program include procurement of F-35A, Patrol Vessels, and precise and universal launching systems
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the Denmark defense market over the next five years.
- Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the Danish market and identify the opportunities offered.
- Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others.
- Identify the major threats that are driving the Denmark defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion.
- Channel resources by focusing on the ongoing programs that are being undertaken by the Danish government.
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available.
Table of Contents
Table
Figures
Frequently asked questions
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What is the Denmark defense market size in 2023?
The defense market size in Denmark is $5.1 billion in 2023.
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What is the Denmark defense market growth rate?
The defense market in Denmark is expected to achieve a CAGR of more than 4% during 2024-2028.
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Which is the leading sector in the Denmark defense market in 2023?
Military fixed-wing aircraft is the leading sector in the Denmark defense market in 2023.
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Who are the key companies operating in the Denmark defense market?
A few of the leading defense companies operating in Denmark are A.P. Mollder – Maersk AS, GN Store Nord AS, Terma AS, Satair AS, and Systematic AS among others.
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