Increased fears about global stability and the rise of new military powers is driving a return to steady growth in worldwide defence spending.

A new analysis of arms spending from Jane’s Defence Budgets report found that outlays on weapons, equipment rose 1pc in 2016, to a global total of $1.57 trillion.

The uptick marks a turning point in defence spending, according to Fenella McGerty, principal analyst at Jane’s, after a “lacklustre” period with budgets constrained by the aftermath of the financial crash.

“Defence spending returned to a healthy rate of growth in 2016, kicking off what we expect to be a decade of stronger global defence spending,” said Ms McGerty. “It should should recover to pre-financial crisis levels by 2018.”