Global military expenditure surged to an unprecedented $2.718 trillion in 2024, marking a 9.4% increase in real terms from the previous year and the sharpest annual rise since the end of the Cold War, according to new data released by the Stockholm International Peace Research Institute (SIPRI).
This marks the tenth consecutive year of rising military budgets worldwide. Every major region—including Europe, the Middle East, and Asia—recorded increases, driven by conflict escalation, geopolitical uncertainty, and long-term defense planning in the world’s largest economies.
The five biggest military spenders—the United States, China, Russia, Germany, and India—accounted for 60% of total global military spending, combining for $1.635 trillion.
The U.S. Remains the World’s Largest Military Power
The United States retained its top position, spending $997 billion in 2024—37% of the global total and 66% of all NATO defense spending. Washington’s budget grew by 5.7%, with much of the increase allocated toward nuclear arsenal modernization and advanced weapons systems aimed at countering long-term threats from China and Russia.
Europe’s Defense Budgets Soar Amid Ongoing War in Ukraine
Europe, including Russia, recorded a 17% increase in military expenditure, reaching $693 billion. The war in Ukraine, now in its third year, has fundamentally reshaped defense priorities across the continent.
Germany increased its spending by 28% to $88.5 billion, becoming the fourth-largest military spender globally and the largest in Western Europe, thanks largely to a €100 billion defense modernization package announced in 2022.
Poland posted a 31% increase, reaching $38 billion, or 4.2% of GDP—one of the highest burdens in NATO.
Russia’s military budget reached $149 billion, up 38% from 2023, and now accounts for 7.1% of Russian GDP.
Ukraine, despite severe economic strain, spent $64.7 billion—about 34% of GDP and 43% of Russia’s defense spending.
NATO Spending Reaches New Milestone
In 2024, NATO members collectively spent $1.506 trillion, representing 55% of global military expenditure. A record 18 of 32 NATO members met the alliance’s goal of spending at least 2% of GDP on defense, up from 11 countries in 2023.
Analysts noted this acceleration is driven by both the Russian threat and concerns over U.S. political stability and future NATO engagement, prompting many European states to increase domestic defense capacity.
Middle East Sees Sharp Increases, Led by Israel
The Middle East’s defense spending rose 15% to $243 billion, with notable spikes in countries involved in active conflict:
Israel raised its military budget by 65% to $46.5 billion, marking the sharpest annual increase since 1967. Defense spending now makes up 8.8% of Israel’s GDP, the second-highest globally.
Lebanon increased spending by 58% amid heightened security challenges.
Iran, despite regional engagements, cut its military budget by 10%, constrained by international sanctions and economic pressures.
Asia’s Arms Build-up Continues, Led by China and Japan
China, the world’s second-largest military spender, allocated $314 billion to defense in 2024—7% more than in 2023—marking its 30th consecutive year of growth. China’s budget focuses on modernizing its forces, cyber capabilities, and expanding its nuclear arsenal.
Japan increased its military expenditure by 21% to $55.3 billion, the largest annual hike since 1952.
India spent $86.1 billion, up 1.6%, maintaining its position as the world’s fifth-largest defense spender.
Taiwan saw a 1.8% rise, spending $16.5 billion.
The United Kingdom increased its budget by 2.8% to $81.8 billion, ranking sixth globally.
France spent $64.7 billion (+6.1%), placing ninth.
Sweden, in its first year as a NATO member, increased military expenditure by 34% to $12 billion.
Mexico saw a 39% rise to $16.7 billion, largely due to its domestic militarization strategy.
Myanmar registered the highest growth in Asia, up 66% to $5 billion.
Africa’s total spending reached $52.1 billion, a 3% rise year-over-year.
SIPRI Warns of Long-Term Trade-Offs
“Over 100 countries increased military spending in 2024,” said SIPRI researcher Xiao Liang, noting that the global military burden rose to 2.5% of world GDP. “This reflects a growing political consensus prioritizing defense—often at the cost of social services, climate programs, or development aid.”
SIPRI emphasized that while heightened spending may bolster national security, military capability gains are not guaranteed, especially in systems heavily reliant on foreign partners like NATO. Additionally, rapid arms expansion—especially in regions like the Asia-Pacific—risks escalating into full-scale arms races.
