Spain unveils new multi-billion euro defence investment plan
The Alvaro de Bazan class frigate will undergo a half-life modernisation under the new plan. (Photo: US Navy / Petty Officer 3rd Class Weston Jones)
The new plan outlined how Spain would reach 2% of its GDP spend on defence by 2025, with €1.9 billion earmarked for new equipment acquisition with several land, naval and air platforms disclosed to be replaced or upgraded.
Spain has released its upgraded technology and industry defence plan, outlining details behind its €10.5 billion (US$11.9 billion) investment by 2025 to boost defence spending and reach its NATO target of 2% GDP.
The new plan identified five key objectives which included modernising the country’s defence capabilities, promoting development and training around new technologies, and promoting the growth of defence and security industry.
The budget will be allocated across five areas, with 35% of this total – around €687 million – to be used to focus on equipment and training of the Spanish Armed Forces. Almost a third of the budget will
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