France Defence & Security 2019
France possesses one of Europe's most powerful armies and has one of the continent's leading defence sectors.Defence spending has become an area of renewed focus under the presidency of Emmanuel Macron, with a pledge in 2018 to raisedefence spending to the NATO target of 2.0% of GDP. Areas of particular attention include new hardware acquisitions and thebolstering of France's cyber capabilities. Owing to slowing economic growth, we believe that the 2.0% target is on the optimisticside. Continued support from the French government and attempts to improve processes and sector performance bolster thesector. Exports are historically strong and have improved over the last year, with a large number of purchases from the Middle East.France has a number of military deployments across Africa, the Middle East and Europe which necessitate high levels of defencespending. After numerous years of relative neglect, France is once again putting a greater focus on its military capabilities, in partdue to increased geopolitical uncertainty as well as constant domestic threats from both Islamic terrorism and the emergence ofwidespread protest movements on the streets of France.
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