Airbus CEO: EU Military Equipment Spending Is Just 20% Of That In The US

According to Airbus CEO Guillaume Faury, the US is spending five times more on military equipment acquisition than European defense. Of that sum, the Europeans are spending around two-thirds outside of Europe – mostly in the US but also in other countries like South Korea. While the Europeans produce Rafale, Typhoon, and Gripen fighter jets, many opt to purchase American fifth-generation F-35s for which no European counterpart exists. Europe’s notable export industry partially helps to overcome the lack of investment but still has proven insufficient for the European defense industry to resist atrophying over the years.