Scandinavian Defense Doubling Spending
European defense budgets are increasing following Russia's invasion of Ukraine.
Since Russia’s initial incursion into Ukraine in 2014, Scandinavian countries bolstered military budgets in response, with spending rising by 27.2% in real terms—going from $18.7 billion to $23.8 billion—over the next seven years.
Aviation Week Network projections show spending for the four states combined rising from $23.8 billion in 2021 to around $37.8 billion by the end of the decade—an increase of 58.8% and more than double 2014's figure.
Discover how Norway, Denmark, Finland and Sweden are upping their military spending.