Global defence spending hits record highs amid threats from Russia and beyond
European armies require sufficient stockpiles of spares, ammunition and logistics to meet NATO’s planning assumption. (Photo: British Army/Crown Copyright)
With the possibility of having to confront challenges without substantial US support looming, European nations have been compelled to reassess their defence strategies and prioritise investments to ensure collective security and resilience.
Global defence spending reached a record US$2.2 trillion in 2023, propelled by heightened geopolitical tensions stemming from Russia’s invasion of Ukraine and other conflicts across the globe, an annual assessment by a defence think tank found.
“Many governments are responding by focusing more on their defence needs, driven, in part, by the realisation that countries such as Russia will embrace the use of force to get their way,” said Dr Bastian Giegerich, director-general and chief executive of the International Institute of Strategic Studies (IISS), during the opening statement at the launch of Military Balance 2024, the organisation’s annual global assessment of military
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