The production in Finland's Manufacture of Weapons and Ammunition sector saw fluctuating trends from 2015 to 2023 with the value standing at 148.5 million Euros in 2023. The sector faced declines in early years; 2016 and 2017 recorded year-on-year decreases of 5.22% and 1.67% respectively. However, since 2018 the sector has experienced consistent growth, notable peaks being 11.19% in 2019 and a steady CAGR of 4.1% from 2019 to 2023.
Forecasts indicate continuous growth from 2024 to 2028, with an estimated value of 167.9 million Euros by 2028, which represents a 5-year CAGR of 1.94% and a forecasted growth rate of 10.1% over these years.
Future trends to watch for include:
- Technological advancements in weaponry and ammunition manufacturing.
- Regulatory changes in arms production and export policies.
- Global geopolitical dynamics influencing demand for military equipment.
