For the first time in more than 30 years, Europe’s defence sector is hot property.
After decades in which European military budgets were squeezed to fund other commitments, US President Donald Trump’s hardline approach towards Ukraine and calls on allies to shoulder more of their security burden have forced the region’s leaders into action. Governments are promising to unlock hundreds of billions of euros to mobilise their industrial base and plug gaps in their arsenals.
The region’s defence groups have benefited from higher spending following Russia’s full-blown invasion of Ukraine three years ago, with new government orders boosting backlogs to record highs.
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