US EditionGlobal Military Spending Reaches $2.7 Trillion in Record 2024 Increase
- World military spending reached a record USD 2.718 trillion in 2024, driven mainly by Europe amid the ongoing war in Ukraine.
- This increase followed rising tensions and conflict-related concerns, with the war in Ukraine pushing European NATO members and Russia to expand budgets sharply.
- The United States spent USD 997 billion, modernising its capabilities, while China grew its budget by 7%, maintaining its position as the second largest spender.
- According to SIPRI senior researcher Diego Lopes da Silva, Russia has once again raised its military budget substantially, further expanding the difference in defense expenditures compared to Ukraine.
- This surge signals persistent global militarisation, with over 100 countries raising expenditure and NATO members increasingly meeting or exceeding the 2% GDP guideline.
262 Articles
262 Articles
BorderReport
TRISTATEHOMEPAGEMexico sees third-largest increase in military spending worldwide
With global military spending that has never been so high since the Cold War, Moscow's export is the black continent, which regains second place on a global level by unraveling France.In the course of 2024 global military spending reached an unprecedented figure of 2.72 trillion...
Global military spending reached $2,718 trillion in 2024, an increase of 9.4% over the previous year, according to the latest report of the Stockholm International Peace Research Institute (SIPRI). READ ALSO:Pedro Sánchez increases military spending on Spaniards by more than 10 billion euros.This is the largest year-on-year increase since the end of the Cold War, driven by active conflicts, persistent geopolitical tensions and an arms race in mu…
Taiwan's Frustrating Defense Spending Limits
By: Jens KastnerAmid deep concerns in the west, particularly in the United States vis-à-vis a long-threatened invasion of Taiwan, military planners in Taipei appear remarkably blasé. The island’s military spending inched up by a meager 1.8 percent year-on-year in 2024, far outpaced by the rest of East Asia’s average 7.8 percent – China at 7 percent, Jap…
Global Military Spending Soars to Highest Point Since the Cold War
Countries spent $2.72 trillion on defense in 2024, a 9.4% rise. Credit: Sgt. Anthony Jones / CC BY 2.0 Countries worldwide spent a record $2.72 trillion on their militaries in 2024, according to new data from the Stockholm International Peace Research Institute (SIPRI). The 9.4% increase from 2023 marks the biggest spike in arms spending since the Cold War. Global military spending averaged $334 per person. It was the tenth straight year of grow…
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