What Happened
Defense Spending Surge Drives Unprecedented Growth
European defense firms have seen record backlogs due to a surge in procurement spending, which has increased by over 160% since 2021. The largest defense primes have reported backlog increases of over 75%, reflecting unprecedented demand for defense capabilities. This growth is driven by increased regional security concerns and may lead to further investment in the sector. According to Aviation Week, European defense spending has reached new heights, with this data reported in Aerospace Daily & Defense Report.