Mr Selby
By Oliver Selby, Head of Sales, FANUC UK
From Trump to the Ukraine invasion, Covid restrictions to the growth of AI, violence in the Middle East to the rise of the far right in Europe, it’s clear that we are living in turbulent times. Amid such geopolitical uncertainty, world military expenditure has unsurprisingly rocketed, increasing by almost 10% in just one year (from 2023 to 2024) to reach $2,718 billion[1]. The countries with the highest military expenditures are the USA, China and Russia respectively, but even across Europe, defence stocks hit record levels in 2025[2]. And the UK is no exception. According to the Institute for Fiscal Studies (IFS), in 2024-25 the UK spent £66 billion (2.3% of national income) on defence and, as part of a NATO agreement, has committed to increase defence spending to 3.5% of GDP by 2035.
- Oliver Selby, Head of Sales, FANUC UK
- Industry News
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