Sep 28, 2026
The Pentagon has informed Congress that the war in Iran has cost the United States $43.6 billion as of early September, the highest official estimate to date. The total includes $28 billion needed to replace munitions but does not account for damage to American facilities throughout the Middle East.
Canada has chosen German shipbuilder ThyssenKrupp Marine Systems as its preferred partner to build a new fleet of 12 submarines in what is expected to be the country's largest-ever defence procurement contract. The decision comes as Prime Minister Carney seeks to boost military spending amid what he describes as a 'dangerous and divided world.'
Global military spending climbed to nearly $2.9 trillion in 2025, marking an 11th straight year of growth as rising insecurity and rearmament boosted defense budgets worldwide, according to SIPRI. The trend is expected to continue.