Rising Defense Spending and Localized Production in Europe

France, the world's second-biggest arms exporter, is expected to double military spending in the next two years.

We visit a factory in the north of the country that's switched production from civilian to military equipment, as part of what French President Emmanuel Macron is calling a "war economy".

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Presented and produced by John Laurenson

(Picture: President Emmanuel Macron delivers a speech to army leaders at l'Hôtel de Brienne in Paris on July 13, 2025, on the eve of the annual Bastille Day Parade in the French capital. Credit: Getty Images)