Aker Solutions SWOT Analysis
Here is a detailed SWOT analysis of Aker Solutions covering strengths, weaknesses, opportunities and threats.
Aker Solutions Strengths
- Leading market position - confers economies of scale and enhances the brand image of the company
- Diversified product portfolio and well balanced revenue stream –the company provides products and services to industries including oil and gas production, refining and chemicals, pharmaceuticals and
- Biotechnology, and mining and metals. It operates through three businesses segments: product solutions; field life solutions; and engineering solutions. Revenues from the three segments are well balanced
- Global presence - Aker is present in about 30 countries across major continents spanning Australia, Asia, Middle East, South America, Africa, North America, and Europe.
- Over 20,000 employees are a part of the organisation
- Based out of Norway, it is one the largest companies in the country
Above are the strengths in the SWOT Analysis of Aker Solutions. The strengths of Aker Solutions looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Aker Solutions Weaknesses
- Declining Order backlog can have a negative impact on its revenue growth and on investor confidence
- Limited geographic reach as compared to other leading players in the industry
These were the weaknesses in the Aker Solutions SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Aker Solutions Opportunities
- Strategic acquisitions - can help Aker in increasing its market penetration, expand its product lines, and improve its operational flexibility
- New contracts across the globe which is a key market for the company. Aker collaborated with Murphy Sabah Oil to deliver a subsea production system for the Siakap North Petai deep water development. Aker has also won several other contracts across the globe, which will give the company scope to grow
Above we covered the opportunities in Aker Solutions SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Aker Solutions Threats
- Intense competition for new contracts - Since financial strength is a major factor in deciding the granting of a contract, the company may lose contracts to larger players. Intense competition may negatively impact the company's operations and its financial condition
- Government regulations and environmental issues - Government regulations often limit access to potential markets and impose extensive requirements concerning environmental protection and pollution control.
- Foreign exchange rate risks - Besides Norway, the company generates revenues from other European countries, and in Asian and North American currencies. Changing foreign currency exchange rates could have a material impact on the company’s earnings and cash flows.
The threats in the SWOT Analysis of Aker Solutions are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Aker Solutions SWOT analysis.
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About Aker Solutions
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Aker Solutions Overview | |
|---|---|
| Parent Company |
Aker Solutions |
| Category |
Construction Services |
| Sector | |
| Tagline/ Slogan |
Taking the next step in the global oil and gas success story |
| USP |
World leader in the design and supply of deck machinery and mooring systems for marine and offshore applications |
| Aker Solutions STP | |
| Segmentation |
Engineering and Construction services |
| Target Market |
Enterprises and corporates |
| Positioning |
Positioned as a company that brings together engineering and technologies for oil and gas drilling, field development and production |
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