Defense Industry
Seven European Nations Increases Defense Budget, Amid Ukraine Crisis
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Defense budget
Americas
The U.S. to Boost 2023 Defense Budget, Amid Ukraine Invasion
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East Asia and Pacific Region
China Raises Defense Spending By 7.1% To $229 Billion
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Defense Industry
Germany Commits €100 Billion to Meet NATO Defense Spending Requirement
Germany has announced a plan to prioritize military spending in light of Russia’s invasion of Ukraine. A “special fund” will be set up to better equip the Bundeswehr, reported DW News. German Chancellor Olaf Scholz announced […]
Europe
British MoD Increased Royal Navy’s Spending to £7.5 Billion Over Next Decade
In accordance with the “Global Britain” policy, the UK government has already signaled its desire for a more capable Royal Navy with the Integrated Review 2021, which was published in March 2021. Another indication of […]
Europe
Romania Increases 2022 Defense Budget By 32%
Romania’s president Klaus Iohannis passed the State Budget for 2022 on 28 December, a week after the Parliament gave its approval. Military Expenditure in Romania increased to $5.5 billion in 2020 from $4.6 in 2019 […]
Defense Industry
Japan Approves Highest Ever Defense Budget
Japan’s Ministry of Defense (MoD) Japan’s Ministry of Defense (MoD) announced the outline of the FY2022 defense budget on December 24, 2021. According to the MoD, the budget for FY2022 will be designed as a […]
Americas
President Biden Approves $770 Billion Defense Spending
U.S. President Joe Biden on Monday signed the National Defense Authorization Act (NDAA) into law, authorizing nearly $770 billion in military spending, including a 2.7% pay raise for service members, for the fiscal year 2022, […]
Americas
NATO to boost military expenditures in fiscal year 2021
The military budgets of NATO’s European nations and Canada increased to an estimated 1.73% of gross domestic product in 2020, up from 1.55% in 2019, the alliance said in an annual report released on Tuesday. […]
South Asia
India allocates $18.48 billion for new procurement in FY2021 budget
India allocated $18.48 billion for weapons procurement in its 2021-2022 defense budget amid an ongoing military standoff with China and financial stress on the national economy due to the coronavirus pandemic. Excluding pensions, the new […]