Defense Industry of Sweden to invest US$36.5 billion in strengthening Swedish armed forces 1410131

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Defence & Security News - Sweden
 
 
Monday, October 14, 2013 10:48 AM
 
Defense Industry of Sweden to invest US$36.5 billion in strengthening Swedish armed forces.
The defence industry in Sweden has a long history, dating back to the time when Sweden was a more active military power. Sweden is expected to invest US$36.5 billion in strengthening its armed forces. The country's military expenditure will be directed toward the purchase of new defence systems, international peacekeeping missions, and strengthening its borders.
     
The defence industry in Sweden has a long history, dating back to the time when Sweden was a more active military power. Sweden is expected to invest US$36.5 billion in strengthening its armed forces. The country's military expenditure will be directed toward the purchase of new defence systems, international peacekeeping missions, and strengthening its borders.
Swedish Company SAAB booth at Defense exhibition
     

Although there is a slight increase in the country's total defence budget, military expenditure as a percentage of GDP is predicted to decrease from 1.2% in 2013 to 1.0% by 2018. This is primarily because the nation's defence expenditure is not expected to grow at the same rate as economic growth.

Sweden intends to improve the mobility and the sophistication of its armed forces, to increase their focus on missions.

Due to this, Sweden is anticipated to procure defence equipment such as modified minesweepers, submarines, command and control systems, tactical helicopters, new-generation submarines, mobile artillery-hunting radar systems and armoured vehicles, and next-generation Gripen aircraft.

Pressure to increase the defence budget to effectively transform the Swedish forces from a conscription army to a voluntary force, is expected to drive the defence budget.

The Swedish defence industry's largely independent nature remains a great strength. The need to independently produce defence systems has given rise to a great level of technical and manufacturing competency from Swedish companies.