Strategic Intelligence - Critical Minerals in Defense (2026)
Summary
Critical Minerals in Defense is part of the analyst's stategic intelligence series of reports on trends within military equipment modernization.This report assesses the role of critical minerals in aerospace and defense, alongside their extraction and strategies to secure supply. Focus is placed on five main critical minerals: rare earth elements, lithium, cobalt, copper, and nickel.
Critical minerals are essential to economic and military systems and are emerging as a geopolitical flashpoint, with volatile prices and risks of restricted access. Defense platforms-from radars and missiles to satellites, sensors, engines, and ammunition-rely on materials such as beryllium, neodymium, tungsten, and lithium.
Rare-earth elements (REEs) are 17 metals widely used in electronics, lasers, magnets, and industry. China dominates REE supply chains and has implemented export restrictions. With Western vulnerabilities exposed, efforts to diversify supply have been accelerated.
Key Highlights
- Studies of emerging technological trends and their broader impact on the defense market.
- Analysis of various critical minerals and projects currently under development
Scope
- The key defense challenges that forces and defense sector suppliers face are covered.
- The investment opportunities for armed forces, suppliers, and institutional investors, across the whole soldier modernization value chain are covered.
- Highlights from the range of different critical minerals initiatives.
Reasons to Buy
- Determine potential investment companies based on trend analysis and market projections.
- Gaining an understanding of the market challenges and opportunities surrounding the critical minerals in defense theme.
- Understanding how critical mineral supply chains and related segments will fit into the overall market and which spending areas are being prioritized.
Table of Contents
- Executive Summary
- Thematic Overview
- Use Cases
- Rare earth elements
- Lithium
- Cobalt
- Copper
- Nickel
- Other materials
- Supply Chain Risks
- Geographic concentration
- High intensity warfare is straining supply chains
- Supply chain security initiatives
- Companies
- Further Reading
- Our Thematic Research Methodology
- Report Authors
- About the Analyst
- Contact Us
- The 17 ‘rare earth minerals’
- Companies
- Further Reading
- How do we score companies in our thematic screen?
- Report Authors
- Key REEs are widely used in defense-critical platforms
- Share of global rare earth reserves by country
- Map of primary rare earth element production
- Global REO production 2021-25
- Share of global lithium reserves by country
- Map of primary lithium production
- Global lithium production (thousand tons) 2021-30
- Global lithium hydroxide and spodumene concentrate prices ($/ton) 2018-27
- Share of global cobalt reserves by country
- Map of primary cobalt production
- Global cobalt production (thousand tons) 2021-30
- Global cobalt prices ($/lb) 2018-24
- Share of global copper reserves by country
- Map of primary copper production
- Global copper production (thousand tons) 2021-30
- Global copper prices ($/ton) 2018-30
- Share of global nickel reserves by country
- Map of primary nickel production
- Global nickel production (thousand tons) 2021-30
- Global nickel prices ($/ton) 2018-30
- China is expected to still dominate critical mineral refinement in 2030
- Our approach to identifying the companies most likely to succeed in a sector over the next five years
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Albemarle
- Anglo American
- BHP
- Freeport McMoRan
- Glencore
- Lynas Rare Earths
- MP Materials
- Sherritt International
- Sociedad Química y Minera (SQM)
- Tianqi Lithium
