Published on 31 Mar 2024 on Insider Monkey via Yahoo Finance
In this article, we look at artillery strength by country, and list down 20 militaries that have the biggest and advanced arsenal of these weapons. You can skip our detailed analysis on the subject and head over directly to Artillery Strength by Country: Top 5 Militaries.
Russia’s invasion of Ukraine has sent shockwaves across Europe. With war returning to the continent after decades of peace, several countries in the region are aggressively racking up their defense to enhance national security. Global defense expenditure reached a record-high of $2.2 trillion in 2022, with Europe seeing its steepest rise in 30 years having incurred $480 billion on military spending that year.
According to a recent report by the Stockholm International Peace Research Institute (SIPRI), there has been a 94% increase in arms imported by Europe between 2019-2023, compared to 2014-2018, with 55% of the equipment imported in the last five years coming from the United States. The surge in military spending has created a boom in the global defense industry, where output is being increased at a rapid rate to meet growing demand for weapons.