Off the back of growing global tensions and amidst the wars in Ukraine and Gaza, military spending amongst NATO members has driven a significant increase in global defence spend, hitting $2.2 trillion in 2023.

Non-US members of NATO have increased spending by 32% since the invasion of Crimea in 2014.

“The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims,” International Institute for Strategic Studies.

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