The major rearmament efforts in Europe

Tuesday, Nov 5, 2024

Mediapool

Putin’s aggression drives record global military spending and weapon demand, causing price hikes and delays.

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[This is an automatically generated summary, for reference only]

Russia’s military aggression against Ukraine has depleted NATO member arsenals and fundamentally changed business practices, with demand at an all-time high, soaring prices, and extended delivery times sometimes reaching ten years. According to a SIPRI study, global military spending reached $2.443 trillion in 2023, a 6.8% increase from 2022, while European countries nearly doubled their main weapons imports between 2019-2023 compared to 2014-2018, with about 55% of those imports occurring during the latter period.

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