国防技术和网络安全软件行业洞察2026年第二季度

EuropeanSecureTech Q2 2026 Defense TechnologyandCyber Security SoftwareMARKET INTELLIGENCE www.drakestar.com CONTENTS-WHAT WE COVER IN THIS REPORT COMPREHENSIVE ANALYSIS OF DEFENSE TECHNOLOGY ANDCYBER SECURITY SOFTWAREACROSS MARKET TRENDS, VALUATION,FINANCINGANDM&A ACTIVITY INITIATING COVERAGE: EUROPEAN DEFENSE TECHNOLOGY & CYBER SECURITY SOFTWARE EUROPEAN DEFENSE TECHNOLOGY ANDCYBER SECURITY SOFTWAREHAVE STRUCTURALLY CONVERGED INTO ONE INTEGRATEDSECURITY TECHNOLOGY ECOSYSTEM RESHAPING CAPITAL ALLOCATION AND BECOMING A DURABLE INVESTMENT THEME EUROPEANSECURETECHMARKET LANDSCAPE Companiesare classified based on the role their technologyplaysinmoderndefensesystems,whilethefocusremainson (→refer to pages 35 & 36 for the full vertical taxonomy and market landscape overview) DRAKE STAR DEFENSE TECHNOLOGY EVENT RECAP DRAKE STAR BROUGHT TOGETHER LEADING DEFENSE TECH INVESTORS AND OPERATORS TO DISCUSS THE INDUSTRY’STRANSFORMATION DRAKE STAR DEFENSE TECHNOLOGY EVENT INSIGHTS (1/2) ThewarinUkraineandshiftingNATOexpectationsareexposingstructuralcapabilitygapsinEurope,acceleratingdefensespendingtoenhancereadinessandstrategicautonomy,withdefensespendingbyEuropeanNATO countries projected toincreasefrom$516bnin2025Ato$796bnin2030F,implyinga9%CAGR Europeremains dependent on U.S.systems in critical domainssuchas air defense,ISR,space and autonomous systems,with theshareofEUdefensespendingonnon-EUequipmentexpectedtodeclinefrom78%in2023Ato50%in2030Eand40%in2035Fasgovernmentsstrengthendomesticindustrialcapacity Themomentumisnotdrivenbygeopoliticsalone,withautonomoussystems,drones,AI-enabled decision support and software-defined Structuralchallenges persist due to fragmented procurementprocesses,talentshortagesandexportrestrictionsremainingcomplex,butare increasingly viewed as manageable friction rather than ThedebateisshiftingfromwhethertoinvestinDefenseTechtowardsbuildingscalableandinteroperableEuropeancapabilities DRAKE STAR DEFENSE TECHNOLOGY EVENT INSIGHTS (2/2) VENTURE-BACKED DEFENSE TECH AND DUAL-USE INNOVATION ARE SCALING THROUGH PARTNERSHIPS, DRIVING RISING FUNDINGVOLUMES AND VALUATIONS WhenweexporteddronestoUkraine,werealizedhowquicklya defense start-up falls under full regulation–fromthe War Weapons Control Act to dual-usediscussions[…] Venture-financed defense companies are scaling rapidly,using targetedacquisitionsandpartnershipstoacceleratecertificationandapprovalprocesses,expandproductportfoliosandbringexport-ready InDefense Technology,capabilities alone are notenough.Start-ups are not a silver bullet–progressdependsonpartnershipswithestablished players and JosefKranawetvoglSVP atSTARK Innovationisincreasinglyemergingoutsidethetraditionalprimecontractorecosystem,driven by autonomous systems,data-driven Ifwe want to speed up development and deploymenttimes,wehavetostarttolearnthat95%solutionscan MuchofthisinnovationoriginatesfromDefenseTechnologyanddual-usedeeptechcompanies,introducingspeed,productfocusand GermanyhasthetalenttoleadinDefenseTechnology.Andwecanlearn.Therapidsoftwarecyclesondronesbuildengineering capabilities that benefit the widereconomy[…] JörgAstaloschCEO atIAV GmbH Theindustrial landscape is evolving toward hybrid models,combiningstart-up agility with incumbent expertise in certification, Capitalformationacrossthesectorhasacceleratedsignificantly,withrisingventureandgrowthfundingvolumesandincreasingstrategicandprivateequityinterest.Germany’sshareoftotalEUdefensetech Fromacapitalmarketsperspective,DefenseTechnologyhasestablisheditselfasadistincttechnologysegmentWeobserve growing interest from both strategicacquirersandprivateequityinvestors[…] Asthe market matures,valuation levels have adjustedaccordinglyandM&Aisincreasinglyusedtoacquire Ralf Philipp HofmannManaging Partner at INDUSTRY Q&A WITH HENDRIK KRAMER, VICE PRESIDENT LAND DOMAIN ATQUANTUM SYSTEMS INTEGRATING AIR AND LAND: EUROPE'S PATH TO AUTONOMOUS DEFENSE LEADERSHIP What was the strategic rationale behind Fernride’s combination with QuantumSystems, and how do remotely operated ground vehicles and drone systems create The future of defence is multi-domain. The combination brings together autonomy acrossair and land into one operational stack. Modern defence and logistics require integratedsystems. Drones provide real-time situational awareness, while ground vehicles executeresilient, autonomous operations. The synergy lies in closing the loop: sensing, decision- Hendrik KramerisCo-Founder and was CEOofFERNRIDE,whichoffersan industry-provensoftware platform for ground autonomy in theareas of container terminals,defencelogistics,yard operations and autonomous driving.Quantum Systems, Europe’s market leader in AI- You have spoken about Europe's urgent need for sovereign autonomy solutions.How significant is the gap between Europe and other regionsand what would it take Traditionally, Europe was dependent on technology from the US and reliedto a largeextenton a supply chain from China. The gap is mate