Global military expenditure soared to $2.7 trillion in 2024, reflecting a sharp 9.4% increase in real terms compared to the previous year — the steepest annual rise since the end of the Cold War — according to new data released by the Stockholm International Peace Research Institute (SIPRI).

The surge marks the 10th consecutive year of rising defense budgets worldwide and comes amid intensifying global conflicts, deteriorating security conditions, and mounting geopolitical rivalries. SIPRI’s analysis highlights significant increases across all regions, with especially rapid growth in Europe and the Middle East.

The five largest military spenders in 2024 were the United States, China, Russia, Germany, and India, which collectively accounted for $1.635 trillion — or 60% — of global military expenditure. Meanwhile, the global military burden, defined as military spending as a share of global GDP, climbed to 2.5%.

“Over 100 countries increased their military budgets last year,” said Xiao Liang, researcher at SIPRI’s Military Expenditure and Arms Production Programme. “As governments increasingly prioritize military security, often at the expense of other sectors, the long-term economic and social implications could be profound.”

European Surge Dominates Global Growth

Europe, including Russia, played a central role in driving the global spike. Military expenditure across the continent rose by 17% to reach $693 billion — surpassing even Cold War-era levels. All European nations except Malta expanded their defense budgets.

Russia’s military expenditure increased by 38% to an estimated $149 billion, accounting for 7.1% of its GDP and nearly a fifth of total government spending. Ukraine, now in the third year of war, raised its defense budget by 2.9% to $64.7 billion, representing 34% of its GDP — the highest military burden of any country in 2024.

“Russia once again significantly increased its military spending, widening the spending gap with Ukraine,” noted SIPRI senior researcher Diego Lopes da Silva. “With all tax revenue allocated to the military, Ukraine faces limited space to further increase its defense spending.”

Germany emerged as the largest military spender in Western Europe for the first time since reunification, boosting its defense budget by 28% to $88.5 billion — largely due to its €100 billion special defense fund. Poland also saw a dramatic 31% rise in military spending, reaching $38 billion, or 4.2% of GDP.

NATO Nations Ramp Up Defense Budgets

All 32 NATO members raised their military expenditures in 2024, collectively spending $1.5 trillion — 55% of the global total. Notably, 18 NATO countries met or exceeded the alliance’s 2% of GDP spending target, up from 11 in 2023 — a record since the benchmark was adopted in 2014.

The United States accounted for the lion’s share of NATO and global military spending, with a 5.7% increase bringing its total to $997 billion — 66% of NATO’s total and 37% of global expenditure. A significant portion was directed at modernizing its nuclear arsenal and maintaining superiority over Russia and China.

European NATO members spent a combined $454 billion, reflecting growing concerns over Russian aggression and fears of U.S. strategic disengagement.

“Higher spending doesn’t automatically equate to greater military capability or independence from the U.S.,” cautioned SIPRI researcher Jade Guiberteau Ricard. “These outcomes require deeper structural reforms and long-term planning.”

Middle East Military Budgets See Largest Growth Since 1967

Military expenditure in the Middle East rose by 15% to an estimated $243 billion in 2024. The biggest increases were in Israel and Lebanon, both of which were deeply affected by the war in Gaza and ongoing conflict along Israel’s northern border.

Israel’s defense budget surged by 65% to $46.5 billion, marking its steepest annual rise since the Six-Day War in 1967. The country's military burden reached 8.8% of GDP, the second highest globally. Lebanon increased its military budget by 58% to $635 million, reversing years of decline due to economic instability.

In contrast, Iran’s military spending fell by 10% to $7.9 billion, hampered by the impact of sanctions and limited economic capacity despite Tehran’s involvement in regional conflicts.

Asia-Pacific Nations Fuel Military Modernization

In Asia and Oceania, China led with a 7% increase in defense spending, reaching $314 billion and extending its 30-year streak of rising military budgets. China accounted for 50% of total regional military spending, reflecting ongoing investments in cyberwarfare, nuclear expansion, and military modernization.

Japan recorded its largest post-war increase in military spending — up 21% to $55.3 billion — as it seeks to strengthen defenses amid growing tensions with China. India’s defense budget rose by 1.6% to $86.1 billion, while Taiwan increased its military outlay by 1.8% to $16.5 billion.

“With multiple unresolved disputes and strategic rivalries, the Asia-Pacific region risks entering a dangerous arms race,” warned Nan Tian, Director of SIPRI’s Military Expenditure and Arms Production Programme.

Notable Developments Worldwide

United Kingdom: Military spending increased by 2.8% to $81.8 billion, ranking sixth globally.

France: Expenditure rose by 6.1% to $64.7 billion, placing it ninth.

Sweden: Spending surged 34% to $12 billion — reaching NATO’s 2% of GDP target in its first year as a member.

Saudi Arabia: Despite being the top spender in the Middle East at $80.3 billion, the increase was a modest 1.5%.

Myanmar: Military expenditure jumped 66% to $5 billion due to escalating internal conflicts.

Mexico: Spending rose 39% to $16.7 billion, driven by security operations against organized crime.

Africa: Regional spending increased by 3% to $52.1 billion — 11% higher than in 2015.

The SIPRI report underscores the growing militarization and geopolitical rivalries fueling record defense budgets, raising concerns about global stability in an increasingly volatile world. (ILKHA)