The defense equipment manufacturing industry in Europe focuses on producing advanced technology, systems, and products aimed at national security. Companies here manufacture a range of items including weapons systems, drones, and surveillance equipment. With increasing military budgets and the need for modernization, the industry is expected to grow steadily. Innovations in artificial intelligence, cybersecurity, and sustainability are becoming focal points for manufacturers. Major events, like geopolitical tensions and technological advancements, shape the direction of this sector, driving collaboration between countries and companies for enhanced security solutions. As a result, investment opportunities abound in this evolution of defense capabilities.


This list features a mix of corporate and private equity investors actively engaged in the European defense equipment manufacturing sector. Hailing from locations such as Dublin, Paris, and London, these investors range in size, with many having over 10,000 employees. Founded between 1905 and 2021, they showcase varied deal counts for 2024, from 0 to 99 investments, reflecting their strategic interests and market engagement. The blend of corporate investors like Thales and venture firms such as Bayern Kapital indicates a measured approach to enhancing defense capabilities in an evolving market.


Top 19 Defense Equipment Manufacturing Investors in Europe


1. Accenture

  • Website: accenture.com
  • Type: Corporate
  • Headquarters: Dublin, Dublin, Ireland
  • Founded year: 2001
  • Headcount: 10001+
  • Number of deals in 2024: 51
  • LinkedIn: accenture

Accenture is a global consulting firm based in Dublin, Ireland, specializing in information technology and management consulting services. Founded in 2001, the company has grown to employ over 10,000 professionals and operates across various industries, helping businesses innovate and improve efficiency. Notably, Accenture has made significant strides in the defense sector, highlighted by its acquisition of ASM Research in 2013, which enhances its capabilities in military health services. Additionally, Accenture's strategic investment in SpiderOak, a cybersecurity firm focused on space systems, showcases its commitment to advancing technologies relevant to defense. Other acquisitions, such as BCT Solutions and Apis Group, further illustrate Accenture's broad investment strategy, which includes a focus on sectors that intersect with defense and security.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. The EIB aims to support sustainable projects across various sectors, promoting growth and job creation for both public and private organizations. Notably, the EIB has been involved in significant transactions relevant to the defense equipment manufacturing sector, such as providing €10 million in funding to Quantum-Systems GmbH, a leader in small Unmanned Aircraft Systems (sUAS), which are crucial for surveillance and mapping applications. This funding is part of the Investment Plan for Europe and highlights the EIB's role in supporting technological innovation in areas that intersect with defense. Additionally, the EIB's venture debt financing agreement with GomSpace, a company focused on nano-satellite technology, further illustrates its engagement in sectors that can have defense applications, particularly in telecommunications and surveillance.


3. Safran

  • Website: safran-group.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2005
  • Headcount: 10001+
  • Number of deals in 2024: 9
  • LinkedIn: safran

Safran is a corporate investor based in Paris, Île-De-France, France, founded in 2005. The company operates as an aerospace manufacturer and defense contractor, specializing in aircraft equipment, propulsion systems, and defense technologies. Safran serves a diverse clientele, including aircraft manufacturers and military organizations, by providing innovative solutions that enhance safety and operational efficiency in both aviation and defense sectors. In recent years, Safran has made several strategic acquisitions to bolster its position in the defense industry, including the acquisition of Optics 1 in 2009, Zodiac Aerospace in 2017 for over $9 billion, and more recently, the acquisition of Preligens in 2024. Additionally, their joint venture with MBDA to acquire a stake in CILAS further demonstrates their commitment to expanding their defense capabilities. Safran operates globally with a strong focus on sustainability and technological advancement, making them a key player in the defense equipment manufacturing landscape.


4. Thales

  • Website: thalesgroup.com
  • Type: Corporate
  • Headquarters: Meudon, Île-De-France, France
  • Founded year: 1979
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: thales

Thales Group is a technology company founded in 1979, headquartered in Meudon, Île-De-France, France. It specializes in designing, developing, and manufacturing advanced electrical systems and devices for the aerospace, defense, transportation, and security sectors. Thales serves a diverse clientele, including governments and commercial enterprises, providing solutions that enhance operational efficiency and safety. In recent years, Thales has made several strategic acquisitions to bolster its defense capabilities, including the acquisition of Thales Raytheon Systems in 2016, which focuses on defense technologies, and Cobham Aerospace Communications in 2024, enhancing its aerospace and defense communication systems. Other notable acquisitions include Omnisys Engenharia, Tampa Microwave, and InterSense, all of which contribute to Thales's robust portfolio in defense equipment manufacturing.


5. Omnes

  • Website: omnescapital.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: omnes-capital

Omnes Capital is a private equity firm based in Paris, Île-De-France, France, founded in 1999. The firm specializes in investment management across various sectors, including renewable energy and sustainable cities. Omnes emphasizes long-term partnerships to foster growth and sustainability in critical infrastructure projects. Notably, Omnes has participated in significant funding rounds for companies in the defense equipment manufacturing sector, such as Quantum Systems, which raised over $181 million in Series C funding for its AI-powered drone robotics, and Elistair, which secured around $6 million in Series B funding to enhance its offerings for national security and defense. These transactions highlight Omnes' engagement in the defense industry, complementing their broader investment strategy.


6. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, helping them grow sustainably. With a diverse portfolio and a strong international presence, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i has been involved in transactions with companies relevant to the defense sector, such as Collins Aerospace, which raised $6.7 million in a private equity round in 2005, and Pilatus Business Aircraft Ltd, which also received private equity funding in the same year. These investments indicate 3i's engagement in the aerospace and defense industries, although their overall focus spans multiple sectors.


7. Tikehau Capital


Tikehau Capital is an investment management firm based in Paris, specializing in alternative asset management. Founded in 2004, the firm offers a diverse range of services, including private debt, private equity, real assets, and capital markets strategies. Tikehau Capital serves a variety of clients, including institutional and private investors, as well as SMEs seeking tailored financing solutions to support growth and sustainability initiatives. Notably, Tikehau has been involved in several transactions that intersect with the defense equipment manufacturing sector. For example, they participated in the debt financing of Daher, a company that provides logistics and industrial services, which can include defense-related operations. They also engaged in exclusive negotiations to acquire Sabena Technics, a firm specializing in aeronautical maintenance, indicating a strategic interest in the aerospace and defense sector. Furthermore, their investment in Nexteam Group, a precision mechanics and machining company, highlights their commitment to supporting businesses that may cater to defense manufacturing needs. Overall, Tikehau Capital's investment activities reflect a significant engagement with industries relevant to defense equipment manufacturing.


8. Parkwalk Advisors


Parkwalk Advisors is a London-based venture capital investment management firm founded in 2009. They specialize in venture capital investments in university spin-outs and innovative technologies, managing various EIS funds aimed at providing capital appreciation and tax reliefs for investors. With a focus on high-growth companies in sectors such as AI, life sciences, and cleantech, Parkwalk Advisors has also made significant investments in companies with applications in defense. Notably, they have invested in Symetrica, a UK-based company specializing in radiation detection and identification technologies. Symetrica has raised multiple rounds of funding, including a Series B round in February 2023, and has plans to expand its manufacturing capabilities in the US, which further emphasizes its relevance to defense applications. Parkwalk's involvement in Symetrica highlights their interest in innovative technologies that can intersect with defense needs.


9. Airbus

  • Website: airbus.com
  • Type: Corporate
  • Headquarters: Blagnac, Occitanie, France
  • Founded year: 2003
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: airbusgroup

Airbus SE is a leading aerospace manufacturer based in Blagnac, Occitanie, France, specializing in the design and production of commercial aircraft, helicopters, defense systems, and space technology. Founded in 2003, Airbus serves a global customer base, including airlines, military organizations, and space agencies, providing innovative solutions that enhance connectivity, security, and exploration. In 2024, Airbus made notable investments in the defense sector, including the acquisition of Aerovel, which enhances their unmanned aerial system portfolio to meet increasing global demand for advanced mission capabilities. Additionally, their historical acquisition of Airbus Group Australia Pacific and involvement in various defense contracts, such as the sale of helicopters to military forces, demonstrate their commitment to advancing defense technologies. Airbus is also focused on sustainability and advancing aerospace technology, making them a multifaceted investor in both commercial and defense sectors.


10. Boundary Holding


Boundary Holding is a Luxembourg-based venture capital firm founded in 2016, specializing in deep tech investments that drive the 4th industrial revolution. They provide funding and strategic support to startups primarily in the AI and technology sectors. Notably, Boundary Holding has made several investments in companies relevant to the defense industry, including CerbAir, which raised €5.5 million to enhance its anti-drone solutions, and Defendec, which focuses on defense technologies. Other investments include Elistair and infiniDome, which, while not exclusively defense-focused, contribute to security and technological advancements in related fields. This diverse portfolio showcases Boundary Holding's commitment to supporting innovative technologies that can intersect with defense applications.


11. Baillie Gifford

  • Website: bailliegifford.com
  • Type: Private Equity
  • Headquarters: Edinburgh, Scotland, United Kingdom (UK)
  • Founded year: 1908
  • Headcount: 1001-5000
  • Number of deals in 2024: 13
  • LinkedIn: baillie-gifford

Baillie Gifford & Co is an investment management firm based in Edinburgh, Scotland, specializing in managing equity, fixed-income, and multi-asset portfolios. Founded in 1908, the firm serves professional investors, including institutions and high-net-worth individuals, by providing expert investment management and advisory services focused on long-term growth opportunities. Baillie Gifford employs a research-driven approach to deliver sustainable returns for its clients. In recent years, they have made notable investments in the defense sector, including a $1.5 billion investment in Anduril Industries, a company known for its innovative defense technologies. Additionally, they co-led a $135 million funding round for Echodyne, which develops radar systems for defense, security, and autonomous applications. These transactions highlight Baillie Gifford's commitment to investing in companies that are integral to the defense equipment manufacturing industry.


12. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has made significant strides in the defense equipment manufacturing sector through its acquisition of EIS Aircraft Group in 2015, which focuses on products and services for civil and military aviation, including cabin interiors and maintenance services. This acquisition highlights EQT's strategic interest in the defense industry. Additionally, their involvement in other sectors, such as industrial products and software, showcases their broad investment approach while still maintaining a foothold in defense-related activities.


13. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. The platform promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions within the defense sector, including funding for Advanced Blast & Ballistic Systems, which specializes in defense-related products. In 2021, Crowdcube facilitated a total of $368,626, $339,661 in 2022, and $91,103 in 2023 for Advanced Blast & Ballistic Systems through equity crowdfunding. Additionally, Crowdcube has also supported Hybrid Air Vehicles, which, while primarily focused on airship technology, has potential applications in defense. These transactions highlight Crowdcube's engagement with companies that operate within the defense equipment manufacturing industry.


14. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux is a private equity firm based in Amsterdam, Netherlands, founded in 2021. It specializes in acquiring and managing companies in transition, providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has been involved in several significant transactions, including the acquisition of Steyr Motors Betriebs GmbH from the Thales Group, which aligns with the defense equipment manufacturing sector. Additionally, Mutares has acquired Special Melted Products, enhancing its engineering and technology segment, and has also made investments in companies like Magirus, a firefighting technology provider. These transactions reflect Mutares' strategic approach to investing in diverse industries while also engaging in sectors relevant to defense and technology.


15. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping them navigate the challenges of growth and development in various sectors, including life sciences and software. Notably, Bayern Kapital has made significant investments in companies relevant to the defense equipment manufacturing industry, such as Quantum Systems, a pioneer in AI-powered drone robotics, which raised substantial funding in multiple rounds, indicating strong growth potential in defense applications. Additionally, their investment in Isar Aerospace, which raised over $69 million in a Series C round, highlights their commitment to supporting aerospace technologies that can have defense applications. These transactions illustrate Bayern Kapital's active role in fostering innovation in sectors that intersect with defense technology.


16. Innovacom

  • Website: innovacom.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1988
  • Headcount: 1-10
  • Number of deals in 2024: 10
  • LinkedIn: innovacom

Innovacom is a venture capital firm based in Paris, Île-De-France, France, founded in 1988. The firm specializes in supporting startups through investment and strategic advisory services, focusing on financing innovative projects in technology and industry. Innovacom has been involved in several funding rounds for Cailabs, a French photonics company that develops optical beam shaping products and has applications in telecommunications and industrial sectors, including defense. Notably, Innovacom participated in multiple funding rounds for Cailabs, including a Series C round in December 2022, which raised €26 million, and earlier rounds that contributed to the company's growth in laser communications and optical ground station business. This involvement highlights Innovacom's engagement in sectors that intersect with defense technologies, making it a relevant player in the defense equipment manufacturing landscape.


17. Smiths Group plc

  • Website: smiths.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1851
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: smithsgroupplc

Smiths Group plc is a London-based multinational engineering company founded in 1851, providing innovative solutions across various sectors, including energy, defense, and healthcare. The company operates through four main divisions: John Crane, Smiths Detection, Flex-Tek, and Smiths Interconnect. Notably, Smiths Detection focuses on advanced security solutions, which are critical in defense contexts. The company has made several strategic acquisitions to enhance its capabilities in the defense sector, including the acquisition of Millitech, Inc. in 2005, which specializes in millimetre wave components and radar applications, and Lorch Microwave LLC, which adds microwave filter technology to their offerings. These transactions demonstrate Smiths Group's commitment to expanding its presence in the defense equipment manufacturing industry, making it a relevant investor in this space.


18. Chemring Countermeasures


Chemring Countermeasures, part of Chemring Group PLC, is a corporate investor based in Salisbury, England, specializing in defense technology. Founded in 1905, the company focuses on advanced solutions for explosive ordnance disposal and counter-IED systems, catering primarily to armed forces and national security organizations. Chemring has been active in enhancing its capabilities through strategic acquisitions, including the purchase of Detection Systems from General Dynamics for $90 million, which specializes in IED sensor systems. This acquisition, along with others such as Chemring Energetic Devices and Roke Manor Research, demonstrates Chemring's commitment to expanding its technological expertise and product offerings in the defense sector. Their global operations emphasize high-quality manufacturing and innovation, making them a significant player in the defense equipment manufacturing industry.


19. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited, commonly known as LDC, is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. Notably, LDC has made significant investments in the defense equipment manufacturing sector, including the acquisition of MB Aerospace in 2007, which provides aerospace engineering services to defense and commercial markets. In 2013, LDC acquired Angus Fire, a company that manufactures firefighting equipment, including products used in defense applications. Additionally, LDC's acquisition of Eley Group in 2014, a producer of high-quality rimfire ammunition, further emphasizes their involvement in the defense sector. LDC also invested in ELE Advanced Technologies and Precision Micro, which, while not exclusively defense-focused, contribute to the broader industrial landscape that supports defense manufacturing. Through these transactions, LDC demonstrates its commitment to fostering growth in companies that play a role in defense capabilities.



Defense Equipment Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
AccentureDublin, Dublin, Ireland10001+200151
European Investment Bank (EIB)Luxembourg1001-5000195899
SafranParis, Île-De-France, France10001+20059
ThalesMeudon, Île-De-France, France10001+19795
OmnesParis, Île-De-France, France51-20019998
3i Group plcLondon, England, United Kingdom (UK)201-50019453
Tikehau CapitalParis, Île-De-France, France501-100020046
Parkwalk AdvisorsLondon, England, United Kingdom (UK)11-50200917
AirbusBlagnac, Occitanie, France10001+20036
Boundary HoldingLuxembourg11-5020160
Baillie GiffordEdinburgh, Scotland, United Kingdom (UK)1001-5000190813
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
Bayern KapitalLandshut, Bavaria, Germany11-50199527
InnovacomParis, Île-De-France, France1-10198810
Smiths Group plcLondon, England, United Kingdom (UK)10001+18512
Chemring CountermeasuresSalisbury, England, United Kingdom (UK)201-50019050
LdcLondon, England, United Kingdom (UK)51-200198115


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