US EditionGlobal Military Spending Reaches $2.7 Trillion in Record 2024 Increase
- Global military expenditures climbed 9.4% to reach $2.72 trillion in 2024, representing the largest annual growth since the Cold War era, largely fueled by ongoing conflicts and rising tensions particularly across regions including Europe and the Middle East.
- Heightened geopolitical tensions, including Russia's 2022 invasion of Ukraine and ongoing conflicts in Gaza, led many countries to significantly raise their defense budgets.
- The United States continued to lead global military spending with a budget of $997 billion, representing 37% of the total worldwide defense expenditures, while European countries, together with Russia’s $149 billion outlay, collectively spent $693 billion.
- Ukraine spent $64.7 billion, 34% of its GDP—the highest military burden globally—while Germany increased spending 28% to $88.5 billion and Israel rose 65% to $46.5 billion amid regional conflicts.
- SIPRI warned that rising military investments risk exacerbating arms races and fiscal challenges, with many countries’ recent commitments suggesting continued spending growth amid unresolved global tensions.
261 Articles
261 Articles
Mexico sees third-largest increase in military spending worldwide
SAN DIEGO (Border Report) -- Mexico's military spending went up by 39% in 2024, making it the world's third-largest increase percentage wise, according to the Stockholm International Peace Research Institute. By comparison, military spending in the U.S. went up by 5.7%; the U.K. by 2.8%; and China by 7%. In 2024, Mexico spent $16.7 billion on its military, primarily due to increased funding for its National Guard and navy, now involved in a mili…
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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