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London’s Defence Systems & Equipment International (DSEi) exhibition is the largest arms fair in Europe, as befits the UK’s post as one of the biggest defence exporters in the world.

In a sense, the exhibition can be seen as a general, if unscientific, barometer of the general state of the defence industry and this year’s gathering was oddly muted. Modesty was the watchword of virtually every exhibitor, despite the figures – 1,350 companies attended from more than 40 countries – closely resembling those of previous years.

There is traditionally…

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