Investment Themes

The Arms Industry

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Investment Themes

In a world marked by détente since the demise of the Soviet Union and the end of the Cold War, military spending has often been considered an adjustment variable in Western government budgets. SIPRI data shows that it has fallen on average as a percentage of GDP from over 4% over the period 1960 / 1986 to... 2.15% in 2018. However, the remilitarization of some regions has already contributed to bringing this percentage up from its low point. The return of international tensions, for example between China and the United States or Russia and the rest of Europe, marks a new turn in military spending.

The nationalist awakening of the former great empires - we are referring here to Russia and China - has been accompanied by substantial investments by these countries. In 2020, Russia devoted 4.3% of its GDP to military spending. China only 1.7%, but on a much larger GDP basis. Among the "Western" nations, only the United States (3.7%) and Israel (5.6%) are in the same situation. While relative spending declined until 2018, real spending in current dollars only increased, as the rapid growth in wealth over the past fifty years has made each point of GDP more valuable. Military spending was $700 billion in 1991 when the Soviet Union fell. Last year, it amounted to $1,929 billion. The thematic list below aims to capture the returns of publicly traded companies in the arms industry and defense at large.

Our selection

Industrials
Other Shipbuilding
5.35B +101.73%
Technology
Other IT Services & Consulting
6.93B +94.26%
Industrials
Other Aerospace & Defense
27.26B +106.55%
Industrials
Other Aircraft Parts Manufacturing
17.59B +34.05%
Technology
Other Software
324B +84.87%
Industrials
Aerospace & Defense Electronics
16.81B +102.90%
Industrials
Other Aerospace & Defense
34.25B +51.64%
Industrials
Other Aerospace & Defense
34.44B +43.63%
Industrials
Commercial Aircraft Manufacturing
27.5B +54.26%
Industrials
Other Aerospace & Defense
99.88B +55.93%
Industrials
Other Aerospace & Defense
38.4B +20.34%
Industrials
Aerospace & Defense Electronics
930M +58.01%
Industrials
Other Aerospace & Defense
32.27B +181.47%
Industrials
Aerospace & Defense Electronics
1.56B +21.96%
Technology
Other IT Services & Consulting
19.11B +4.38%
Industrials
Other Aerospace & Defense
7.15B +110.19%
Industrials
Other Heavy Machinery & Vehicles
4.78B +62.47%
Industrials
Other Aerospace & Defense
31.26B +75.47%
Industrials
Other Aerospace & Defense
14.15B +44.81%
Technology
Other Electronic Equipment & Parts
3.61B +29.01%
Industrials
Other Aircraft Parts Manufacturing
38.28B +33.87%
Industrials
Other Aircraft Parts Manufacturing
69.97B +59.43%
Industrials
Commercial Aircraft Manufacturing
152B +7.90%
Industrials
Other Aerospace & Defense
2.62B +121.82%
- - 8.01B -
Industrials
Other Aircraft Parts Manufacturing
23.15B +15.50%
Industrials
Other Aerospace & Defense
92.27B +183.11%
Technology
Other IT Services & Consulting
4.86B -6.99%
Industrials
Other Aerospace & Defense
19.12B +69.96%
Industrials
Other Aircraft Parts Manufacturing
125B +22.11%
Industrials
Other Aerospace & Defense
2.01B +38.16%
Technology
Other IT Services & Consulting
9.97B +13.06%
Industrials
Other Aerospace & Defense
76.53B +63.69%
Technology
Other IT Services & Consulting
6.35B -17.37%
Industrials
Other Aerospace & Defense
2.07B +68.95%
Industrials
Other Aerospace & Defense
722M +25.58%
Industrials
Arms & Ammunitions Manufacturing
1.9B +8.37%
Industrials
Industrial Machinery
1.72B +414.40%
Industrials
Commercial Aircraft Manufacturing
110B -3.02%
Industrials
Other Business Support Services
2.7B +30.67%
Industrials
Other Aircraft Parts Manufacturing
675M +61.15%
Industrials
Other Aircraft Parts Manufacturing
971M +9.02%
Industrials
Other Aerospace & Defense
74.71B +6.66%
Technology
Other IT Services & Consulting
4.62B +18.83%
Industrials
Other Aerospace & Defense
1.4B -1.67%
Industrials
Other Aerospace & Defense
5.51B -9.60%
Industrials
Aerospace & Defense Electronics
7.16B -28.10%
Technology
Other IT Services & Consulting
12.42B -22.02%
Industrials
Other Aerospace & Defense
71.63B +5.97%
Industrials
Other Aircraft Parts Manufacturing
81.02B +15.08%
Industrials
Other Aerospace & Defense
1.74B +50.91%
Industrials
Other Aerospace & Defense
60.51B +30.64%
Industrials
Satellite Design & Manufacture
59.03B +77.86%
Industrials
Other Aerospace & Defense
13B +27.32%
Industrials
Other Aerospace & Defense
6.75B +73.04%
Industrials
Other Aircraft Parts Manufacturing
1.68B +60.27%
Industrials
Other Aerospace & Defense
9.2B +25.03%
Industrials
Commercial Aircraft Manufacturing
13.9B +0.84%
Basic Materials
Other Steel
6.39B +127.24%
Industrials
Other Aircraft Parts Manufacturing
1.9B +0.48%
Industrials
Other Aerospace & Defense
196B +25.51%
Industrials
Other Aerospace & Defense
2.39B +11.34%
Industrials
Satellite Design & Manufacture
12.59B +168.26%
Industrials
Other Aerospace & Defense
4.37B -12.92%
Industrials
Other Aerospace & Defense
3.03B +23.81%
Industrials
Other Aerospace & Defense
46.67B +19.13%
Technology
Other Semiconductors
1.21B -17.56%
Industrials
Other Aerospace & Defense
3.65B +18.01%
Industrials
Other Aerospace & Defense
8.62B +24.16%
Industrials
Other Aerospace & Defense
6.61B +63.31%
Industrials
Military Aircraft Manufacturing
20.37B +4.57%
Industrials
Other Aircraft Parts Manufacturing
4.35B +8.42%
Industrials
Other Aircraft Parts Manufacturing
829M +32.45%
Industrials
Other Aerospace & Defense
19.76B +60.05%
Industrials
Commercial Aircraft Manufacturing
150B +13.54%

News of the components

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Heatmap

Calendar of the components

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Sector allocation

Ratings chart - Surperformance

Ratings ESG MSCI