What Happened
Dual-Use Startups See Increased Investment And Acquisition Interest
A new report from Balnord and the Polish Development Fund examines Europe’s evolving dual-use market, including the growing interest from industrial buyers and the factors shaping acquisition valuations. The report identifies 85 European dual-use acquisitions announced between September 2025 and September 2026, with industrial groups accounting for 19% of transactions. This development may signal a shift in Europe’s defence industry, with industrial buyers playing a larger role in dual-use startups. The report was published by Resilience Media.