Dirk Hoke, CEO of Airbus‘ defense and space segment, Â has said he expects to seeÂ changes to military spending in Europe next yearÂ and anticipates “intensive” discussions among European countries about the future of NATO, Reuters reported Tuesday.
“This discussion is long overdue when you consider that only five countries in Europe meet the goal of spending 2 percent of [gross domestic product] on defense, ” Hoke told Reuters in an interview.
Jens Hack writes Toulouse, France-based Airbus forecasts NATO member countries will move to increase military expenditures after U.S. President-elect Donald TrumpÂ accused theÂ 28-member alliance of not doing enough to help combat terrorism.
Hoke also called on the government and commercial sectorsÂ to modernizeÂ weaponryÂ at a shorter interval.
A Fitch RatingsÂ report published last monthÂ forecastsÂ the worldwideÂ addressable defense market to grow between 3 percent and 5 percent over the next three years.
Earlier this month, DeloitteÂ also issued a market analysis report that predicts a 2 percent growth inÂ global aerospace and defense revenues forÂ 2017.