European arms imports rose 155 per cent in 2020-24 and Ukraine has become the world's biggest arms importer following Russia's 2022 invasion, according to a report released by a leading conflict think tank on Monday.
Data from the Stockholm International Peace Research Institute (SIPRI) showed the United States continued to dominate the global stage, with U.S. companies increasing their share of global arms exports to 43 per cent in 2020-24, from 35 per cent in the 2015-2019 period. U.S. arms exports amounted to about the same share of the global market as the next eight countries combined.
Europe as a whole accounted for 28 per cent of global arms imports from 2020-24, up from 11 per cent between 2015 and 2019, SIPRI said.
Ukraine alone accounted for 8.8 per cent of global arms imports form 2020-24, and just under half of those imports were from the U.S., which under President Donald Trump has paused military aid to Kyiv.
Russia's invasion of Ukraine has led to the biggest confrontation between the West and Russia since the 1962 Cuban Missile Crisis, and the Kremlin and the White House have said missteps could trigger World War Three.
The war has underlined Europe's dependence on U.S. arms although the trans-Atlantic alliance, the foundation of Europe's security strategy since World War Two, is increasingly being questioned.
The U.S. supplied more than 50 per cent of Europe's arms imports from 2020-24, with Britain, the Netherlands and Norway among the top buyers, the SIPRI data showed.
European leaders last Thursday backed plans to spend more on defence following Trump's reversal of U.S. policies.
"With an increasingly belligerent Russia and transatlantic relations under stress during the first Trump presidency, European NATO states have taken steps to reduce their dependence on arms imports and to strengthen the European arms industry," said Pieter Wezeman, Senior Researcher with the SIPRI Arms Transfers Programme.
"But the transatlantic arms-supply relationship has deep roots. Imports from the USA have risen and European NATO states have almost 500 combat aircraft and many other weapons still on order from the USA."
Russian arms exports dropped to 7.8 per cent of the global market in the 2020-24 period, compared to 21 per cent in the previous four-year period, as a result of international sanctions over the war in Ukraine and increased domestic demand for weapons.
Asia and Oceania's arms imports dropped 21 per cent, mainly because of China producing more of its own weapons.
Overall, global arms transfers were roughly at the same level in the 2020-2024 period as in the previous four years, the SIPRI data showed.
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