Finnish defense industry experiences significant growth with 370 companies in Finland

Finnish defense industry is experiencing significant growth, according to a recent study by Finnish Industry Investment, known as Tesi. The research reveals that there are approximately 370 defense industry companies in Finland, with 144 classified as fast-growing startups and growth companies.

Most of the rapidly expanding defense firms are dual-use companies, meaning their products and services can be utilized for both civilian and defense purposes. Tesi operates as a state-owned venture capital firm in Finland, focusing on promoting innovation and growth in various sectors, including the defense industry.

This rise in activity within the defense sector aligns with global trends, as many countries are increasing their defense budgets and seeking advanced technological solutions. Finland’s robust support for startups in this field suggests a strategic commitment to enhancing national security and bolstering its defense capabilities. The findings of this study could position Finland as an increasingly important player in the international defense market.