Denmark will increase its military budget by a combined $A10.99 billion this year and next to address acute shortcomings, most notably in surface-to-air missile defence systems, the prime minister says.
After decades of drastic cuts in defence spending, Denmark last year allocated and extra 190 billion Kroner ($A41.74 billion) for its military over a 10-year span, but has now concluded that more is needed and that it must come quickly.
"Does the world look uneasy? Yes. Is there reason to believe it will be over soon? No," Prime Minister Mette Frederiksen told a press conference.
"There is one message for the chief of defence: Buy, buy, buy."
She said procurement would be made without going through the normal lengthy tender procedures.
"If we can't get the best equipment, buy the next best. There's only one thing that counts now and that is speed," Frederiksen said.
The increased funds will help Denmark get to more than three per cent of GDP on defence, the Danish defence ministry said in a statement.
The fund can also be used for additional military support to Ukraine.
When the war in Ukraine ends, the Danish Defence Intelligence Service assesses that Russia over the course of two years will be able to build up its military power to a level that will allow them to wage a war against one or several NATO-countries, the Danish Defence Ministry said in a statement.
"This calls for swift, political action,” Danish Defence Minister Troels Lund Poulsen said.
The government will look at the need for additional funding for the Danish Defence later this year after receiving the new NATO capability targets and when negotiating another agreement on the Arctic and North Atlantic, the statement said.
Denmark, along with most other NATO members, has this year come under increased pressure from US President Donald Trump to ramp up military capabilities further.
"All European countries must take greater responsibility for security in Europe," Danish Foreign Minister Lars Løkke Rasmussen said.
"This sends a clear signal to all our allies that we understand the security challenges – and that we are ready to act now.”
While Denmark is among the biggest contributors of military aid and equipment to Ukraine relative to the size of its economy, the aid has depleted its own ground forces which lack hardware, ammunition and staff.
The long period of downsizing of domestic forces means Denmark has no air defences and significant shortcomings in its naval capabilities, military experts and government officials have said.
Denmark is a tiny European country with a population of close to six million people.
Nazi Germany invaded Denmark in 1940 during the Second World War.
