GlobalData’s ‘Norway Defense Market 2023-2028′ report forecasts a boost to Norway’s defence capabilities, emphasising increased budgets and procurement strategies across the Army, Naval, and Air Force.
GlobalData’s latest report on Norway’s defence outlook reveals an uptick in its commitment to fortifying its military strength. Due to evolving global security dynamics, Norway is set to witness its defence budget rise from $7.6bn in 2023 to an imposing $9.2bn by 2028.
A strategic shift amid geopolitical challenges propels spending
The report pinpoints a strategic reevaluation prompted by heightened geopolitical tensions, notably Russia’s increased aggression. Unlike the declining trend observed in the past, Norway’s defence budget surge is marked by a decisive move to address emerging threats, positioning the nation as a force in the face of security challenges.
As a member of the Arctic Council, Norway strategically channels investments towards safeguarding the High North. With escalating great power competition and Russia’s military activities in the Arctic, the nation is fortifying its capabilities to address potential challenges in this strategically vital region.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAdditionally, Norway’s response to European security threats, particularly during Russia’s actions in Crimea and Ukraine, reflects its commitment to NATO’s collective defence principles.
See Also:
Modernisation across the board
The report outlines Norway’s plans for defence modernisation, spanning the Army, Navy, and Air Force. From rearming the ‘Brigade Nord’ to acquiring F-35 fighters and replacing ageing naval assets, tanks, and helicopters, Norway is investing in technological advancements and cybersecurity.
This approach aligns with the nation’s goal of maintaining combat readiness in the face of evolving security challenges.
Article 2 delves into Norway’s unique defence procurement strategies, emphasising the role of the Norwegian Defence Materiel Agency. Norway’s reliance on government-to-government sales is noteworthy, with the US leading as the primary defence importer.
F-35s, submarines, and missile defence systems lead transformation
The report highlights the impact of Norway’s defence acquisitions across its Army, Navy, and Air Force. From the dominance of the F-35 programme, the strategic deep dive into advanced submarines, and the growth in missile defence systems, Norway positions itself for enhanced defence capabilities. General Eirik Kristoffersen’s call for an expanded submarine order aligns with the nation’s reassessment of maritime security.
The Royal Norwegian Navy’s tender for four new frigate hulls emerges as a crucial decision point. The report emphasises the challenges faced by the navy and underlines the compatibility of new frigates with Kongsberg missile platforms. With VARD and Ulstein Verft collaborating for a favourable contract bid, this decision shapes Norway’s naval capabilities.
As Norway navigates these dynamic changes and makes strategic defence procurements, the collective impact of increased budgets, procurement strategies, and acquisitions propels Norway into a resilient position on the global security stage.
