Recent geopolitical tensions have led to a remarkable 6.8% surge in global military spending from 2022 to 2023, marking the largest increase since 2009. This rise in expenditure is fueling substantial arms transfers globally, highlighted by significant arms deals including Canada's acquisition of 88 F-35A fighter jets from the U.S. and ongoing military procurement by Ukraine. Analysis of the largest arms transfers reveals a significant shift in military power dynamics over the past decade, reflecting changing international relations and security needs.
The rise in defense spending has spurred an increase in arms transfers around the world, with the last decade seeing some of the largest arms deals in recorded history.
In 2022, Canada ordered 88 F-35A Lighting-2 aircraft from the United States as part of a $15 billion weapons package.
World military expenditure rose 6.8% from 2022 to 2023, the largest one-year increase in over 10 years.
Recent weapons commerce is reshaping military power around the world.
Collection
[
|
...
]