Spending more on defence must, however, go hand-in-hand with increased efficiency. As both the recent Draghi and Letta reports set out, the European defence industry remains fragmented, lacks scale and needs further consolidation and specialisation to create poles of excellence.

The Commission estimates that the EU needs to invest €500 billion in the sector over the coming decade so that it can continue to support Ukraine but also ensure it is in a position to defend itself following decades of under-investments.

European countries need to increase their defense spending. Otherwise, they will be unable to help Ukraine defend against Russia's invasion, stated Latvian Prime Minister Evika Siliņa ahead of an informal meeting of EU leaders in Brussels.