北欧国防技术报告&#8211；2024

Page/ 2Source:IntroductionGrowing geopolitical tensions and rapid tech advancements underscorethe importance of dual-use technologies in shaping Europeʼs and theNordics' defence landscapes. These technologies, spanning civilian andmilitary applications, are increasingly critical for national security,economic resilience, and technological leadership.The global defence market is projected to reach$2.6 trillion by 2030,withquantum computing and space techplaying key roles. Quantumpromises breakthroughs in encryption and cybersecurity, while spacetechnologies are essential for intelligence and surveillance. Theseinnovations drive progress not only in defence but also in civilian sectorslike telecommunications, energy, and healthcare.The recent Nordic Defence Conference emphasized the urgency ofinvesting in dual-use tech to sustain competitive advantage in both civiland defence realms.This report delves into dual-use tech investment across the Nordics andEurope, exploring how innovations in quantum and space tech arereshaping the future of defence and beyond.Dealroom.co $1B+VC investmentKey Figures$3.7BEnterprise Value ofDefence & Dual-use76%Share of Defence &Dual Tech VC fundinggoing to Space andQuantum since 2019130+Defence & Dual-usein the Nordics startupsstartups since 2019 Page/ 3Source:ecfr.eu. *The index evaluatescountries' capabilitiesbased on defence spending, troop deployments in joint missions, membership andcontributions to military alliances, industrial cooperation, and military equipment. (June 2022)Denmarkplans to raise defence spending to 2.4% of GDP in 2024,exceeding NATOʼs 2% target. This $26 billion, decade-long plan includesmajor investments in cyber defence, military intelligence, andconscription to modernize Denmarkʼs military and sustain a 2% spendinglevel by 2030.Sweden, the latest Nordic country to join NATO, aims to reach 2.6% ofGDP by 2030. Already, Sweden has doubled its defence budget since2020, allocating around $11 billion in 2024 to meet NATOʼs 2% GDPtarget.Norwayannounced a “historic boost” in defence spending, with plans todouble its budget over the next 12 years by adding €51 billion. Thisincrease will support an expanded industrial base and armed forces,helping Norway meet NATOʼs 2% goal for the first time in 2024.Finland, following NATO accession in 2023, will allocate 2.3% of GDP(around €6 billion) to defence in 2024, with a focus on reinforcing bordersecurity.Europe sovereignty index as of 2022 - defence*Nordic countries announced ramp-up of defence plansCountryOverallCommitmentsCapabilitiesFrance8.710.07.3Germany6.88.25.3Italy6.56.66.5Netherlands6.47.75.1Belgium6.37.55.0EU5.96.85.0Greece5.75.95.6Spain5.35.35.3Estonia4.97.02.9Poland4.96.33.4Portugal4.75.24.1Slovenia4.56.42.6Denmark4.44.54.4Lithuania4.36.42.2Finland4.26.02.4CountryOverallCommitmentsCapabilitiesCzech Rep.4.25.03.3Romania4.04.93.1Sweden3.73.83.6Luxembourg3.74.23.2Cyprus3.55.61.4Austria3.44.52.4Latvia3.44.82.0Croatia3.23.72.8Bulgaria3.23.92.5Slovakia3.13.92.3Hungary2.93.42.4Ireland2.13.11.0Malta2.13.80.4The Nordics have lagged behind EU average in defence capabilities*. All are nowstrongly boosting defence spending, and as of March 2024, all have NATO membership. Page/ 5Dual-use techAny startups developing technologies,products or services with disclosedorclear potentialapplication inthe defence sector.Examples: quantum technologies,space tech, etc.Defence terminology.Source:Dealroom.co DefenceCore company focus are technologies applied for military use.Examples of Nordic startups:Defence applicationsCompanies working on different segments and one application is defence.Examples of Nordic startups: 130+ Nordics Defence Tech & Dual-use startups 1The rise of defence and dual use tech2Ecosystem today3Industry perspectives Page/ 8The defence anddual-use techecosystem in theNordics is nowworth $3.7B. Page/ 9VC Investment in defence & dual-use tech continues to fluctuate yet is on anupward trend, with funding hitting its peak in 2022 at $369M.CompanyAmountRoundDateCategory$12MSeries AOct 2022C4ISR -Semiconductors$4.8mEarly VCApr 2023C4ISR -Surveillance$9.3mLate VCJan 2016C4ISR -Communication$9.6mSeries AMar 2023C4ISR -Surveillance$2.2mSeedSep 2023UAV$2.2mSeedMay 2024Marine AI$1.3MSeedNov 2024Counter UAVVC funding in Nordic defence and dual-use tech startups▊Defence▊Defence application▊Space▊Quantum Computing▊Rest of dual-use tech▊ProjectedSelected Defence and Defence application rounds*View online »Source:Dealroom.co | *Space and Quantum rounds highlighted in later slides. | C4ISR: Command, Control, Communications,Computers, Intelligence, Surveillance and Reconnaissance Page/ 10VC funding by business modelShare of Deep tech startups▊Manufacturing & hardware▊SaaS & Manufacturing/hardware▊SaaSVC investments have largely favored manufacturing & hardware, with 64% of nordic startupsremaining in deep tech, indicating a focus on long-term innovation over short-term deployment.Source:Dealroom.co Page/ 11Source: