By Juhana Rossi 

TURKU, Finland--U.S. and European warplane makers have descended on the airport of this Finnish city this weekend to market their aircraft as the Nordic nation is looking to renew aging fighter jets and revisit its geopolitical stance amid growing tension with its Russian neighbor.

Boasting the largest pavilions at the air show on Turku's tarmac are Lockheed Martin Corp. of the U.S. and Sweden's Saab AB, which are seen as the lead contenders with their F-35 and Gripen aircraft.

"It is important to get your message out there," Anders Gardberg, head of Saab's Finnish operations, said Friday as he arrived at the three-day event.

Although Finland may take a long time before picking a supplier, the planned order highlights how the Nordic and Baltic region has been ramping up military spending since Russia annexed Crimea from Ukraine last year.

Just days ago, Finland said it would buy nearly $50 million worth of antitank missiles from Sweden. Sweden itself has announced plans to retrofit warships previously set for retirement and increase its submarine fleet while Poland is budgeting for new naval vessels, helicopters and coastal defense systems.

The aircraft order will also come as a test to Finland's long-standing tradition of military neutrality between East and West. Russia's westbound push, compounded with the recent series of close encounters between Russian and Western jets in Baltic and Scandinavian skies, have led Helsinki to study whether the country should come closer, and even perhaps join the North Atlantic Treaty Organization.

Finland's new government has said it would commission a report on what joining the alliance would entail. While support for NATO membership has grown, 60% of Finnish voters oppose it, according to a survey published late last year.

Selecting Saab's Gripen, analysts say, could help Finland reaffirm its position in the neutral camp, together with non-NATO member Sweden. Meantime, going for Lockheed Martin's F-35, a plane ordered by the U.S. and several other NATO nations, would bring Finland ever closer to the military alliance.

"If Finland really sees the possibility of a full-blown war between NATO and Russia with Finland fighting to survive alongside the alliance, the F-35 is unquestionably the right choice," said Richard L. Aboulafia, an analyst at Teal Group, a U.S. consultancy.

A byproduct of World War II, Finland's tradition of military neutrality was enshrined in a 1948 treaty of friendship the country signed with the Soviet Union. During the Cold War, Finland sought to maintain itself at equal distance between Moscow and Washington and adopted an informal policy of splitting its defense-material procurement evenly between the Soviet Union and Western nations.

Illustrating the balancing act in Turku will be a Soviet-made MiG-15, which was part of Finland's diverse inventory, and is scheduled to fly in the air show under its authentic Finnish markings.

The 1948 treaty was annulled in the wake of the Soviet Union's dissolution in 1991, and Finland decided to replace its mixed fleet of Soviet and Western fighters with U.S. F/A-18 Hornets.

Still, the legacy of military nonalignment remains deeply rooted in Finland's foreign-policy thinking.

In Turku, Saab and Lockheed Martin pulled no punches.

As a Gripen taxied on the tarmac, Saab's Mr. Gardberg, who is a Finnish taxpayer, said the Swedish jet would be well-suited for fiscally stressed Finland because it comes with low operating costs.

Across the airport, Yung A. Le, who is leading Lockheed Martin's sales drive in Northern Europe, said he was confident that Finland wouldn't make its choice on cost alone, and that the F-35 would be better off than the Gripen in a fight against Russian jets.

"The Gripen is constantly being upgraded," Mr. Gardberg shot back. "It has kept up with times."

As Finnish Air Force officials toured the air show, local pilots said they have little nostalgia for Soviet planes.

The MiG-15 "handled pleasantly once aloft, but it was a rather clumsy aircraft on the ground because it had a stiff landing gear and weak brakes," said retired test pilot Jyrki Laukkanen, who flew the Soviet jet during his long career under the Finnish flag.

Christina Zander contributed to this article.

Write to Juhana Rossi at juhana.rossi@wsj.com

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