Global arms spending rose to $2 trillion 718 billion in 2024, up 9.4% in real terms from the previous year. This was the largest annual increase since the end of the Cold War. Increases in military budgets were recorded in all regions of the world, most notably in Europe and the Middle East. The US, China, Russia, Germany and India together accounted for 60% of all global spending, reaching $1 trillion 635 billion.
This is evidenced by data from the latest report of the Stockholm International Peace Research Institute (SIPRI).
It is noted that in 2024, global military spending increased for the tenth consecutive year, reaching 2,718 billion dollars. All 15 major countries spending on defense have increased their budgets. The share of global GDP devoted to the military rose to 2.5%.
"More than 100 countries have increased their defense budgets in 2024. As governments increasingly emphasize military security at the expense of other areas, this could have long-term economic and social consequences," said Xiao Liang, a researcher at SIPRI's Military Spending and Arms Production Program.
Europe has become the main driver of global spending growth
Military spending in Europe (including Russia) rose 17% to $693 billion. The ongoing conflict in Ukraine, now in its third year, was a key driver of the spending increase, raising spending to levels exceeding those seen at the end of the Cold War. All European countries except Malta increased their defense budgets in 2024.
- Russia
Spending is estimated at $149 billion, 38% above 2023 levels and double the 2015 figure. This represents 7.1% of Russian GDP and 19% of the country's total public spending.
- Ukraine
Ukraine's military spending increased by 2.9% to $64.7 billion, which is about 43% of Russian spending. Ukraine allocated 34% of its GDP to defense, the highest in the world.
"Russia has once again significantly increased its military spending, reinforcing the gap with Ukraine. With all of Ukraine's tax revenues going to the military, the country faces severe fiscal constraints making it difficult to further increase spending," emphasized Diego Lopez da Silva, Senior Fellow at SIPRI.
- Europe
Central and Western Europe also recorded unprecedented spending increases. Germany increased its defense budget by 28% to $88.5 billion - the largest spending in the region and fourth in the world. Poland increased its military spending by 31% to $38 billion, accounting for 4.2% of its GDP.
"Germany became the leader in military spending in Western Europe for the first time since reunification, boosted by the creation of a €100 billion special defense fund in 2022," said Lorenzo Scarazzato of SIPRI. "Recent initiatives in Germany and other European countries point to the beginning of a period of high military spending that is likely to continue."
- NATO is stepping up its defense efforts
All NATO member states have increased their spending in 2024. The alliance's total spending reached $1 trillion 506 billion, 55% of the global total. In 2024, 18 NATO countries allocated at least 2% of GDP to defense, a record high since the adoption of the relevant guidelines in 2014.
The U.S. military budget grew by 5.7% to $997 billion, accounting for 66% of all NATO spending and 37% of global spending. The U.S. invested heavily in modernizing its armed forces and nuclear arsenal to strengthen its strategic superiority. NATO's European members collectively spent $454 billion, accounting for 30% of the alliance's total spending.
"The increase in spending in Europe was mainly driven by the ongoing threat from Russia and concerns about a possible U.S. withdrawal from NATO," said Jade Guiberto Ricard of SIPRI. "However, increased spending alone does not guarantee increased military capabilities or independence from the US."
- The Middle East and Asia are increasing defense budgets
Military spending by Middle Eastern countries increased by 15% in 2024, reaching $243 billion. Israel increased its defense budget by 65% to $46.5 billion, the sharpest increase since 1967. This is due to the ongoing war in Gaza and the escalating conflict with Hezbollah. The share of military spending in Israel's GDP rose to 8.8%, the second highest in the world.
Lebanon's military budget rose 58% to $635 million amid attempts to rebuild defense forces after economic and political crises.
"Despite expectations of rising military spending in the Middle East, the bulk of the increase came from Israel and Lebanon," said SIPRI's Zubaida Karim. "In other countries, growth was limited due to economic difficulties."
Iran's spending fell 10%, to $7.9 billion, due to sanctions pressures that have limited the country's ability to boost its military budget.
In Asia and Oceania, China continued to increase spending, allocating $314 billion to defense - up 7%. This gave it 50% of all spending in the region. The country continues to modernize its military and expand cyber and nuclear capabilities.
Japan increased spending by 21% to $55.3 billion, a record increase since 1952. The country's military burden rose to 1.4% of GDP. India spent $86.1 billion (up 1.6%) and Taiwan increased spending by 1.8% to $16.5 billion.
"Asian and Oceania states are actively investing in advanced military technologies amid ongoing regional tensions," said Nan Tian of SIPRI.
- Other important changes
The UK increased spending by 2.8% to $81.8 billion, ranking sixth globally. France's budget rose 6.1%, to $64.7 billion.
Sweden, which joined NATO, increased spending by 34%, to $12 billion, reaching 2% of GDP for the first time.
Saudi Arabia maintained its leadership in the Middle East in military spending, increasing by 1.5%, to $80.3 billion, although the figure is 20% below 2015 levels.
Myanmar posted the highest growth rate in Asia and Oceania, with its military spending rising 66% to $5 billion amid internal conflict.
Mexico's military spending rose 39%, to $16.7 billion, as the National Guard and Navy expanded its operations against organized crime.
African countries increased their military budgets by 3% to $52 .1 billion, up 11% from 2015 levels.
