Defense Conglomerate
Appears in 2 stories
Publicly traded on Euronext Amsterdam; stock hit 52-week low of €12.20 in June amid governance disputes before recovering toward €15 after NATO Ankara Summit; confirmed order book now €17B; three simultaneous legal disputes continue to weigh on shares
Global military spending hit $2.89 trillion in 2025, a record; European allies were already spending roughly 4% of GDP on defense when NATO leaders met in Ankara on July 7–8. The summit produced a pledge of €70 billion in military support for Ukraine in 2026 and a new $40 billion, five-year drone investment program called NATO's Drone Edge.
Updated Yesterday
Completed record-breaking defense IPO on Euronext Amsterdam
For three decades, the Pentagon told defense contractors to consolidate. Now it's paying $1 billion to help one spin off, taking an equity stake in L3Harris's solid rocket motor business in January 2026 — the first time it has directly invested in a defense supplier. Congress passed an $838.7 billion FY2026 defense budget with $2.9 billion for munitions and industrial capacity expansion, while Raytheon announced five framework agreements to triple Tomahawk production and double AMRAAM output.
Updated May 22
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