WESTERN EUROPE
Armaments are once again a big and growing business in Western Europe. The defense budgets of the major NATO powers have increased by about 45% since 1959, but few nations maintain defense establishments large enough to match their ability to produce arms. Result: A fiercely competitive battle for contracts, and the possibility of financial disaster for a company if its new plane or tank fails to win enough customers.
Tank Trouble. The arms makers sell chiefly to their own governments, but most of them also vie with each other for NATO contracts and for sales to nations—such as Greece, Portugal...
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