Defence Investment is evolving fast, and the winners are in Ukraine.

Blain's Morning Porridge · May 20, 2026 · 15m

Blain’s Morning Porridge 20th, May 2026 - Defence Investment is evolving fast, and the winners are in Ukraine.

“The war for which Generals prepare is always the last one – especially if they won it.”

Investing in defence was a sadly neglected skillset for many years following the end of the Cold War. Defence primes became utility like seeking to preserve margins as real budgets declined on the peace-dividend. The War in Ukraine has highlighted many things, but critically that what the Primes are selling isn’t what’s going to win the next War. To invest in defence – you need insights into the…