EU launches €800B rearmament plan to boost security and aid Ukraine
As Russia’s war against Ukraine continues and U.S. signals of reduced security commitments to allies grow louder, European countries are moving toward large-scale rearmament.
In March 2025, European Commission President Ursula von der Leyen unveiled a sweeping plan to boost Europe’s defense capabilities, calling for nearly €800 billion in military spending. The initiative aims to not only increase long-term security across the continent but also strengthen support for Ukraine in its fight against Russian aggression.
However, a joint study published in June by Germany’s Kiel Institute for the World Economy and the Brussels-based Bruegel think tank warned that current European efforts remain insufficient to match Russia’s military capabilities. To close the gap, the report argues, Europe would need to quintuple its arms production by 2030.
NV breaks down how Europe is rearming—by the numbers.
European defense orders and revenue hit historic highs
The combined order portfolio of Europe’s top 10 defense firms grew from $222 billion in 2021 to $362 billion in 2024, reflecting a massive increase in demand for military hardware and systems.
Meanwhile, revenues for these firms have surged:
Airbus (France, Germany, UK):
2024: €69.2B | 2023: €65.4BBAE Systems (UK):
2024: €31B | 2023: €27.2BSafran (France):
2024: €27.3B | 2023: €23.1BThales (France):
2024: €20.6B | 2023: €18.4BLeonardo (Italy):
2024: €17.8B | 2023: €15.3BDassault Aviation (France):
2024: €10.8B | 2023: €8.2BRheinmetall (Germany):
2024: €9.7B | 2023: €7.1BFincantieri (Italy):
2024: €8.1B | 2023: €7.7BSaab (Sweden):
2024: €5.7B | 2023: €4.7BKNDS (Germany, France):
2024: €3.8B | 2023: €3.3B
Defense industry jobs steadily rising
The number of jobs in the European defense sector has also seen consistent growth:
2021: 511,300
2022: 533,500
2023: 581,000
Military budgets growing fastest in Eastern Europe
Between 2021 and 2025, several European countries—especially in the east—have dramatically increased their defense budgets:
Poland: +244%
Lithuania: +192%
Latvia: +147%
Luxembourg: +121%
Sweden: +120%
Denmark: +107%
Bulgaria: +101%
Netherlands / Belgium: +98%
Romania: +90%
Czech Republic: +86%
Hungary: +81%
Estonia: +72%
Slovakia: +49%
Germany: +44%
Malta: +41%
Slovenia: +31%
Ireland: +29%
Cyprus: +28%
Finland: +27%
France: +25%
Austria: +22%
Spain: +16%
Italy: +14%
Some countries lagged behind or even reduced military spending:
Croatia: 0%
Portugal: −5%
Greece: −7%
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