European Union Defence Procurement
European defence procurement refers to the collective armaments purchasing policies of European nations.
Traditionally European countries have either developed their own weapon systems or bought 'off the shelf' systems usually NATO-sponsored from the United States or from the Soviet Union, now from Russia. In the modern era, reduced military budgets and increasing complexity make it difficult for most countries to develop their own weapon systems. Furthermore, identical projects in differing countries were recognised as a waste of resources. However the same countries often do not wish to purchase American systems because of the perception of a loss of sovereignty and the profits (and jobs) going to American companies.
Therefore some European nations are attempting to pool their resources to create multinational programmes to create a more independent and competitive capability. The European Defence Agency was established in 2004 to create such a stronger European market for military equipment.
Read more about European Union Defence Procurement: History, Industry, Products, Code of Conduct On Defence Procurement
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