The Manufacture of Weapons and Ammunition sector in Finland saw fluctuations in turnover between 2015 and 2023. The turnover decreased from 125.5 million Euros in 2015 to 118.1 million Euros in 2018, showing a negative trend with year-on-year decreases in 2016, 2017, and 2018. A significant positive turnaround occurred in 2019 with a 14.23% increase, followed by steady growth from 2020 to 2023, reaching 147.9 million Euros in 2023. The year-on-year variations for 2022 and 2023 were respectively 2.86% and 2.78%. The 5-year CAGR from 2018 to 2023 was 4.6%, indicating consistent sector growth.
From 2024 onwards, forecast data suggests progressive growth. The turnover is expected to increase to 167.5 million Euros by 2028, implying a 5-year CAGR of 1.97% and an overall forecast 5-year growth rate of 10.27%. Future trends to watch for include the impact of global geopolitical changes, advancements in defense technology, and shifts in government defense spending policies, which could further influence sector growth. Monitoring these factors is crucial for anticipating future market dynamics in the Finnish weapons and ammunition manufacturing industry.
