Uneven recovery looms over European defence industry
Will the European defence industry experience an uneven economic recovery from COVID? (Photo: Airbus)
Tier 1 companies in Europe have weathered the COVID storm so far, but how are governments addressing the needs of essential SMEs?
As economists debate what type of post-COVID economic recovery will emerge, it is the ‘K-shape’ that defined European business fortunes during the first year of the pandemic.
In economic jargon, this denotes an uneven recovery, as specific sectors or companies resume growth while others languish in recession and stagnation.
Major aerospace and defence companies in Europe have coped relatively well with COVID so far. The most significant divergence in FY2020 revenues came between firms that derived a higher proportion of their income from commercial aviation and those solely focused on the defence market.
Companies such as Airbus, Safran, Rolls-Royce and
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