India, the Philippines, Singapore, Taiwan and Thailand are not yet formal NATO partners, though Singapore supplied troops for NATO’s war in Afghanistan.
March 23, 2023
$1T in new defense spending pledged by key US partners in 1 year: Analysis
In the last year, 37 nations have combined to announce defense spending increases of over $1 trillion, to be spent during the next five years, according to a new American Enterprise Institute analysis
According to a new AEI analysis, since the start of the Ukraine invasion, 37 nations have combined to announce defense spending increases of over $1 trillion, to be spent during the next five years.
…The end of the Cold War and the last Great Power competition of the 20th century initiated a belief among the allies that military spending was wasteful and unnecessary. Countries didn’t need to actually defend their territories, since large scale conventional wars were seen as relics of the past….
The majority of NATO countries have pledged to increase their spending in the last year. Just as significantly, important Asian allies…have made their own planned increases known. What is most remarkable about this sea change in planned spending is that US allies have pledged to increase spending at much higher year-over-year rates than the US is currently planning. And more increases may be on the way as new allied spending promises continue to be revealed, the latest being the UK prime minister announcing a further $6 billion defense budget increase over the next two years.
The preponderance of future growth in the defense market will now no longer be in the US, but in Europe and Asia….
Graphic: American Enterprise Institute