Financial TimesFinancial Times

Europe’s defence sector: will war in Ukraine transform its fortunes?

By Sylvia Pfeifer

18 Jul 2022 · 10 min read

Editor's Note

How has the war in Ukraine transformed the European defence sector? The Financial Times' Big Read dives into Europe's approach to the sector: replenish, replace and rebuild.

Governments have pledged a surge in spending but some companies fear much of the money will go on US equipment Hundreds of defence and aerospace executives will this week descend on an airfield in southern England along with ministers, generals, air marshals and hangers-on, to attend the industry’s version of the Glastonbury music festival.

This year, they will meet with a renewed sense of purpose. Until it was interrupted by the Covid-19 pandemic, the Farnborough International Airshow has been a regular event for more than seven decades. But for the first time in many years, the industry is relishing the prospect of a flood of money coming its way.

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