Strategic options for small defense companies-1990s

The decline of the overall defense budget has already caused significant reduction in business for almost all defense companies. Furthermore, by almost anyone\´s forecast, there will be further significant declines over the next several years, leading to even a smaller market for industry. Small defense companies are faced with tough choices. One obvious question is “What are the risks of pursuing a different strategy?” In today\´s defense market environment, the more appropriate question is "What are the risks of not pursuing a different strategy?