Democracies must also have the military, security and resilience backbone capable of defending our freedoms from autocratic advance.
Strengthening Defence
Modern warfare is evolving rapidly through technological innovation. Democracies must be in the vanguard.
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Despite increased defence investment over the past decade, Europe's defence industry remains inadequate to address the conventional and hybrid threats it faces.
Critical capabilities like air defence and military mobility still depend heavily on the United States. Meanwhile, Russia tests new unmanned systems in Ukraine, and China advances in autonomous systems, cyber, and space technologies.
Despite increased defence investment over the past decade, Europe's defence industry remains inadequate to address the conventional and hybrid threats it faces.
Critical capabilities like air defence and military mobility still depend heavily on the United States. Meanwhile, Russia tests new unmanned systems in Ukraine, and China advances in autonomous systems, cyber, and space technologies.

While national governments must rapidly exceed the two percent NATO spending target, public funding alone cannot address all capability shortfalls.

Europe's defence tech sector lacks the capital needed for innovation, scaling, and bringing new technologies to market. Yet the fundamental challenge also extends beyond spending: Europe needs a comprehensive transformation to attract private capital, develop new production models suited to asymmetric warfare, and build sovereign, resilient defence infrastructure.
We will shortly announce new strategic initiatives focused on strengthening Europe's defence ecosystem by reimagining private investment flows and production capabilities.