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Denmark Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2022-2026

The Denmark defense budget stands at $4.3 billion in 2021. The market is expected to grow at a CAGR of more than 4% during the forecast period. The increase in Danish defense expenditure is primarily driven by a response to an evolving security environment and a focus on strengthening Denmark’s ability to participate in NATO’s cooperative defense and deterrence operations. The modernization of the Danish military’s equipment and the replacement of aging platforms across all branches of the military is a key factor in rising spending.

The Denmark defense market report provides an overview of the Danish defense market, outlining future programs and predicted expenditures. This report predicts future Danish defense expenditures and includes the likely effect on the market.

Denmark Defense Market Overview

Denmark Defense Market Overview

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What are the market drivers in the Denmark defense industry?

The need to create a military that can rapidly respond to a wide spectrum of scenarios and threats is a significant driver of defense expenditure. Denmark is one of the world’s most digitized societies and is acutely vulnerable to cyber-attacks that can be initiated remotely across borders. Denmark also voices continued concern with political instability in the Middle East and North Africa acting as a breeding ground for militant Islamist groups and the subsequent effects of terrorism and large, irregular migration flows. The confrontation between NATO and Russia over issues such as Ukraine and NATO’s enlargement to Russian borders will influence Danish decisions on defense spending.

What are the military doctrines and defense strategies in Denmark?

Denmark’s membership and contribution to 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 Defense’ – the use of all available resources in times of crisis and national emergency – also plays an important part in Denmark’s military doctrine. By 2024, the Army plans to have a deployable brigade to meet NATO’s force contribution goals for a medium-sized formation. Intended to be easily incorporated into wider deployments with allies and be a credible force in a peer-to-peer scenario, it shall receive an increased number of main battle tanks and a wide spectrum of capabilities including ground-based air defense, new sensor and electronic warfare equipment, and a drone capacity. Additionally, Denmark plans for a new light infantry battalion to participate in collective defense, international operations, or in national security deployments in concert with police forces.

What are the key sectors in the Denmark defense market?

The key sectors in the Denmark defense market are military fixed-wing, naval vessels and surface combatants, tactical communications, military infrastructure and logistics, military land vehicles, missiles and missile defense systems, and electronic warfare.

Military Fixed-Wing

Military fixed-wing is forecasted to be the largest sector in Denmark’s defense market. This sector is made up of multi-role aircraft segment. Within this segment, only the F-35A is currently being procured and thus accounts for the entirety of the forecasted spend on this sector over the coming years.

Military Infrastructure and Logistics

Military infrastructure and logistics is the second-largest sector within the Denmark defense market. Three separate segments make up this sector which are central logistics, facilities management, and infrastructure construction. Infrastructure construction accounts for the largest portion of the forecasted sector.

Naval vessels and surface combatants

The third-largest sector in Denmark’s defense market is naval vessels. Within this sector are two sub-segments namely corvettes and light combat vessels.

Denmark Defense Market Analysis by Sector

Denmark Defense Market Analysis by Sector

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Which are the key companies in the Denmark defense market?

Some of the key companies in the Denmark defense market are Odense Maritime Technology, Terma A/S, Systematic A/S, Wirtek AS, Rovsing AS, Air Alsie A/S, Bruel & Kjaer Sound & Vibration Measurement AS, Composhield A/S, Copenhagen Sensor Technology A/S, Damasec, DAO Aviation AS, Nordic Aviation Capital, and Satair A/S.

Market report scope

Market size (2021) $4.3 billion
CAGR >4%
Forecast Period 2022-2026
Key sectors Military Fixed Wing, Naval Vessels and Surface Combatants, Tactical Communications, Military Infrastructure and Logistics, Military Land Vehicles, Missiles and Missile Defense Systems, and Electronic Warfare
Key companies Odense Maritime Technology, Terma A/S, Systematic A/S, Wirtek AS, Rovsing AS, Air Alsie A/S, Bruel & Kjaer Sound & Vibration Measurement AS, Composhield A/S, Copenhagen Sensor Technology A/S, Damasec, DAO Aviation AS, Nordic Aviation Capital, and Satair A/S

This report provides:

  • Political alliances and political threat perceptions as well as detailing market attractiveness and emerging opportunities.
  • Budgetary trends over the next 5 years to 2026, outlining predicted expenditure as well as expected costs.

Reasons to Buy

  • Determine potential investment opportunities based on analysis and market projections.
  • Gain an understanding of the Danish defense market and potential limitations to involvement.
  • Understanding of how spending will change in the next 5 years and the impact of COVID-19.

Key Players

General Dynamics European Land Systems

Odense Maritime Technology

Terma AS

PensionDanmark

Lockheed Martin

Table of Contents

Table of Contents

Executive Summary

Defense Budget Assessment

Budgeting Process

Defense Market Size (Historical And Forecast)

Drivers Of Defense Expenditure

Analysis Of Defense Budget Allocation

Key Market Trends and Insights

Military Doctrine And Security Environment

Military Doctrine And Strategy 1

Military Doctrine and Strategy 2

Political And Strategic Alliances

Market Entry Strategy And Regulations

Defense Procurement Bodies

Funding Opportunities

Trade Associations and Defense Clusters

Types of Contracts and Opportunities

How Is The Type of Procurement Procedure Decided?

Types of European Procurement Procedure

Types of Danish National Procurement Procedure

Procurement Policy And Market Regulations

Offset Policy

Market Entry Routes

Key Challenges

Major M&A, Financing And Partnerships of the Danish Defence Market

Market Attractiveness And Emerging Opportunities

Market Attractiveness by Defense Sectors

Top Defense Segments By Value

Import And Export Market Dynamics

Import Market Dynamics

Export Market Dynamics

Defense Platform Acquisitions

Defense Platform Acquisitions By Value

F 35A

Modular Multirole Patrol Corvette

Replacement for Diana Class Patrol Vessels

MOWAG Piranha V

Long Endurance Surveillance Drones

Fleet Size

Competitive Landscape

Defense Companies Operating In Denmark

Main Defense Companies

Lockheed Martin

General Dynamics European Land Systems

Terma A /S

Appendix

Macroeconomic Indicators

About This Report

About Us

Contact Us

List of Tables

List of Tables

Table 1: Danish Ongoing Procurement Programs

Table 2: Danish Future Procurement Programs

Table 3: Top Five Danish Defense Programs by Value (US$ Million), 2019-2024

Table 4: Danish Defense Cooperation

Table 5: Danish Military Training Exercises

Table 6: Danish Defense Expenditure (DKK Billion and US$ Billion), 2015-2024

Table 7: Danish GDP Growth vs Defense Expenditure as a Percentage of GDP, 2015-2024

Table 8: Danish Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2024

Table 9: Danish Defense Capital Expenditure (DKK Billion and US$ Million), 2015-2024

Table 10: Danish Per-Capita Defense Expenditure (US$), 2015-2024

Table 11: Danish Homeland Security Expenditure (DKK Million & US$ Million), 2015-2024

Table 12: Benchmarking with Key Markets – 2015-2019 vs. 2020-2024

Table 13: Top 10 Danish Defense Sectors by Value (US$ Million) – 2019-2024

Table 14: Offset Regulations in Denmark

Table 15: Top 10 Defense Suppliers in Danish Defense Industry by Value (US$ Million), 2019-2024

Table 16: Competitive Landscape of the Danish Defense Industry

Table 17: Systematic A/S – Products and Services

Table 18: Systematic A/S – Alliances

Table 19: Systematic A/S – Recent Contract Wins

Table 20: Terma A/S – Products

Table 21: Terma A/S – Alliances

Table 22: Terma A/S – Recent Contract Wins

Table 23: Copenhagen Sensor Technology ApS – Products

Table 24: Copenhagen Sensor Technology ApS – Alliances

Table 25: Copenhagen Sensor Technology ApS – Recent Contract Wins

Table 26: Danish Aerotech A/S – Products

Table 27: Danish Aerotech A/S – Alliances

Table 28: Danish Aerotech A/S – Recent Contract Wins

Table 29: Falck Schmidt Defense Systems A/S – Products

Table 30: Falck Schmidt Defense Systems – Alliances

Table 31: Falck Schmidt Defense Systems – Recent Contract Wins

Table 32: IFAD TS A/S – Products

Table 33: IFAD TS A/S – Alliances

Table 34: IFAD TS A/S – Recent Contract Wins

Table 35: Lockheed Martin Denmark – Products and Services

Table 36: Lockheed Martin Denmark – Alliances

Table 37: Lockheed Martin Denmark – Recent Contract Wins

Table 38: TenCate Advanced Armour Denmark A/S – Products

Table 39: TenCate Advanced Armour Denmark A/S – Alliances

Table 40: TenCate Advanced Armour Denmark A/S – Recent Contract Wins

List of Figures

List of Figures

Figure 1: Denmark Defense Budget, 2020 and 2024

Figure 2: Denmark Defense Imports and Exports

Figure 3: Denmark’s Top Five Prospective Procurements/Developments

Figure 4: Denmark’s National Security Threats

Figure 5: Denmark’s Partner Countries for Defense Cooperation and Military Training

Figure 6: Danish Defense Expenditure (DKK Billion), 2015-2024

Figure 7: Danish Defense Expenditure (US$ Billion), 2015-2024

Figure 8: Danish GDP Growth vs Defense Expenditures Percentage of GDP Growth, 2015-2024

Figure 9: Danish Defense Budget Split Between Capital and Revenue Expenditure (%), 2015-2024

Figure 10: Danish Defense Capital Expenditure (DKK Billion), 2015-2024

Figure 11: Danish Defense Capital Expenditure (US$ billion), 2015-2024

Figure 12: Danish Per-Capita Defense Expenditure (US$), 2015-2024

Figure 13: Danish Homeland Security Budget (DKK Million), 2015-2024

Figure 14: Danish Homeland Security Budget (US$ Million), 2015-2024

Figure 15: Benchmarking with Key Markets – 2015-2019 vs 2020-2024

Figure 16: Benchmarking with World’s Largest and Top Regional Defense Spenders (US$ Billion), 2019 and 2024

Figure 17: Benchmarking with Large Defense Spenders as a Percentage of GDP – 2019

Figure 18: Danish Multirole Aircraft Market Size (US$ Million), 2019-2024

Figure 19: Danish Vehicular-based Tactical Communication Systems Market Size (US$ Million), 2019-2024

Figure 20: Danish Land-based C4ISR Market Size (US$ Million), 2019-2024

Figure 21: Danish Defense Procurements In Terms Of Their Supplier Relationships

Figure 22: Denmark Defense Import Trend (US$ Million), 2014-2018 (TIV Values)

Figure 23: Denmark Defense Imports by Country (%), 2014-2018

Figure 24: Denmark Defense Imports by Category (%), 2014-2018

Figure 25: Denmark Defense Exports by Value (US$ Million), 2014-2018 (TIV Values)

Figure 26: Denmark Defense Exports by Country (%), 2014-2018

Figure 27: Denmark Defense exports by Category (%), 2014-2018

Figure 28: Industry Dynamics – Porter’s Five Forces Analysis

Figure 29: Denmark Budgeting Process

Figure 30: Key Challenges in Denmark’s Defense Market

Figure 31: Denmark Market Share Analysis, 2019-2024

Figure 32: Lockheed Martin – Revenue Trend Analysis (US$ Billion), 2014-2018

Figure 33: Lockheed Martin – Operating Profit Trend Analysis (US$ Billion), 2014-2018

Figure 34: Lockheed Martin – Net Profit Trend Analysis (US$ Billion), 2014-2018

Figure 35: Denmark’s GDP Per Capita (US$), 2015-2025

Figure 36: Denmark’s GDP (current US$ Billion), 2015-2025

Figure 37: Denmark’s Exports of Goods and Services (current LCU Billion), 2005-2014

Figure 38: Denmark’s Imports of Goods and Services (current LCU Billion), 2005-2014

Figure 39: Denmark’s Gross National Disposable Income (US$ Billion), 2005-2014

Figure 40: Denmark’s DKK per US$, 2015-2024

Figure 41: Denmark’s Market Capitalization of Listed Companies (US$ Billion), 2005-2012

Figure 42: Denmark’s Market Capitalization of Listed Companies (% of GDP), 2005-2012

Figure 43: Denmark’s Government Cash Surplus/Deficit (% of GDP), 2005-2012

Figure 44: Denmark’s Goods Exports (% of GDP), 2005-2014

Figure 45: Denmark’s Goods Imports (% of GDP), 2005-2014

Figure 46: Denmark’s Services Imports (% of GDP), 2005-2014

Figure 47: Denmark’s Services Exports (% of GDP), 2005-2014

Figure 48: Denmark’s FDI, net (BoP, Current US$ Billion), 2005-2014

Figure 49: Denmark’s Net FDI (% of GDP), 2005-2014

Figure 50: Denmark’s Mining, Manufacturing, Utilities Output (LCU Billion), 2005-2014

Frequently Asked Questions

The Danish defense budget stands at $4.3 billion in 2021.

 

 

The defense market in Denmark is expected to grow at a CAGR of more than 4% during the forecast period.

The key sectors in the Denmark defense market are military fixed-wing, naval vessels and surface combatants, tactical communications, military infrastructure and logistics, military land vehicles, missiles and missile defense systems, and electronic warfare.

Some of the key companies in the Denmark defense market are Odense Maritime Technology, Terma A/S, Systematic A/S, Wirtek AS, Rovsing AS, Air Alsie A/S, Bruel & Kjaer Sound & Vibration Measurement AS, Composhield A/S, Copenhagen Sensor Technology A/S, Damasec, DAO Aviation AS, Nordic Aviation Capital, and Satair A/S.

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