This thesis analyzes the process of European Defence Industry&#039 / s restructuring and consolidation process in accordance with the emerging Post-Cold War period transformation requirements. To achieve this aim it investigates the process in terms of the European Defence Industrial Base on the one hand and international level of convergence efforts on the other. It demonstrates drivers of change for the defence industry, namely / the narrowing budgets, changing relationship between state and defence industry, importance of technological achievements, rise of civil sector and internationalization of national defence firms. Regarding the restructuring and consolidation process the thesis examines behavior of firms in terms of merger and/or acquisition... etc activities in order to adopt the Post-Cold War transformations. Moreover, due to its significance of being regarded as the first true attempt of creating a transnational defence sector identity the EADS is also investigated. Also it deals with the institutional level of convergence efforts mainly in terms of NATO, EU, WEU/WEAO and OCCAR. To provide a comparative framework, the US defence industry and its impact on the European counterpart is examined

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