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European defence sector's turnover surges 13.8% to €183bn in 2024
- European defence turnover rose 13.8% in 2024 to €183 billion, with direct employment at a record 1.103 million.
- Defence growth remains a priority as Europe seeks supply-chain sovereignty and strategic autonomy.
- EU plans to boost defence funding and ease procurement to accelerate domestic production.
- Defence spending surged after Russia’s invasion, elevating Europe’s focus on military readiness.
- The 7-year EU budget proposal reflects defence priorities with €131 billion earmarked for defence.
- Discussions continue over whether to prioritise European-made gear or off-the-shelf imports.
- ASD report covers about 4,000 European defence companies under its umbrella.
- European defence sector seeks to strengthen sovereignty within a shifting geopolitical landscape.
- The defense sector's growth underscores Europe’s push to back domestic capabilities.
- European defence spending increased as EU aims to prepare for greater military capabilities.
- ASD president emphasized sustained investment to avoid past mistakes.
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