European defense industry investments rose to a new record high in 2024, with the United Kingdom topping direct private equity investments in the sector, new research from Heligan Group shows. According to the Birmingham, England-based investment bank analysis, European startups received venture capital funding of about $5.2 billion, almost a fivefold jump in six years,...
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Category: Europe
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UK Space Agency to Improve Efficiency in Department of Science Innovation and Technology Merger
The U.K. Space Agency will be integrated into the Department of Science Innovation and Technology to help streamline the agency’s support to the British space sector and eliminate bureaucratic red tape. The U.K. government said Wednesday that UKSA will join DSIT starting April 2026 and retain its name, with its staff drawn from both organizations....
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Raytheon Partners With Diehl Defence for Stinger Production in Europe
Raytheon, an RTX business, is collaborating with Diehl Defence to co-manufacture key elements of its Stinger missile in Europe. The deal is part of a recently signed memorandum of understanding extending Stinger production in the region. Diehl Defence specializes in air defence systems, providing guided missiles, ammunition, and protection systems to German and international armed...
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Saab Seeks to Strengthen Supply Chain With Shipbuilding Metal Fabricator Acquisition
Saab has acquired Deform, the Swedish shipbuilding metal fabricator, in a move to strengthen the supply chain for Sweden’s defense sector. Founded in 1907, Deform specializes in the hot and cold fabrication of various metallic materials. The company focuses on pressure vessels, metal protection components, heavy fabrication and heavy equipment. Deform will keep its name...
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Norway Orders OSL Anti-Drone Platform Under 4-Year, $91M Procurement Pact
Operational Solutions Ltd will supply Norway’s armed forces with anti-drone systems under a four-year framework agreement with the Norwegian Defence Materiel Agency. The contract value is up to $91 million. The contract’s first order will provide counter-unmanned aerial systems to the Ørland Air Station of the Royal Norwegian Air Force, OSL announced Friday. The Reading,...
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Rheinmetall Names Vera Saal as New Labor Director
Vera Saal will succeed Ursula Biernert-Kloß as the labor director on Rheinmetall’s management board, effective Sept. 1. CEO Armin Papperger will temporarily fill the position until Aug. 31. In addition to her new role, Saal will also serve as the chief human resource officer. According to her LinkedIn profile, she has held several leadership positions...
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Lithuania Draws Up Three-Layer Defensive Border Strategy
The Lithuanian Ministry of National Defence has unveiled a new multi-layered defensive line to enhance national security, aiming to delay or halt adversarial forces from entering its borders. Lithuania shares a border with Russia, called Kaliningrad Oblast, and a longer frontier with Belarus that stretches about 679 kilometers. “Lithuania is shifting from individual counter-mobility measures...
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Accenture to Acquire CyberCX in Major Asia-Pacific Expansion
Accenture is set to acquire CyberCX, a cybersecurity services provider with a strong presence in Australia and New Zealand. The deal, announced on Thursday, is expected to significantly expand the company’s capabilities in the Asia-Pacific region to protect critical infrastructure, strengthen business resilience and drive secure enterprise transformation. The acquisition terms remain under wraps, and...
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Porsche Eyes Opportunities in Defense, Plans First ‘Defense Day’
Porsche SE is set to broaden its involvement in the defense industry, according to a Wednesday report from Reuters. The Germany-based holding company will establish an investment platform with other partners to back emerging defense businesses. As part of this push, Porsche will host a “Defense Day” event to connect German and European family offices...
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Lockheed Martin to Modernize Poland’s F-16 Fleet for $3.8B
Poland’s Ministry of National Defence has signed the terms of an agreement with the U.S. government to modernize its F-16 fleet. Lockheed Martin said it will upgrade the Polish Air Force fleet of 48 F-16 Block 52+ fighter jets to the F-16 Viper configuration. Learn more about global developments reshaping the defense sector’s dynamics at the...