European defence budgets reached $563 billion in 2025, part of a sustained surge that has seen the continent’s share of global military spending climb from 17% to over 21% since 2022.[1] Employment in the sector hit its highest level ever recorded. An entire industrial base is being rebuilt at remarkable ...
The Office for Budget Responsibility (OBR) has designated an increase in United Kingdom defence spending as a fiscal necessity within its Spring Forecast 2026. This assessment, delivered alongside the Chancellor’s Spring Statement on 4 March 2026, marks a pivotal shift in the nation’s economic planning, acknowledging that the current geopolitical ...
The European Investment Bank (EIB) and the European Defence Agency (EDA) have marked the one-year milestone of their landmark cooperation agreement, signaling a significant shift in the availability of institutional finance for the European defence sector. Following the signing of an updated Memorandum of Understanding in October 2024, the partnership has ...
The Ministry of Defence (MOD) has awarded a multi-million-pound contract to Solid Swivel, a Midlands-based family business, to manufacture and supply specialist anchors and chain cables for the Royal Navy. This agreement marks a significant shift in UK defence procurement by restoring domestic manufacturing capabilities for heavy naval anchors, ending ...
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