Industry: 92 percent of mechanical engineers want to invest more in the defense sector - if politics clarifies one thing
Germany's military buildup is having immense effects on the civilian industry, a new survey of the mechanical engineering sector shows. However, for one reason, an arms boom is not materializing in the industry.
A survey by the German Mechanical Engineering Association (VDMA) has found that many machine builders are planning to enter or expand into the defence industry, driven by the German government's increased focus on security and defence. 23% of the 330 surveyed VDMA member companies plan to enter the defence business, while 6% have already made concrete plans.
Companies already active in the defence sector report strong growth prospects, with 92% expecting to increase their deliveries within the next 12 months, and 17% planning to hire additional staff or reassign employees from other business areas. The VDMA estimates that the defence industry's share of the machine building sector's total revenue will be around 2-3% in the medium term.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
