{"id":8895,"date":"2025-07-17T13:27:16","date_gmt":"2025-07-17T13:27:16","guid":{"rendered":"https:\/\/ecodef-ihedn.fr\/?p=8895"},"modified":"2025-11-06T16:49:29","modified_gmt":"2025-11-06T16:49:29","slug":"financer-la-defense-article-julien-malizard-frs","status":"publish","type":"post","link":"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/","title":{"rendered":"Financing defence: publication of an article by Julien Malizard in D\u00e9fense &amp; Industries, FRS magazine"},"content":{"rendered":"<p><a href=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8553\" src=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries.jpg\" alt=\"\" width=\"600\" height=\"367\" srcset=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries.jpg 600w, https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries-300x184.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<h3 style=\"text-align: center;\">Julien Malizard publishes the article <a href=\"https:\/\/frstrategie.org\/sites\/default\/files\/documents\/publications\/defense-et-industries\/2025\/Revue_DI_N21_juillet2025.pdf\" target=\"_blank\" rel=\"noopener\"><strong>\u00abFinancing defence: new mechanisms to overcome budgetary constraints?\u00bb<\/strong><\/a>, in issue 21 of <em>Defence &amp; Industry<\/em>, Journal of the Foundation for Strategic Research (FRS)<\/h3>\n<p>On 20 March 2025, leaders from the financial sector and the defence industry met at Bercy. The meeting confirmed the importance of the issues involved in financing the defence sector, both for these players and for public decision-makers.<\/p>\n<p>The issue of funding for the defence sector is a special one. It is a sovereign sector, in which the State is the sole purchaser. This obviously constrains \u00abdefence demand\u00bb. Supply is therefore dependent on the public authorities, in a market known as the \u00abdefence market\".\u00ab\u00a0<em>demand pull<\/em>\u00ab . However, some technologies are dual-use. The use of civilian technologies, particularly in the digital field, is increasingly important, and the internationalisation of the activities of defence companies is blurring the boundaries of this industry2. So, in addition to public funding for orders, private funding, whatever its origin, is essential to support the financing of innovation and production facilities. Finally, the European dimension is becoming increasingly important, with the emergence of the European Commission as a major player through the <em>ReArm Europe<\/em>.<\/p>\n<p>The current period is atypical in that it is the first time since the end of the Cold War that the level of demand is substantially higher than in the past. The question of financing therefore has three dimensions:<\/p>\n<ul>\n<li>National public funding, and therefore changes in defence spending over the next few years.<\/li>\n<li>The European scale, given the potential for economies of scale, but also the emergence of new resources implemented by the European Commission.<\/li>\n<li>Private funding, to support the defence industry as it ramps up to meet additional demand.<\/li>\n<\/ul>\n<p>The purpose of this article is therefore to discuss these three complementary points, which are designed to enable European countries to transform their defence capabilities in the long term, given the current strategic upheavals.<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/frstrategie.org\/sites\/default\/files\/documents\/publications\/defense-et-industries\/2025\/Revue_DI_N21_juillet2025.pdf\" target=\"_blank\" rel=\"noopener\"><span class=\"td_btn td_btn_md td_default_btn\">read the article<\/span><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Julien Malizard publie l&rsquo;article \u00ab\u00a0Financer la d\u00e9fense : d\u00e9passer les contraintes budg\u00e9taires par de nouveaux m\u00e9canismes ?\u00a0\u00bb, dans le num\u00e9ro 21 de D\u00e9fense &amp; Industries, revue de la Fondation pour la recherche strat\u00e9gique (FRS) Le 20 mars 2025, des responsables du secteur financier et de l\u2019industrie de d\u00e9fense se sont r\u00e9unis \u00e0 Bercy. Cette rencontre [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[350,352,415],"tags":[374,809,812,813,405,178,74,141,69,113,149,86,619,810,536],"class_list":{"0":"post-8895","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-publications","8":"category-thematique-2-determinants-et-impacts-de-la-depense-de-defense","9":"category-thematique-5-integration-et-cooperation-de-defense-en-europe","10":"tag-article","11":"tag-bercy","12":"tag-contraintes-budgetaires","13":"tag-defense-industries","14":"tag-economie-de-guerre","15":"tag-europe","16":"tag-financement","17":"tag-financement-de-la-defense","18":"tag-fondation-pour-la-recherche-strategique","19":"tag-frs","20":"tag-industrie-de-defense","21":"tag-julien-malizard","22":"tag-publication","23":"tag-rearm-europe","24":"tag-ukraine"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financer la d\u00e9fense : publication d\u2019un article de Julien Malizard dans D\u00e9fense &amp; Industries, revue de la FRS - Chaire \u00c9conomie de d\u00e9fense - IHEDN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financer la d\u00e9fense : publication d\u2019un article de Julien Malizard dans D\u00e9fense &amp; Industries, revue de la FRS - Chaire \u00c9conomie de d\u00e9fense - IHEDN\" \/>\n<meta property=\"og:description\" content=\"Julien Malizard publie l&rsquo;article \u00ab\u00a0Financer la d\u00e9fense : d\u00e9passer les contraintes budg\u00e9taires par de nouveaux m\u00e9canismes ?\u00a0\u00bb, dans le num\u00e9ro 21 de D\u00e9fense &amp; Industries, revue de la Fondation pour la recherche strat\u00e9gique (FRS) Le 20 mars 2025, des responsables du secteur financier et de l\u2019industrie de d\u00e9fense se sont r\u00e9unis \u00e0 Bercy. Cette rencontre [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/\" \/>\n<meta property=\"og:site_name\" content=\"Chaire \u00c9conomie de d\u00e9fense - IHEDN\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-17T13:27:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-06T16:49:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"367\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bertrand Demandre\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Chaire_Ecodef\" \/>\n<meta name=\"twitter:site\" content=\"@Chaire_Ecodef\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bertrand Demandre\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ecodef-ihedn.fr\\\/financer-la-defense-article-julien-malizard-frs\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ecodef-ihedn.fr\\\/financer-la-defense-article-julien-malizard-frs\\\/\"},\"author\":{\"name\":\"Bertrand Demandre\",\"@id\":\"https:\\\/\\\/ecodef-ihedn.fr\\\/#\\\/schema\\\/person\\\/1cdf22d028cebe278126a6e07a884d30\"},\"headline\":\"Financer la d\u00e9fense : publication d\u2019un article de Julien Malizard dans D\u00e9fense &#038; 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