Scandinavian States' Military Spending Rise, Boost to Defence Industry

摘要

The current geopolitical challenges in the Baltic region spurred the increase in military spending among the Nordic states in recent years. Increasing threats from Russia has prompted these countries to equip themselves with the latest state-of-the-art systems and weaponries. To address the issue, each nation is placing high emphasis on their respective national programmes. Denmark is positioning more troops on the Baltic Sea. Sweden is preparing its entire military organisation in case of heightened alerts as the nation is emphasising on conscription service for its armed forces. Norway, which historically been spending the most on defence, is advancing its new F-35 fighter aircraft programme. Thus with these factors, it is believed that the Nordic states will continue to increase its budget on defence in years to come. This new development, undoubtedly has a positive impact for the Nordic defence industry as whole. Not only the industry is readily fulfilling the requirements of their respective armed forces, but some of the Nordic companies have even been absorbed in the global supply chain.