EU Defence Spending Hits Record €343B in 2024

The European Defence Agency (EDA) has released its annual Defence Data report for 2024–2025, showing that EU Member States spent €343 billion on defence in 2024 — a 19% increase compared to 2023.

The figure represents 1.9% of GDP, with spending forecast to reach €381 billion, or 2.1% of GDP, in 2025.

For the first time, defence investment exceeded €100 billion, making up 31% of total expenditure. The report highlights record levels of equipment procurement, which rose 39% from 2023 to €88 billion, and a significant boost in research and development (R&D), which grew 20% to €13 billion.

EDA Head Kaja Kallas said: “Europe is spending record amounts on defence to keep our people safe, and we will not stop there. This investment will be funnelled into everything from research and development to the joint procurement and production of essential defence components.”

EDA Chief Executive André Denk added: “Meeting the new NATO target of 3.5% of GDP will require even more effort, spending a total of more than €630 billion a year. Yet we must also cooperate closely, find economies of scale and increase interoperability.”

The data shows that 25 Member States raised defence spending in 2024, with 16 countries boosting budgets by more than 10%. Per active military personnel, defence expenditure climbed to €249,000, compared to €211,000 in 2023 and €138,000 in 2014.

Looking ahead, the EDA forecasts that EU defence investment will rise to nearly €130 billion in 2025, while R&D is expected to reach €17 billion. The report underlines that cooperation and sustained funding are necessary to build next-generation capabilities and reduce reliance on non-EU suppliers.