While the defense industry worldwide has grown at a tremendous pace in recent years, revenues among European defense companies have stagnated over the same period, and the region’s biggest players have lost market share to US and Chinese counterparts.

The main reason for this development is that defense and security spending decisions are made at a national political level, with each country having their own national industry champions. For European governments, this situation results in high-cost defense equipment and does little to fill national capability gaps.

No single country has a comprehensive portfolio of equipment and capabilities across the air, land, sea, cyber, and space domains. At a European level, the full capability spectrum does exist, but systems are not designed to work together, thereby hindering interoperability and the deepening of an independent European defense capability.

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