Funding Eligibility
Source · Remaining Eligible for Britain’s Defence Market
Britain's debarment list is empty, but £40.6bn of MoD spend (45% non-competitive) is awarded below it — so under the Procurement Act 2023, where does exclusion from British defence work actually attach?
For a European defence supplier, access to British military demand can no longer be judged by asking whether a company has been convicted, sanctioned or formally barred. Britain's central debarment list — the mechanism that would carry such names — has been capable of carrying them since 24 February 2025. At 10 September 2026 it carries…
Capability
Source · Europe’s High–Low Arsenal: Programmes Without a Magazine
Twelve states pledged $50.66bn to deep strike — but against 9,000+ strike drones and missiles a month, what magazine does that buy? A programme is not a filled stockpile, and rate is the real constraint.
Twelve European states have pledged $50.66 billion to deep strike, and no public record sets the quantities it will buy. That gap — between a programme and a magazine — is the subject here. A "high-low arsenal" is only a capability if the magazine behind it is filled; a pledge to spend is not a stockpile, and the difference is exactly…
Capability
Source · From Torpedo Boats to Layered European Firepower
A ~£400,000 UK strike weapon and a ~$4m PAC-3 MSE interceptor are different rungs of one ladder — so do cheap autonomous systems let Europe buy less, or force it to buy more layers and more production rate?
The lesson Europe is taking from the drone war is usually stated backwards. Cheap autonomous systems are not letting Europe buy fewer, simpler weapons; they are forcing it to buy more layers, because each cheap threat has to be met by something and not everything can be met cheaply. The British Ministry of Defence has set a…
Capability
Source · Europe’s Missile Constraint
Can inexpensive unmanned mass substitute for Europe's expensive high-end missiles and interceptors? The scarce SAMP/T and Patriot upper layer — PAC-2 GEM-T, PAC-3 MSE — is the binding constraint mass cannot replace.
European rearmament has spent three years learning from the cheapest weapon on the battlefield and is now discovering the price of the most expensive one. Unmanned systems have become indispensable for reconnaissance, attrition, deception, saturation and, increasingly, interception, and nothing in the past year suggests that role is…
Capability
Source · Where Europe’s Upper-Air Sounding Chain Can Be Separated — and Where It Cannot
Europe can build the radiosonde — but of the four links (consumables, sondes, receivers, output messages), where is the military upper-air sounding chain actually dependent, and where could a crisis cut it?
A European army that cannot fly a weather balloon loses far more than a forecast. It loses the atmospheric profile that artillery fire-control corrections are computed from, the advice it gives to aircrew and to the operators of unmanned aircraft, and the input to any prediction of how nuclear fallout or a chemical or biological agent…
Company Relevance
Source · Space-Eyes’ Capital Is Conditional
Space-Eyes' de-SPAC fixes a $275m equity value — but after redemptions on ~$178m of trust and a $83.66m senior secured note, how much usable cash actually reaches the business?
A $275 million valuation is the number everyone will quote; it is also the number that tells you least about how much capital Space-Eyes will actually have. On 30 July 2026 McKinley Acquisition Corporation and Space-Eyes, Inc. signed a business combination agreement fixing a contractual equity value of $275,000,000 for Space-Eyes, and on…