Part 5/12:
The trend appears to be driven more by geopolitical fears and strategic calculations than by economic capability. European nations are leading this rearmament wave, driven by perceived threats and regional instability. Notably, nearly all European countries, except Malta, increased their military budgets last year. European military expenditure rose by 17% to $693 billion—levels not seen since the Cold War. Countries like Germany and Poland significantly ramped up their spending, with Germany's military budget growing by 28% to reach $88.5 billion, making it the largest spender in Western Europe. Poland's increase of 31% reflects similar trends of regional militarization.