Published Date: July 27, 2026
Author: HANetf
European Defence Names Getting NATO Summit Contracts – NATO officials touted more than $50 billion in defence procurement in pursuit of meeting NATO’s 5% of GDP spending targets. Some of the key European company beneficiaries are:
SAAB – Swedish defence equipment maker said NATO will begin formal negotiations on the acquisition of up to 10 GlobalEye airborne early warning and control aircraft. Saab could start deliveries as soon as 2030, and the final price would be roughly $400 million to $450 million per aircraft. 1
RHEINMETAL – Rheinmetall signed a memorandum of understanding to jointly produce ATACMS missiles in Germany with Lockheed Martin, a move that would mark the first manufacture of the short-range ballistic missile outside the US. Separately, the US will establish a maintenance facility in Europe for Lockheed Martin’s advanced PAC-3 air defence missile, and a European manufacturing facility is also a possibility.1
AIRBUS – NATO will launch a strategic airlift fleet of Airbus A400M transport planes and expand its A330 MRTT tanker fleet by one aircraft.1
ISAR AEROSPACE – German rocket maker Isar Aerospace signed a contract with Canada’s Maritime Launch Services to build and use a dedicated launch pad for its Spectrum rocket at Spaceport Nova Scotia, eastern Canada.1
LEONARDO – IT consulting firm Accenture and Italian defence company Leonardo signed a seven-year contract worth about 200 million euros to design and operate a secure NATO communications network.[1]
European Infrastructure Ill-Equipped for Heat Waves – Recent heat waves have left European’s sweltering in the heat across Europe. France experienced temperatures as high as 43.3°C (110°F) and Britain saw high temperatures of 38.8°C (101.8°F). Extreme heat is becoming the new normal in Europe as heat waves across the continent have been exacerbated by climate change. Europe is warming twice as fast as the rest of the world—it’s the fastest warming continent in the world and the second fastest region after the Arctic. In many European countries, homes and buildings are old and not designed for cooling. In fact in some countries, like England and France, homes act as a furnace. Air conditioning is not prevalent in Europe with only about 20% of European homes with air conditioning, according to data from the International Energy Agency, compared to 90% of American homes. Some countries in Europe have been quicker to adopt it than others. Nearly 50% of Italians now have AC in their homes, and 7% of homes in Britain are equipped with air conditioning, double the rate from just three years ago. While there is a recognition that air conditioning is desirable to fight the side effects of climate change, there is also a recognition of its negative environmental impact as well.[2]
EU Solar and Wind Growing Too Slowly – The growth in wind and solar deployment in Europe is not fast enough to achieve the EU’s 58% target by 2030, according to a report from the European Climate Neutrality Observatory (ECNO). A combination of grid bottlenecks, permitting delays and flexibility limitations is slowing the growth of solar PV and wind as a share of the European economy’s energy mix. Although on the supply side, battery storage capacity has been increasing, it remains below what the European Commission has said is needed by 2030. Meanwhile, policies at the EU and member-state levels have been piecemeal in supporting progress on renewables. As the clean technology transition accelerates, another risk identified in the report is the EU’s growing dependency on China for critical raw materials, battery components, solar inverters and “other key manufacturing inputs”. These overlapping dependencies highlight a structural challenge: Europe’s long-term economic resilience and competitiveness depend on reducing fossil fuel imports, diversifying key supply chains and accelerating the transition to a climate-neutral economy. But the path to get there is not clear.[3]
Morocco: Europe’s Nearshoring Hub – Morocco has moved from a low-cost option to Europe’s nearshoring hub of choice. The port handles millions of containers a year just 14 km from Europe; spurred by an automotive cluster around Renault and Stellantis and a generous tax regime. The Tanger Med port complex processed over 9 million TEUs in recent years, establishing itself as the largest port in Africa and the Mediterranean. This infrastructure is not merely a transit point for global trade but the logistical backbone of a strategic industrial shift. European manufacturers are increasingly moving production lines to Morocco to mitigate supply chain risks associated with distant suppliers, creating a tangible nearshoring corridor that connects North Africa to Europe in less than 24 hours by sea. The decision to relocate is no longer theoretical; it is a calculated response to geopolitical instability and the urgent need for a decarbonised supply chain.[4]
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For years Europe has faced sluggish economic growth. High public debt, ageing populations, weak productivity, lingering energy costs and persistent geopolitical uncertainty have kept growth in check. As identified in the Making Europe Great Again Index, there are pockets of economic strength in certain sectors: Defence, Infrastructure, Energy, and Nearshoring. In a conflict-ridden world where the U.S. is reluctant to act as the world’s policeman, European governments have compelling reasons to ramp up their defence spending. But that doesn’t mean military investment is the optimal route to achieving economic growth – and it could be a barrier if it crowds out more productive economic investments. Boosting growth effectively requires investing in areas that offer a positive growth multiplier – meaning every pound, dollar or euro spent adds more than that to the economy. OECD research suggests a defence splurge can boost growth in the short term, particularly if there is a large domestic military sector poised to benefit. But it also notes that the economic multiplier is typically only a modest 0.6 to 1.0. So investing in other areas of the economy are important too, such as Infrastructure, Supply Chain and Energy. Infrastructure, energy and supply chain security are also critical to national security. The net-zero economy has also become a significant driver of growth, with every £1 of value generated creating an additional £1.89 for the wider economy. These are the economic drivers making Europe great again.[5] [6]
[1] https://www.reuters.com/world/nato-unveil-big-arms-deals-ankara-before-summit-with-trump-2026-07-07/
[2] https://time.com/article/2026/06/25/europe-heat-wave-infrastructure-air-conditioning/
[3] https://www.pv-tech.org/eu-solar-wind-growing-too-slowly-2030-target-report-ecno/
[4] https://blog.gettransport.com/trends-in-logistic/morocco-nearshoring-hub-tanger-med-2026/
[5] https://www.reuters.com/commentary/reuters-open-interest/european-growth-could-be-casualty-increased-defence-spending-2026-07-08/
[6] Source: VettaFi
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