UK Prime Minister David Cameron will unveil plans to invest around £178bn in defence equipment and support over the next ten years.
Around £12bn will be spent on nine new Boeing P8 maritime patrol aircraft for maritime surveillance, anti-submarine, and anti-surface ship warfare.
The funding will also be used to expand the life of Typhoon through to 2040, creating two additional squadrons.
The total number of frontline squadrons will increase to seven, with each squadron including around 12 aircraft.
Investment will also be used to improve Typhoon's ground attack capability, and install new active electronically scanned array radars, which will enable operations in hostile environments.
Cameron said: "Over the last five years we have taken the difficult decisions needed to bring down our deficit and restore our economy to strength.
"In 2010, the total black hole in the defence budget alone was bigger than the entire defence budget in that year. Now, it is back in balance."
"Our renewed economic security means we can afford to invest further in our national security.
"This is vital at a time when the threats to our country are growing. From the rise of ISIL and greater instability in the Middle East, to the crisis in Ukraine, the threat of cyber attacks and the risk of pandemics, the world is more dangerous and uncertain today than five years ago.
Two new self-deploying Strike Brigades will also be created by 2025. They will use new Ajax vehicles, which include around 600 armoured vehicles spread across six variants.
Image: UK Prime Minister's office, 10 Downing Street. Photo: courtesy of Crown copyright.