The aggregate turnover (civilian and defence sectors) by members of the Lithuanian Defence and Security Industry Association (LGSPA) totalled EUR 128 million in 2014.
Head of the LGSPA, Vaidotas Malinionis said that the market will grow due to the geopolitical situation. The EU and NATO countries began to increase defence spending and this will have influence the growth of defence industry across Europe. According to Malinionis, some companies of the LGSPA have worked with foreign partners for several years, based on the increased demand and the number of contracts it is expected that Lithuanian defence and security sector will increase export volume by at least 30 percent. Although only several Lithuanian companies are focusing on export markets, yet all companies have vast opportunities to offer their services. Thus one of the goals is to enhance participation of Lithuanian companies in the development of defence and security industry.
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