Alistair McDonald

Indeed, Western military tech companies are literally desperate to give their products away to frontline units and then be able to say, of course, they've been tested on the battlefield.

The key tech being watched closely from around the world is obviously drone warfare, but that's in the air, land, and sea.

Electronic warfare, by which, of course, I mean things like signals jamming and spoofing.

And air defense.

And clearly what Ukraine has shown from the start is the need for cheap mass produced drones.

So it used to be that militaries had precision and expensive missiles and mass and cheaper artillery.

What drones have joined is to give both precision and mass.

And where you have cheap ways of attack, of course, you need cheap ways to defend rather than using a Pac-3 missile to bring down a drone.

You want something a lot cheaper, which the Ukrainians have been quite good at perfecting.

Yeah, that's right.

I mean, Europe spent $560 billion this year, which is an immense amount given how far it had fallen from the peak of the Cold War.

In terms of predictions, you guys were talking about AI there.

I mean, I think that will continue to be developed.

For instance, in Ukraine, they use AI for missiles and drones, so it's not susceptible to jamming.

And I think for the Europeans, what they will very much need is better intelligence, basically.

That's something that they fail massively on, that they're relying on the US.

So more satellites out there and more aeroplanes.

And then also long range missiles.

This is something that Europe is not very good at.

So they'll need that.