Europe's Defense Investment and Innovation Challenge

With Vladimir Putin's fifth term as Russian president and Donald Trump possibly on track for a second win, Europe faces a dangerous world after 25 years of underinvesting in defense. Military spending is set to rise by $33 billion this year as the primarily soft-power region makes up for lost time. Greece, a tourist hotspot, hiked defense spend to almost 4% of the gross domestic product in 2022, symbolizing the region's shift. However, the innovation challenge for European defense looms large. Startups like Lambda Automata, initiated by a former Apple Inc. roboticist, are aiming to bring innovation to the defense sector, raising €6 million last year. Lambda's autonomous surveillance towers represent the ability of startups to 'make more with less' in a world where relatively inexpensive hardware can pose big risks to European security.