Norway Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028

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Norway Defense Market Report Overview

The Norway defense budget is worth $7.6 billion in 2023. The country’s defense budget is anticipated to rise in steady and gradual annual increments growing at a CAGR of more than 4% during 2024-2028 as Norway adopts new platforms, modernizes its Home Guard force, and invests more in the overall readiness and availability rates of its armed forces. Norway is also committed to new programs for defense modernization.

Norway Defense Market Outlook, 2023-2028 ($ Billion)

Norway Defense Market Outlook, 2023-2028 ($ Billion)

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The Norway defense market research report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, key sectors, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Market Size (2023) $7.6 Billion
CAGR (2024-2028) >4%
Forecast Period 2024-2028
Historical Period 2019-2023
Key Sectors ·        Submarines

·        Naval Vessels and Surface Combatants

·        Military Land Vehicles

·        Missiles and Missile Defense Systems

·        Tactical Communications Systems

·        Military Fixed Wing

·        Military Simulation and Training

Leading Companies ·        ThyssenKrupp Marine Systems

·        Lockheed Martin

·        Krauss-Maffei Wegmann GmbH & Co KG

·        Leonardo SpA

·        Navantia and Naviris

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Norway Defense Market Drivers

  • Alliances and partnerships: Norway is an active participant in the NATO alliance, and Norway’s commitment to meeting NATO’s 2% GDP spending goal is the driving force of defense budget growth.
  • European tensions: The Russian invasion of Ukraine has brought into focus an urgency to bolster military strength in the face of great power competition.

Norway Military Doctrines and Defense Strategies

High North Operations and Russian Aggression Define Norway’s Security Environment

Norway’s military consists of five branches: the army, air force, navy (and Coast Guard), Home Guard, and Cyber Defence Force. The military’s commander-in-chief is King Harald V, but de facto decision-making power rests entirely with the prime minister and their cabinet. Norway’s 2020 long-term defense plan identifies three main lines of effort: preparedness for national defense, collective activity through the NATO framework, and bilateral support and engagement with close allies and regional partners. The core tasks of the Norwegian military are identified as ensuring credible deterrence and collective defense through NATO and defending Norway and its allies from aggression and threats among others.

‘Total Defence’ and the Home Guard is Norway’s strategy to mobilize all of society in the event of national emergencies. It supports the three lines of effort outlined above and focuses on building a nexus between the civil and military spheres of Norwegian life to present a united front against a whole spectrum of threats, from natural disasters and terrorism to conventional military aggression or ‘grey zone’ hybrid threats.

Norway Defense Market Segmentation by Sectors

In 2023, the top sector in the Norway defense market is submarine.

The key sectors in the Norway defense market are submarines, naval vessels and surface combatants, military land vehicles, missiles and missile defense systems, tactical communications systems, military fixed wing, and military simulation and training, among others. Military fixed wing is forecast to be the largest sector in Norway’s defense market over the forecast period. The ongoing acquisition of a fleet of 52 F-35 fighter aircraft is the driving force making military fixed-wing the largest single sector.

Norway Defense Market Analysis by Sectors, 2023 (%)

Norway Defense Market Analysis by Sectors, 2023 (%)

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Norway Defense Market - Competitive Landscape

Some of the leading defense companies operating in Norway are:

  • ThyssenKrupp Marine Systems
  • Lockheed Martin
  • Krauss-Maffei Wegmann GmbH & Co KG
  • Leonardo SpA
  • Navantia and Naviris

F-35A is a combat aircraft by Lockheed Martin. The decision to procure Lockheed Martin’s multirole stealth fighter as a replacement for the F-16 fleet was made in 2008 and the first delivery of a planned 52 occurred in 2015. The F-35A is a fifth-generation jet aircraft, and the ‘A’ variant is configured for conventional take-off and landing, as per the Norwegian Air Force’s requirements. Norway was one of the first signatories to the Joint Strike Fighter (JSF) program that produced the F-35.

Norway Defense Market Analysis by Companies

Norway Defense Market Analysis by Companies

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Segments Covered in the Report

Norway Defense Market Sectors Outlook (Value, $ Billion, 2019-2028)

  • Submarines
  • Naval Vessels and Surface Combatants
  • Military Land Vehicles
  • Missiles and Missile Defense Systems
  • Tactical Communications Systems
  • Military Fixed Wing
  • Military Simulation and Training

Scope

The report provides:

  • Detailed analysis of the Norway 2022 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 Norway’s military doctrine and strategy to provide a comprehensive overview of Norway’s military regulation.
  • Examination of political alliances and perceived security threats to Norway 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 Norway’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, Type 212 submarines, Leopard-27A Main Battle tanks

Reasons to Buy

  • Determine prospective investment areas based on a detailed trend analysis of the Norway defense market over the next five years.
  • Gain an in-depth understanding of the underlying factors driving demand for different defense and internal security segments in the Norway 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 Norway defense market providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channel resources by focusing on the ongoing programs that are being undertaken by the Norway government.
  • Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.

Lockheed Martin Corp
Kongsberg AS
Nammo AS
Krauss-Maffei Wegmann

Table of Contents

  • 1. Executive Summary
  • 2. Defense Budget Assessment

    • 2.1. Budgeting Process
    • 2.2. Defense Market Size Historic And Forecast
    • 2.3. Drivers Of Defense Expenditure
    • 2.4. Analysis of Defense Expenditure Allocation
    • 2.5. Analysis Of Defense Budget Allocation
    • 2.6. Key Market Trends and Insights

  • 3. Military Doctrine and Security Environment

    • 3.1. Military Doctrine And Strategy
    • 3.2. Strategic Alliances and Geopolitics
    • 3.3. Political, Social and Economic Scenario

  • 4. Market Entry Strategy and Regulations

    • 4.1. Defense Procurement Bodies
    • 4.2. Funding Opportunities
    • 4.3. Trade Associations and Defense Clusters
    • 4.4. Types of Contracts and Opportunities
    • 4.5. Types of European Procurement Procedure
    • 4.6. Procurement Policy and Market Regulations
    • 4.7. Market Entry Routes
    • 4.8. Key Challenges
    • 4.9. Major Deals and M&A

  • 5. Market Attractiveness and Emerging Opportunities

    • 5.1. Market Attractiveness By Defense Sector
    • 5.2. Top Sectors in the Italian Defense Market
    • 5.3. Top Defense Segments By Value

  • 6. Defense Platform Acquisitions

    • 6.1. Defense Platform Acquisitions By Value
    • 6.2. Type 212 CD
    • 6.3. F-35A
    • 6.4. Modular Multirole Patrol Corvette (MMPC)
    • 6.5. Leopard 2-A7
    • 6.6. New Surface Vessels (Frigate)

  • 7. Fleet Size

    • 7.1. Army
    • 7.2. Air Force
    • 7.3. Navy

  • 8. Competitive Landscape

    • 8.1. Defense Companies
    • 8.2. Main Defense Companies

  • 9. Appendix

    • 9.1. About This Report
    • 9.2. About Us
    • 9.3. Contact Us

Frequently asked questions

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