Defense Industry Restructuring: Trends in European and U.S. Defense Companies |
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Authors: | Erik Kopač |
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Affiliation: | (1) Defense Research Center, University of Ljubljana, Ljubljana, Slovenia |
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Abstract: | The national defense industries have recognized that world circumstances have changed and consequently some radical changes are also required in their own structures. Increased concentration of defense production indicates that the central defense-industrial policy dilemma between the benefits of economies of scale and the benefits of competition has gradually been resolved in favor of scale economies. This article analyses the restructuring underway from a political-business perspective. It compares the different forms of corporate linkage ranging from full merger and takeover via less dramatic ties associated with strategic alliances and minority shareholdings to joint ventures. In particular, it explores these approaches from the perspective of their suitability to restructuring in the politically sensitive defense industry when the process spans national boundaries. The structure of the analysis involves an assessment of the progress of the U.S. defense industry and identification of the drives for change and the underlying dynamics of this industry. This gives a platform for a parallel analysis of pressures and changes among the European defense industry, leading to an analysis of how U.S. and European companies are placed regarding the industrial trends towards globalization. |
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Keywords: | globalization defense industry defense industry restructuring change drivers in defense industry forms of corporate alliance |
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