It isn’t surprising that more and more space companies are pivoting to defense. Defense budgets are rising across the board, and rising quickly. In fact, the sum of money set to be available is eye-watering. Now that NATO has pledged to spend 5% of GDP by 2035, McKinsey thinks that annual defense spending across the European NATO member states could reach €800 billion ($928 billion) in the next five years. If we add the non-European NATO countries, we are looking at total spending of €3.6 trillion in 2035. But how should space companies see this shift? And how should investors respond?
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