Strategy
Strategy
Interview with the Chairman and Chief Executive Officer
March 2024
Éric Trappier
Chairman and Chief Executive Officer of Dassault Aviation
How would you describe the current climate in which your company is operating?
Russia’s invasion of Ukraine and the ongoing war in the Middle East underscore the fact that we are once again entering an era of turbulence and that the short-lived phase of peaceful globalization is behind us.
The consequences of this shift are being felt first and foremost by civilian populations in the effected regions.
Secondly, there are strategic implications, prompting the European Union to finally come to terms with its shortcomings in the area of defense; France, in particular, has decided to increase its military spending by 40% over the period 2024-2030.
The repercussions are also economic, as demonstrated by recent issues relating to energy, raw materials and inflation, which have had a direct impact on us and on a supply chain which had already been compromised by the Covid crisis; on a macroeconomic level, Europe, which is currently going through a quasi-recession, has been particularly hard hit by these developments.
In addition, the world today is beset by anxieties and challenges associated with climate change. Every aspect of human activity is being viewed through this lens. The aviation industry is no exception, and rightly so, even though its CO2 emissions account for only around 2% of total human emissions. Our industry is committed to achieving “net zero” emissions by 2050, and is focusing on technological innovation to meet this target, in keeping with its long history of achievement in this regard. However, the assessment criteria need to be scientific and not ideological, as is sometimes the case when it comes to business aviation. In this respect, the EU taxonomy of economic activities that are environmentally sustainable is misguided, which is why we have called for it to be amended. The European Union is too often in the business of imposing restrictions and taxes, whereas the United States tends to favor incentives and greater streamlining.
A host of questions are being raised. And many of these questions are going to be answered in 2024, with major elections scheduled in Europe and the United States, as well as in India.