Finland: Radar Apparatus Market 2022

Radar Apparatus Market Size in Finland

The Finnish radar apparatus market was finally on the rise to reach $X in 2021, after five years of decline. In general, consumption, however, saw a noticeable reduction. Radar apparatus consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Radar Apparatus Production in Finland

In value terms, radar apparatus production declined significantly to $X in 2021 estimated in export price. Overall, production, however, saw a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 211%. Radar apparatus production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Radar Apparatus Exports

Exports from Finland

Radar apparatus exports from Finland fell remarkably to X tons in 2021, reducing by -25.1% compared with the year before. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 92% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, radar apparatus exports expanded markedly to $X in 2021. Over the period under review, exports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2014 with an increase of 101%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), Russia (X tons) and Italy (X tons) were the main destinations of radar apparatus exports from Finland, together comprising 46% of total exports. These countries were followed by Egypt, Uzbekistan, Guyana, Albania, Georgia, Mexico, Indonesia, the United States, Turkey and the United Arab Emirates, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +138.3%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) emerged as the key foreign market for radar apparatus exports from Finland, comprising 26% of total exports. The second position in the ranking was held by Guyana ($X), with a 10% share of total exports. It was followed by Egypt, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea amounted to +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (0.0% per year) and Egypt (+63.2% per year).

Export Prices by Country

The average radar apparatus export price stood at $X per ton in 2021, increasing by 53% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, radar apparatus export price increased by +111.8% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Radar Apparatus Imports

Imports into Finland

Radar apparatus imports into Finland surged to X tons in 2021, with an increase of 32% compared with the previous year's figure. Overall, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 166%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, radar apparatus imports skyrocketed to $X in 2021. Over the period under review, imports recorded a pronounced increase. The most prominent rate of growth was recorded in 2017 when imports increased by 83% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), Hungary (X tons) and the Netherlands (X tons) were the main suppliers of radar apparatus imports to Finland, with a combined 53% share of total imports. These countries were followed by Denmark, Germany, Switzerland, Belgium, the United States, Canada, Japan, China and Spain, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were in Denmark (with a CAGR of +173.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and the United States ($X) were the largest radar apparatus suppliers to Finland, together accounting for 53% of total imports. The Netherlands, Italy, Switzerland, Denmark, Belgium, Canada, Japan, China and Spain lagged somewhat behind, together accounting for a further 31%.

Denmark, with a CAGR of +159.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average radar apparatus import price stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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