Global Defense Spending Hits Record $2.72 Trillion, Europe Re-arms

Dagens Industri reports that global military expenditures reached a record $2.72 trillion in 2024, continuing a trend of eleven consecutive years of growth. This increase is driven by evolving geopolitical dynamics, escalating international tensions, and the rapid advancement of military technologies. Consequently, the defense sector is undergoing a significant transformation, with nations actively reassessing their security strategies and defense budgets. Europe is at the forefront of a rapid rearmament effort. The number of NATO countries projected to meet the defense spending target of 2% of GDP is expected to reach 23 in 2025, a substantial increase from just six in 2021, largely influenced by the ongoing conflict in Ukraine. Germany, Poland, and the United Kingdom are leading a military buildup reminiscent of the Cold War era. Meanwhile, the United States, the world's largest military spender, is shifting its focus from legacy systems to modernization. This involves a greater allocation of resources towards research and development for next-generation capabilities, aiming to enhance efficiency and strategic flexibility. In parallel, Dagens Industri highlights Heba Fastighets AB's innovative digital strategy within the real estate sector. The company's "smart forvaltning" system utilizes digital twins and real-time data monitoring for proactive maintenance. By analyzing fault reports and employing IoT technology for self-reporting machinery, Heba endeavors to "discover the problems before they occur," as stated by CEO Patrik Emanuelsson. This approach is designed to improve operational efficiency for both tenants and staff.