The combined annual figure has been steadily rising since around 2015.
Assembling a T-72B3 battle tank at the Uralvagonzavod factory, a Rostec subsidiary, developing and producing military hardware.European defense spending will surpass $300 billion a year by 2021, according to new research from Jane's by IHS Markit.
At a NATO summit in 2017, Trump ramped up that pressure by noting the U.S. had allocated more cash to defense than all the other NATO countries combined. "Political factors are continuing to present a key driver as Europe responds to pressure from NATO allies — primarily the U.S. — to increase defense spending," said McGerty.
The analysis suggests that in 2019, European defense spending as a whole will grow by almost 5% from the previous year.
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