The Price of a Government Handshake
I must be perfectly clear about the reality of defence investing. Treating this as a safe bet is a fool's errand. All investments carry risk, and you might easily lose money.
Relying on state contracts is wonderfully stable right up until it isn't. A single change in geopolitical priorities or a sudden tightening of the public purse could choke off revenues completely.
When political winds shift, a seemingly bulletproof balance sheet can become utterly ossified.
Furthermore, while the aerospace giants offer a degree of anchoring, the smaller tech firms in this sector carry vicious volatility. Governments can intervene in commercial operations at a moment's notice, altering business models overnight.