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The Impact of the War in Ukraine on the European Defence Market

This document analyses the effects of the war in Ukraine on the defence markets of European states. This spending has seen a continuous overall increase since 2014, which has even accelerated following the invasion of eastern Ukraine in February 2022. In addition to the need to arm Ukraine, we seem to be witnessing an arms race resulting in increased requirements and a profound change in European defence markets.

MAULNY Jean-Pierre, Policy Paper, IRIS, September 2023.