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McKinsey Insights & Publications

2024-02-15 00:00:00

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Summary

In a compendium addressing the new defense and security environment in Europe, the author highlights the need to balance the competing priorities of defense spending with other key investments like education, technology, healthcare, and the climate change transition. The article emphasizes the importance of adapting to a new defense and security reality, including the need to effectively allocate funding to address evolving defense priorities such as attracting and retaining talent, achieving scale and pace, and fostering innovation within the defense industry.

Key Themes

Attract and retain talent: The defense industry in Europe faces demographic challenges and needs new approaches to attract and retain a skilled workforce.

Achieve scale and pace: Due to fragmentation and insufficient production capacity, the European defense industry needs to focus on achieving greater scale and velocity for defense equipment production.

Innovate: There is a growing need for new technological capabilities in defense, and incentives for innovation are crucial to the future of European security.

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