Shareholder nationality among the major European and American defense contractors: an exploratory data analysis

Abstract

This article presents the first results of a statistical analysis of the ownership links between the major European and American defence contractors. This approach, centred on the shareholders and subsidiaries of these companies, enables us to explore the depth of the national links (company and country of origin) and the density of the ownership cooperation that exists within Europe, as well as with the rest of the world, particularly the United States. Information about defence contractors’ ownership links is difficult to obtain and precautions must be taken in the interpretation of the results. In terms of defence contractor shareholders, it would appear first that the national link is strong for Sweden, Spain and France, less so for Germany and Italy, and particularly weak for the United Kingdom. Next, in European terms the links are concentrated on Airbus, MBDA and KNDS and are little developed in other companies. Finally, we observe asymmetrical links with the USA and a significant presence of American investment funds.