COPENHAGEN (Reuters) -Denmark's defence minister said on Tuesday the country's military may buy a fleet of Boeing P-8 submarine-hunting maritime patrol aircraft to help boost the surveillance of the Faroe Islands and Greenland.

Denmark could potentially spend an amount corresponding to billions of dollars on an acquisition, Troels Lund Poulsen said, part of the Nordic nation's plan to sharply boost its military hardware.

"I would prefer that we collaborate with other NATO countries in order to get the most value for our money and to have a greater degree of flexibility," Poulsen said in a statement to Reuters.

"But if that proves impossible, then I am also willing to accept that we will have to acquire this P-8 aircraft capacity ourselves," he said.

Danish broadcaster TV2 first reported the news late on Monday.

The defence ministry declined to comment on Tuesday on the exact sum it may spend or how many aircraft it could buy. Any acquisition must first be approved by parliament.

Poulsen said the threat level in the Arctic was increasing and that it was necessary to get a better picture of movements around Greenland and the Faroe Islands, both semi-autonomous Danish territories.

Russian and Chinese state vessels have appeared unexpectedly around Greenland in the past and U.S. President Donald Trump has accused Denmark of failing to keep the island safe from potential incursions. Both Russia and China have in the past denied any such plans.