US EditionGlobal Military Spending Reaches $2.7 Trillion in Record 2024 Increase
- Global military expenditures climbed to $2.7 trillion in 2024, representing the largest year-on-year growth observed since the conclusion of the Cold War, according to SIPRI.
- The 9.4 percent increase was largely fueled by ongoing conflicts, escalating geopolitical frictions, and uncertainty about the U.S. Role in NATO, especially impacting Europe and the Middle East.
- Military spending in Europe, including Russia, increased by 17 percent to a total of $693 billion, with every European nation except Malta enlarging their defense budgets; Russia’s expenditure alone surged 38 percent to $149 billion.
- The United States remained the largest spender at $997 billion, a 5.7 percent rise accounting for 37 percent of global spending, while China increased its budget by 7 percent to $314 billion.
- The report suggests the sustained spending growth may cause significant socio-economic impacts as many nations divert funds from other areas, with over 100 countries raising their military budgets in 2024.
260 Articles
260 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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