Coronavirus: Fall Predicted In European Defence Spending

Leading defence analysts have warned the coronavirus pandemic is to cause a significant decrease in European defence spending.

In the medium term, defence spending among European nations is set to fall by almost 20%, according to research by defence and security analysis agency, Janes.

Before the pandemic, it predicted European defence spending would reach $324.4 billion in 2025, however, it now forecasts $270.9 billion.

The agency has also revised its defence spending expectations in the short term.

Janes previously predicted defence expenditure to increase by 2% in 2021 but is now estimating a 0.97% fall as a result of the pandemic.

The report also said it expects the crisis to impact some of the continent's biggest defence spenders.

According to Janes, the UK, France and Germany together account for 50% of Europe's defence spending.

It forecasts a collective decrease in spending of $25 billion between 2031.

Ana-Roxana Popescu, a senior industry analyst at Janes, said: "Given the economic impact of the Covid-19 crisis on overall budgets, they [the UK, France and Germany] are likely to implement cuts to their military expenditure in the near term, bringing down the overall European average."

Ms Popescu also warned the effect of the pandemic on the three countries will be "relatively long-lasting".

Last month, the European Union High Representative urged countries to not cut spending amid the pandemic.

Cover image: RAF Typhoon on a NATO mission in April (Picture: RAF).