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Impact of presidential election on defence spending

carol massar and cory johnson | bloomberg advantage radio | 2 june 2016 

PA’s Tom Mullen, defence expert, shares insights with Bloomberg Advantage Radio on the impact of the upcoming Presidential election on defence spending and the industry overall.

Commenting on this trend, Tom states: Let’s fasten our seat belts. The campaign season is very different than the realty of governing so I would encourage from a financial perspective to tune out the noise a little bit on some of the big bold statements we will hear on the campaign front and really be looking a bit further out at some of the fundamentals that are driving the sector.”

Tom continues: There’s a limit on how much any President can accomplish. We still have the three arms of government that all need to work together and Congress in particular has quite a strong voice on defence spending.

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Tom goes on to say: If you look at defence, one of the fundamentals that is needed is going to be more creativity and innovation because from the budget perspective, as a nation, we are going to be quite stretched for a while but as we’ve seen, the threats we face, they are not going away.

Tom concludes: From an investor perspective, I would really be looking under the covers at innovation. For example, Airbus has one of the more radical approaches I have seen where they have funded start-ups to compete and reinvent various products that Airbus has. So, a very creative strategy and this is the kind of thing that would allow them to be presenting much more innovative and value for money offerings. So tune out the noise in the campaign but look now at who’s innovating, who’s really leading on that, and who’s trying to ride things out now. The ride might be okay for a bit but it’s going to have a bumpy end and innovation is going to be the answer.

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