The Norwegian government is being pressured to lift the $1.8 trillion sovereign wealth fund’s ban on investing in the defense industry. This has been influenced by China’s and Russia’s aggressions.
The fund has so far avoided companies that produce nuclear weapons components or cluster munitions due to its ethical guidelines. The growth in returns from the defense sector and the security policy situation have sparked discussion about the fund’s policy.
More on the matter can be found via the link below.
https://www.cnbc.com/2025/04/02/norway-urged-to-let-mega-wealth-fund-take-stakes-in-weapons-makers.html
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European defense companies Leonardo, Airbus, and Thales are planning to create their own satellite network as an alternative to Starlink.
The goal is to present the project within a few months, according to the news below. The project highlights Europe’s need for independent defense technology, especially due to the war in Ukraine and the weakening trust in the United States.
The companies emphasize security and supply chain resilience instead of price competition.
https://www.cnbc.com/2025/04/03/european-defense-giants-eye-starlink-alternative-within-months.html
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Interesting that there’s no mention of Eutelsat, which already has full basic capabilities for that network and a good number of satellites already in space + the French and UK governments as significant owners. I wonder why, I’ll have to look into it deeper…?
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I looked into this a bit. If anyone has better information, they can update it.
So:
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Eutelsat is an operator providing satellite connections, not a device manufacturer like this alliance of three companies.
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Eutelsat is currently the only one that can offer an alternative connection to Starlink in Europe. This upcoming alliance of three companies will only be able to do so sometime in the early 2030s (maybe). So, at least until then, Eutelsat is important for the EU. When this second network is eventually completed and manufacturers start offering connections from it, it will be a competitor to Eutelsat. Eutelsat believes competition is okay and welcome (?)
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Leonardo, Thales, and Airbus are Eutelsat’s partners. They have manufactured satellites for Eutelsat, and it is natural that an operator is not part of such a manufacturers’ alliance.
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Eutelsat is involved as one of three operators (the most significant) in a consortium called SpaceRISE, in the EU’s Iris2 project, where these mentioned device manufacturers are only supporting, as one of many telecommunications companies. The other two Iris operators are Ses and Hispasat.
The IRIS² constellation consists of approximately 290 satellites, of which 264 will be placed in low Earth orbit (LEO) and 18 in medium Earth orbit (MEO). This multi-orbital system combines the advantages of LEO and MEO satellites, offering both broad coverage and low latency in communication. 
The total cost of the project is estimated to be around 10.6 billion euros, of which the EU will finance 6 billion euros, the European Space Agency (ESA) 550 million euros, and the private sector over 4 billion euros. Full operational readiness will be achieved by 2027.
IRIS² represents a significant step towards Europe’s digital sovereignty and secure communication infrastructure, while strengthening the EU’s position in the field of space technology.
That’s how much I found; if anyone has the inclination, they can clarify or supplement it 
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Below is an article about how European defense companies’ shares partially recovered from the sharp decline early in the week, which was related to market nervousness caused by President Trump’s new tariffs.
The impact on the defense industry is estimated to be quite small; the stocks only reacted to broader market turmoil.
Analysts see the share price drop as an opportunity, especially since defense spending is expected to grow in the EU and many European companies already have production in the United States.
- U.S. President Donald Trump appeared to double down on his aggressive trade policy after rolling out sweeping new tariffs last week, saying that “sometimes you have to take your medicine.”
- European defense stocks, which have surged in recent months amid a regional push for strategic independence, pared back losses as a sell-off in the sector eased through the trading session.
- Shares of German defense giant Thyssenkrupp fell 6.4%, Germany’s Renk Group traded 3.3% lower, while France’s Thales slipped 4%.
https://www.cnbc.com/2025/04/07/trump-tariffs-defense-stocks-fall-as-global-market-sell-off-deepens.html
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I just say that you are a natural talent for finding market tops 
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You silly butt. 
Here is again Sijoittaja.fi’s good overview of defense companies (Saab, Rheinmetall, Kongsberg, BAE Systems, and Leonardo) and more generally about the industry and the factors affecting it.
The defense industry has come into focus after Donald Trump won the 2024 US presidential election and Republicans control Congress. Based on Trump’s previous statements and “America First” policy, Europe is expected to invest more in its own defense, which has caused the shares of European defense companies to skyrocket. Signs of Europe’s rearmament have already been seen: in mid-March, Germany announced an investment of over 400 billion in defense, and most recently, Sweden announced an investment of over 300 billion kronor.
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The article below explains how the shares of European and Asian defense companies have risen significantly this year. The reason is seen as a decrease in trust in the United States as an ally, especially due to Trump’s policies.
Many countries have increased their defense spending and are now favoring European or Asian arms manufacturers. Demand is estimated to continue for up to 10 years.
"Key Points
- The Trump administration’s rattling of long-held global alliances is causing European countries to announce increased defense spending.
- European and Asian defense stocks have been outperforming their U.S. counterparts, as Europe turns to its own manufacturers, as well as those based in Asia.
- This elevated defense demand could last for at least 10 years, experts tell CNBC."
https://www.cnbc.com/2025/04/08/lack-of-trust-in-the-us-boosts-european-and-asian-defense-stocks.html
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Patria’s Annual Report 2024 has been published today
Talouskatsaus 2024
Patria-konsernin liikevoitto oli 81,8 miljoonaa euroa (68,9 miljoonaa euroa) ja liikevaihto oli 825,7 (733,8 miljoonaa euroa) miljoonaa euroa.
Saatujen uusien tilausten arvo oli 1 258,2 miljoonaa euroa (948,4 miljoonaa euroa).
Omavaraisuusaste oli 33,9 % (40,0 %) ja nettovelkaantumisaste 104,3 % (67,5 %).
Omavaraisuusasteeseen ja nettovelkaantumisasteeseen vaikuttivat investoinnit tuotantokapasiteettiin sekä tuotannon kasvattamiseen sitoutunut nettokäyttöpääoma.
Patria jatkoi kasvuaan vuonna 2024. Patrian liikevaihto kasvoi ja tilauskanta vahvistui erityisesti ajoneuvohankkeiden vetämänä. Kannattavuus oli odotetulla tasolla.
Keskeinen osa liiketoiminnan kehityksestä liittyi uusien ajoneuvotilausten tuotantokapasiteetin rakentamiseen sekä sisäisen toimintamallin kehittämiseen ja tehostamiseen. Tuotannon kasvuun vaikuttivat yksittäiset ylösajovaiheen häiriöt vuoden aikana, mutta tuotannon tehokkuus parani vuoden loppua kohti.
Millog ja Nammo suoriutuivat odotusten mukaisesti.
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I wish I could directly support and own this guaranteed Finnish quality delicacy 
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Positive outlook from Ceotronics. Possibly the only defense company that trades below next fiscal year’s P/E 10.
https://x.com/R2Discovery/status/1909599351871058036
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Strategic partnership news between Patria and Rheinmetall for the Hungarian ZRINYI programme 
Patria has signed a supply agreement with Rheinmetall’s subsidiaries for the delivery of Patria NEMO mortar systems
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Now it has really taken off. Yesterday +16%, today already up +20%
Luckily, I got in with a relatively large stake. There is still certainly room for growth in the current world situation, and possible hype on top of that, so all I can do is hang on for the ride.
I don’t remember who first advertised Ceotronics here, but thanks to the forum members.
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Rheinmetall aqcuires ammunition detection and recovery company Stascheit GmbH
Comprehensive product portfolio in the field of explosive ordnance disposal
Core business activities: detection, analysis, recovery and disposal of explosive ordnances
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Here is Pentti Jokinen’s interesting article, which will surely interest the readers of this thread. 
Lately, for the first time, I’ve had a strong feeling that the theme might be overheated and pricing so tight that questions of a speculative bubble arise. The hottest stocks have more than tenfold from pre-2022 prices. On the other hand, fundamentally, the situation has constantly developed in a positive direction for the defense industry. Most recently, the United States’ “strategic” withdrawal from Europe, which requires enormous efforts from Europe to compensate for.
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Lockheed Martin’s first quarter results exceeded expectations for both adjusted EPS and revenue.
The company’s full-year guidance remained unchanged. Among the business segments, missiles and fire control systems, as well as helicopters and “mission systems,” grew significantly, while revenue from the space sector slightly decreased.
The company’s order backlog remains strong.
https://x.com/Earnings_Time/status/1914645725637394460
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Yep! The company also raised its dividend by 4.8% earlier this year, so consistent performance continues on that front as well. If that matters to anyone, that is.
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I own Rocket Lab because I believe space is the next big growth sector. Defense + space go hand in hand nowadays.
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