Interesting how the war will go. My speculations
Capia's is proud of its navy that consists of 3 5000t cruisers, 5 3000t frigates, 10 1000t destroyers, and no more than 20 200t ships, it has nothing in the same class as our PT boats. Its airforce appears to be at least 1000 biplanes of the old design used by Morovia purchased starting before our conflict and accelerating afterwards. Its infantry is approximately 35k with extesive artillery support by 50mm, 75mm and 100mm cannons. They have tanks, but they are slower than ours.
Likely advancement since that time
1) Few more naval vessels
2) More artillery, maybe something heavier
3) New tank with powerful gun (They are artillery based nation after all)
4) AA guns
5) New aircraft roughly equal to zephyrs
Naval war:
I hope that we'll do a nice initial blow... If not all we can hope for is coastal guns, fleet of Righteous, new subs and air support... Our navy is not only outnumbered, it's badly outdated and optimized for ASW not for surface combat
Land war: I expect heavy losses to enemy superior artillery. We have no modern howitzers and they surely do (naval power must have good guns). We are likely behind for a decade or more designwise in that field (that makes our attempt to make uberATgun even more doubtful, as we got no enough experience) Tanks, I dunno... Think we have advantage number-wise, but not sure about quality
Infantry I expect that we are ahead here, SVA-10s, SMGs, simple RPGs.. All looks nicely. Add mobility to that... What I dislike - too few mortars and, especially, grenades ( Would really prefer factory making it to factory making SMGs)
Air warHere I expect that we will rule as we are ahead for years. Zephyrs should rape their older biplanes, New fighter should rape zephyr equivalents, fleet of older biplanes will work in ground attack and drop supplies roles... Sadly we haven't managed to build something to use paratroopers on large scale, only some small airships. And we can't deploy gilders at all(Not if our new fighters are powerful enough to tow them, something I doubt) Thanks to the "important" new tank chassis, AT gun and uberbattlebus projects for severely limiting our paratrooping like that.
To RAM
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We need 25mm for many others projects, and our future light tanks shouldn't worry much about enemy tanks, so lighter, faster turret, for dual AA\ground support role is nice to have.
And 40mm gun is absolutely unsuitable for arming fighters. That's not a dogfighting weapon
As for carrier defenders... It's too hard to supply modern fighters like that. And docking midair will be almost impossible , you need to match speeds to dock, but stalling speed of fighters is far lower than max spped of airships. The best thing possible - fighters will be attached to carriers to save fuel, but will still need to land on airbases and may be reattached only when carrier is landed... but such scheme gives no clear advantage over fighters shifts