Raising Sweden's defense spending to 3.5 percent of GDP could generate around 48,000 new jobs and boost annual business revenues by approximately 110 billion kronor by 2035, according to an analysis by consulting giant EY.
A significant portion of this growth is expected to occur outside the traditional defense industry, particularly within technology, energy, construction, logistics, as well as manufacturing and service companies.
"It is crucial to have strong cooperation between defense and an active business sector, where experience and expertise from the civilian market are utilized. This is a prerequisite for the ongoing transformation to be robust and sustainable, and for Sweden to scale up its capabilities at the required pace," says Fredrik Sjöström, Partner and Head of National Security & Defence at EY Sweden.
SAAB AB is a world leader in the design, manufacturing and marketing of defense and security systems and equipment for military, space and civil sectors. Net sales break down by family of products and services as follows:
- electronic defense systems (33.4%): radars, sensors, submarine and terrestrial airborne surveillance systems;
- armament equipment and systems (25.6%): military equipment, missile systems, weapon systems, ammunition, armed forces identification systems, camouflage systems, etc. The group also provides security and defense solutions (combat systems, training, simulation, security and communication solutions, air and sea traffic management systems, etc.);
- aeronautical systems (24%): military aircraft, combat aircraft, avionics, etc.;
- naval systems (11.8%): submarines, combat ships, underwater mine detection systems, etc.;
- support services (4.2%): provision of services in the areas of systems development, integration and security, information security, communications, technical information, logistics, etc., and technological consulting in the fields of aviation, defense, telecommunications, etc.;
- other (1.1%).
Net sales are distributed geographically as follows: Sweden (41.1%), Europe (25.8%), North America (8.9%), Asia (7.4%), Latin America (4.3%), Australia (3.8%), Africa (0.6%), and other (8.1%).
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