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Euronews
Euronews
Alice Tidey

European defence sector's turnover surges 13.8% to €183 billion in 2024

European Union Europe Camille Grand ASD Supply chain

The turnover of European defence companies rose by 13.8% year-on-year in 2024 with direct employment in the sector also rising to its highest level ever recorded as Europe races to rearm to face a belligerent Russia, a new report highlights.

Turnover for the 4,000 companies the Aerospace, Security and Defence Industries Association of Europe (ASD) represents grew by 10.1% overall to €325.7 billion, its newly-released annual report shows.

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