Codan already sell products into the defense space. This space is dominated by Harris Corp of the US with over a billion dollars of sales and the only Tier 1 provider to the US military. Codan competes for sales in the Tier 2 market (crowded with a whole buch of competitors like Barrett, Icom, Thales, Danimex, etc) - a shrinking pie with little differentiation in product offering mainly driven by pricing. Things would only pickup if some of the smaller competitors in this space faded away.
competition in africa, page-10
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