Arteta insists "it is about time" his club looked to splash the cash.
Speaking as the Gunners arrived in Vietnam for the second leg of their Far East tour on Monday, Arteta said: "The club have said they are going to be very ambitious in the market and have got the financial resources to get big players. I think it's about time. When you compare us to other top English clubs and the money they have paid, we are very far apart.
"The value of this club is the class and what it means is very difficult to match. Now, financially, they are very strong so maybe we will be more aggressive in the transfer market. Big signings create a good atmosphere and we need to do something because other teams are doing it and I think we will."