White & Case partner Angus Nunn was interviewed on CNBC's Squawk Box about White & Case's new Defense Technology Sector Report.
Running through the key findings of the report, Angus said: "The main takeaway is that it's looking much more like a technology growth industry than a traditional defense industry at the moment, and there's a lot of cause for optimism about the UK defense sector.
"Almost every respondent said the UK was the leading destination for defense tech investment in Europe. There's a resilience theme as well, with more and more companies looking to increase their reliance on UK and European supply chains. Ninety per cent of respondents said they intend to do that over the next 12 months.
"One hundred per cent of companies say they are raising significant capital in the next 12 months, and, as you say, over 90% are going to invest more than £50 million in the UK defense industry over the next year, with 27% investing more than £100 million.
"That's really good news for the British economy. Where that money is going is quite interesting. By and large, the main priorities are new and novel technologies. So we're talking about digital and cyber technologies, advanced sensors, space technology and drone technology. That reflects the changing nature of modern warfare post-Ukraine."
Drawing from a survey of 250 senior decision-makers working across the UK defense and military sectors, the Defense Technology Sector Report looks at investment plans and drivers, capital allocation and investment priorities, corporate growth strategies and exit plans, funding and capital requirements and supply chains.
The CNBC interview can be viewed here.
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