The money has arrived. Between January 2025 and June 2026, the FTSE 350 Aerospace & Defence Index rose more than 85%; venture funding into European defense startups reached €7.4 billion ($8.4 billion) in 2025; and the European Union’s €150 billion SAFE loan program now ties major contracts to building at scale, fast, with most components sourced inside the bloc. Europe does not have an idea problem. Its challenge is turning ideas into mass-produced capability, and the joint ventures (JVs) meant