According to latest data by Stockholm International Peace Research Institute (SIPRI), global military expenditure reached USD 2718 billion in 2024, marking an increase of 9.4% in real terms from 2023. This represents steepest year-on-year rise in military spending since the end of Cold War.
Key Highlights
- Global military spending (2024): USD 2718 billion
- Annual increase (2023–2024): 9.4% (highest since Cold War)
- Top 5 military spenders: United States, China, Russia, Germany, India. These countries together accounted for 60% of global military spending (combined USD 1635 billion)
Regional Trends
Europe:
- Total military spending (including Russia): USD 693 billion (17% increase from 2023)
- Russia:
- Military spending: USD 149 billion
- Increase: 38% from 2023
- Share of GDP: 7.1%
- Share of total govt spending: 19%
- Spending doubled since 2015
- Ukraine:
- Military spending: USD 64.7 billion
- Increase: 2.9%
- Equivalent to 43% of Russia’s spending
- Military burden: 34% of GDP (highest in 2024)
- Germany:
- Military spending: USD 88.5 billion (28% increase)
- Biggest spender in Central and Western Europe
- 4th largest military spender globally
- Poland:
- Military spending: USD 38.0 billion (31% increase)
- Military burden: 4.2% of GDP
- NATO:
- Total military spending: USD 1506 billion (55% of global total)
- All NATO members increased spending in 2024
- 18 out of 32 NATO members met or exceeded 2% of GDP military spending, up from 11 in 2023 (highest since NATO’s 2014 guideline)
United States:
- Military expenditure: USD 997 billion
- Increase: 5.7% from 2023
- Share of NATO spending: 66%
- Share of global military spending: 37%
Middle East:
- Total military spending: USD 243 billion (15% increase from 2023)
- Israel:
- Military spending: USD 46.5 billion (65% increase)
- Highest annual increase since the 1967 Six-Day War
- Military burden: 8.8% of GDP (second highest globally)
- Lebanon:
- Military spending: USD 635 million (58% increase)
- Increase followed years of low spending due to economic and political crises
- Iran:
- Military spending: USD 7.9 billion (10% decline from 2023) despite ongoing regional involvement
Asia and Oceania:
- China:
- Military spending: USD 314 billion
- Increase: 7% from 2023
- 30 consecutive years of growth
- Accounts for 50% of total military spending in Asia and Oceania
- Focus: continued military modernisation, cyberwarfare expansion, nuclear arsenal development
About SIPRI:
- Stockholm International Peace Research Institute (SIPRI) is an independent international institute established in 1966 and based in Stockholm, Sweden.
- Focus areas: research and data on armed conflict, military expenditure, arms trade, disarmament, and arms control.
- SIPRI’s research is drawn from open sources and is intended for policymakers, researchers, media, and the public.
- Recognitions:
- Ranked among top 3 non-US think tanks globally (2014) by University of Pennsylvania’s Lauder Institute
- Ranked 34th globally (2020) among think tanks
Significance:
- The 2024 SIPRI report highlights significant increases in global military spending across all regions, driven by geopolitical tensions, war in Ukraine, and regional conflicts.
- The steep rise in spending signals intensified global militarisation and ongoing investment in defense capabilities worldwide.