Global arms revenues hit a record 679 billion dollars in 2024, reflecting a sweeping rearmament drive across major powers and rising military pressures from Europe to the Middle East.
The 6-day The International Defence Industry Fair (IDEF), considered one of the world’s largest defence events, opened on Tuesday in Istanbul, Türkiye, with top ministers and commanders from foreign countries in attendance.
Finland has been selected as one of the countries implementing European Union measures to supply Ukraine with defence materials, using funds from frozen Russian assets.
The Ministry of National Defence of Lithuania has allocated €10 million for the production of long-range weapons in Ukraine, according to a statement posted on the Ukrainian Defence Ministry's Telegram channel on Monday.
Italy will unveil an industrial strategy in June, linking its automotive, defence, and aerospace sectors amid Europe's focus on defence spending and satellite security.
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