Defence · Research theme
Global Defence Re-Armament
The new military capex cycle
The thesis
Defence is a multi-year global capex theme: missiles, drones, shipbuilding, radar, space-defence, cyber and AI-enabled warfare — across US primes and India's defence-industrial base.
Why it matters now
SIPRI reported world military expenditure reached ~$2.9 trillion in 2025, an 11th consecutive year of growth. Order books are lengthening.
Key stocks & ETFs
Thematic exposure studied within this theme — not a buy list.
Bull case
Budgets stay elevated, order books expand, and defence-electronics, missile and drone names gain operating leverage.
Bear case & risks
Valuations run ahead of execution; receivables, program delays and margin pressure disappoint.
What to watch
- ›Defence budget trends
- ›Order backlog & book-to-bill
- ›Execution / delivery delays
- ›Receivables & working capital (India)
FAQ
What is the Global Defence Re-Armament theme?
Global Defence Re-Armament is a research framework Quantifi uses to study a market theme — its core thesis, the companies exposed to it, the bull and bear case, and what would prove or break it. It is educational research, not a recommendation.
Which stocks are linked to Global Defence Re-Armament?
Names studied within this theme include LMT, RTX, NOC, GD, PLTR, AVAV. These are shown as thematic exposure for research, not as a buy list.
What are the risks of the Global Defence Re-Armament theme?
Every theme carries risk — valuations move daily, the thesis can break, and a name being central to a theme does not make it a good investment. See the bear case and "what to watch" on this page.
Is this investment advice?
No. Quantifi is research and education only — not investment advice. Quantifi does not execute trades or provide guaranteed returns. Always do your own research and consult a licensed professional.
Related research & tools
Research only. Not investment advice. Quantifi does not execute trades or provide guaranteed returns. This page studies a market theme for educational purposes; it is not a recommendation to buy, sell or hold any security.