ইউropa রক্ষা প্রযুক্তি sektore এ nine unicorn, up from four at the start of 2026, এবং 84 deals H1 versus 28 H1 2024. VC আগ্রহ উন্নয়ন করেছে যেহেতু Ukraj-er যুদ্ধ এবং geopolitical instability sovereign capacity গাল চালিয়ে যাচ্ছে। Ben Tickler of J. P.

Morgan note that rising defence budgets create commercial opportunities. However, startups face fragmented buyers across national militaries and a growth capital shortage versus the US. Naveed Nasar of J.

P. Morgan stresses "capital follows contracts", urging concrete procurement results from initiatives like the UK's Defence Investment Plan with £5bn for autonomous systems. European firms struggle to secure multi-year contracts across multiple defence ministries compared to US rivals selling to the Department of Defense.

Nasar advocates streamlined NATO procurement. On funding, Max Hauer of J. P.

Morgan highlights new defence funds and generalist VC interest, plus growing use of non-dilutive debt like revolving facilities and term loans for factory expansion. J. P.

Morgan's Security and Resilience initiative supports scaling companies.