World military spending reached $2718 billion in 2024, an increase of 9.4 per cent in real terms from 2023 and the steepest year-on-year rise since at least the end of the Cold War.
EU member states increased their collective military spending between 2021 and 2024 with over 30%, reaching an estimated €326 billion in 2024. Governments increasingly prioritize military security, often at the expense of other budget areas. This will have a significant effect on social spending and impact the economy of societies for years to come.
Arms industry profit
The United States is the world’s biggest arms producer: most largest military companies are American. However, European companies are cashing in as well.
In the first nine months of 2024, France’s Thales sales were up by 6.2 percent at €14 billion compared to the same period in 2023, largely driven by defense and security. Sweden’s Saab saw its orders jump by 71 percent to 79 billion krona (€6.9 billion). Germany’s Rheinmetall expects sales to jump by 25% to 30% in 2025. Its profit hit a record high last year, up 61% to €1.48 billion. Italy’s Leonardo group reported a 16.8% increase in orders in 2024, reaching €20.9 billion compared to 2023, primarily driven by strong demand in the Electronics for Defence and Security sector, as well as the Helicopters division. Leonardo’s revenue grew by 16.2% totalling €17.8 billion.
Dutch military spending
The Dutch military industry is awarded €1,15 billion from the Dutch defense budget to innovate and expand to be competitive on the international arms market. Dutch military spending almost tripled since 2015, from €7,8 billion to €22,4 billion in 2025. According to NATO plans, this budget should rise to 5% of GDP meaning an extra €19 billion, at the expense of social, international and environmental budgets.
Wendela de Vries – Stop Wapenhandel
