About 43% of mechanical engineering companies expect to double defense revenue by 2030 — TimesLIVE – UA.NEWS

About 43% of mechanical engineering companies expect to double defense revenue by 2030 — TimesLIVE  UA.NEWS

About 43% of mechanical engineering companies active in security and defense expect to at least double related revenue by 2030, according to VDMA. European defense spending is opening up a fast-growing market for mechanical engineering companies and industrial equipment manufacturers that supply products to the defense industry. This is reported by TimesLIVE, citing the German Mechanical Engineering Industry Association (VDMA). According to VDMA, about 43% of mechanical engineering companies already operating in the security and defense sectors expect to at least double their revenue related to these areas by 2030. Another 46% of respondents expect moderate growth. Nearly one in three companies active in the defense sector forecasts growth in this segment of at least 15% this year.

VDMA represents 3,500 companies in Germany and Europe. More current news is available on the UA.News Telegram channel Telegram. 92% of mechanical engineering companies active in the sector see an opportunity to expand supplies over the next 12 months. At the same time, companies cited regulatory requirements, lengthy procurement procedures, and weak customer contacts as obstacles to growth. VDMA Deputy Executive Director Hartmut Rauen said that the association would support companies in finding partners and developing the market.