Now Comes the Hard Part: Europe’s Defense Industrial Inflection Point

Window on the World · Nov 2, 2026 · 18m

Europe has entered a new era of defense spending. But turning record budgets into lasting military capability will require more than money: it will require Europe to build the industrial capacity, supply chains, financing, and long-term demand needed to sustain rearmament for years to come.

In this episode, we examine what it will take to turn Europe’s defense spending surge into a stronger, more resilient, and globally competitive defense industrial base—and the geopolitical ramifications if it does.