Sweden, the newest NATO member, is set to invest over €1.91 billion in acquiring 44 new Leopard 2 A8 tanks and refurbishing its existing fleet to strengthen its defense capabilities.

Sweden is set to purchase 44 new German-made Leopard 2 A8 battle tanks as part of its efforts to modernize its military arsenal. The country's Defense Minister, Pal Jonson, revealed that Stockholm plans to invest approximately 22 billion kronor (€1.91 billion, $1.97 billion) to strengthen its defense capabilities.

The Swedish defense agency FMV has formalized an agreement with the German-French arms company KNDS, with tank deliveries expected to begin in 2028 and to be completed by 2031.

Out of the 44 new tanks, 10 will replace those Sweden donated to Ukraine as part of its support. In addition to these new tanks, 66 Leopard 2 tanks will undergo renovations.

This acquisition marks the most expensive military fleet upgrade Sweden has undertaken in recent years, as many of the current tanks were originally purchased in the early 2000s. Jonson emphasized that Sweden, now a NATO member, is embarking on its most significant defense rearmament since the 1950s, driven by what he described as a "deteriorating security situation."

By the end of 2031, Sweden is expected to have a total of 154 modern tanks in its arsenal. Furthermore, the government has approved the renovation of 90 existing combat vehicles within the Armed Forces.

Sweden, which had maintained a policy of military non-alignment for many years, applied for NATO membership alongside Finland after Russia’s invasion of Ukraine in 2022. Both nations became members of the Western military alliance in March 2023.