Abstract
Europe’s defence industry has evolved by transforming itself from a collection of nationally oriented firms to one dominated by two giants. Stimuli external and internal to the European Union (EU) are responsible for this development. After describing the evolution of this sector since the end of the Cold War, the authors present four factors that played key roles: developments within the United States’ defence industry; the impact of technology and defence economics; general economic restructuring within the EU together with nascent defence industrial policy; and progress towards the creation of a European Security and Defence Policy. While the evolution required all four factors, the EU played a critical and under–appreciated economic and political role in the changes that have transformed the European defence industry, and is now positioned to continue to shape this process.
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