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https://www.reuters.com/world/europe/norway-plans-56-billion-boost-defence-spending-over-12-years-2024-04-05/
With next-generation technology rolling out, the head of Rolls-Royce's operations in the Middle East, Turkey and Africa (Meta) has said the markets of Middle East will be crucial in the company's overall plan of quadrupling profits by 2027
$1.2 trillion!
bae systems plc (lse:ba.) and rolls-royce holdings plc (lse:rr.) are among defence firms likely to do well from a flurry of approvals for increased security spending last week, analysts have said.
pointing to congress’ approval of a new defence bill in the us, alongside uk government plans to bolster nuclear capabilities, deutsche bank said european firms were set to benefit.
“last week, there was a flurry of news surrounding defence spending in the western world,” the bank wrote in a note.
“each by itself may not be eye-catching, but when put together, they provide a clear picture of the direction of defence spending.
“together, they provided solid evidence of support for defence spending, which is critical for the long-term defence revenue growth thesis in europe.”
in the us, congress approved a us$1.2 trillion (ÂŁ951 million) government funding package, which included a 3% increase in defence spending.
deutsche noted this was “a big relief for cash inflow for defence companies”.
uk ministers unveiled plans to collectively invest over ÂŁ763 million in the nuclear industry, and a boon for bae, rolls-royce, bab**** and energy firm edf