Podcast host Meia Nouwens is joined by IISS experts Henry Boyd, Fenella McGerty, Ester Sabatino and Ruben Stewart to discuss the 2026 edition of The Military Balance. The Military Balance reveals a world of accelerating defence transformation. From Europe’s structural spending surge and procurement bottlenecks, to institutionalised drone warfare, Gulf industrial localisation and intensifying US-China competition, IISS experts unpack how shifting US policy and allied burden-sharing are reshaping global military dynamics.

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