Aerospace and Defence Update: NATO summit review

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Aerospace and Defence Update: NATO summit review

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Aerospace and Defence Update

NATO summit review

Industry Overview

NATO summit review: pledges convert into orders 13 July 2026

The NATO summit in Ankara on July 7th-8th provided further evidence that higher NATO Equity

spending commitments are beginning to translate into procurement. More than €50bn of Global

procurement programmes and capability initiatives were announced, spanning deep Aerospace

precision strike, integrated air and missile defence and unmanned systems. President Benjamin Heelan >>

Trump also pledged to grant Ukraine a licence to produce Patriot systems. However, Research Analyst

local production is unlikely to become meaningful for several years given technology Merrill+44 20Lynch7996 (DIFC)5723

transfer, industrialisation and export approval requirements. benjamin.heelan@bofa.com

David Holmes, CFA >>

$50bn European deep strike push highlights capability gap ResearchMLI (UK) Analyst

Twelve European nations, led by the UK, committed to spending $50bn over the next +44 20 7995 1077

david.a.holmes@bofa.com

decade on deep precision strike, targeting ranges from 300km to more than 2,000km.

Lorenzo Di Patrizi >>

Separately, six allies launched a Ground-Based Precision Strike High Visibility Project to Research Analyst

explore new launchers and missiles, with an explicit focus on affordable mass effectors. MLI (UK)

+44 20 7995 7626

We see this as an important signal that Europe is moving beyond isolated national lorenzo.dipatrizi@bofa.com

programmes towards a more coordinated long-range strike architecture. Supporting this

trend, Rheinmetall and Lockheed Martin signed an MOU to establish a joint venture for

ATACMS production in Germany, creating the first European manufacturing hub for the