On April 22, the European Commission (EC) announced planned amendments to EU funding regulations. These changes aim to bolster coordinated investment in European defense technology.
The EU seeks to strengthen its defense Readiness 2030 and implement the ReArm Europe plan. The amendments broaden the Strategic Technologies for Europe Platform (STEP) to include defense technologies.
The European Defence Fund (EDF), with a budget of nearly €7.3 billion for 2021-2027, may finance STEP programs. The UK is also nearing a defense partnership with the EU, potentially allowing greater investment in European defense programs.