World military expenditure reached US $ 2,718 billion in 2024.
According to Stockholm International Peace Research Institute (SIPRI), this global military expenditure sees the steepest rise for the 10th consecutive year since with an increase of 9.4 per cent compared to 2023 end of cold war.
SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament set up in 1966.
Military spending increased in all world regions, especially the world’s 15 largest spenders all increased their military expenditure in 2024 with particularly rapid growth in both Europe and the Middle East.
According to new data published by SIPRI, the top five military spenders—the United States, China, Russia, Germany and India—accounted for 60 per cent of the global total, with combined spending of US $1635 billion.
“Over 100 countries around the world raised their military spending in 2024,” said Xiao Liang,
Military spending in Europe (including Russia) rose by 17 per cent to US $ 693 billion and was the main contributor to the global increase in 2024.
With the war in Ukraine in its third year, military expenditure kept rising across the continent, pushing European military spending beyond the level recorded at the end of the cold war.
In Europe, except Malta, almost all European countries increased their military spending in 2024.
Russia’s military expenditure reached an estimated US $149 billion in 2024, a 38 per cent increase from 2023 and double the level in 2015.
Ukraine’s total military expenditure grew by 2.9 per cent to reach US $64.7 billion—equivalent to 43 per cent of Russia’s spending. At 34 per cent of GDP, Ukraine had the largest military burden of any country in 2024.
Russia once again significantly increased its military spending, widening the spending gap with Ukraine,’ said Diego Lopes da Silva, Senior Researcher with the SIPRI Military Expenditure and Arms Production Programme.
‘Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending.’
Several countries in Central and Western Europe saw unprecedented rises in their military expenditure in 2024 as they implemented new spending pledges and large-scale procurement plans.
Germany’s military expenditure increased by 28 per cent to reach US $88.5 billion, making it the fourth biggest in the world. Poland’s military spending grew by 31 per cent to US $38.0 billion in 2024.
“For the first time since reunification Germany became the biggest military spender in Western Europe, which was due to the €100 billion special defence fund announced in 2022,” said Lorenzo Scarazzato, Researcher with the SIPRI Military Expenditure and Arms Production Programme.
All NATO members increased their military expenditure in 2024. Of the 32 NATO members, 18 spent at least 2.0 per cent of GDP on their militaries, according to SIPRI methodology, up from 11 in 2023 and the highest number since NATO adopted the spending guideline in 2014.
Military spending by the USA rose by 5.7 per cent to reach US $997 billion. A significant portion of the US budget for 2024 was dedicated to modernizing military capabilities and the US nuclear arsenal in order to maintain a strategic advantage over Russia and China.
European NATO members spent US $454 billion in total, representing 30 per cent of total spending across the alliance.
Military expenditure in the Middle East reached an estimated US $243 billion in 2024, an increase of 15 per cent from 2023 and 19 per cent more than in 2015.
Israel’s military expenditure surged by 65 per cent to US $46.5 billion in 2024, the steepest annual increase since the Six-Day War in 1967, as it continued to wage war in Gaza and escalated conflict with Hezbollah in southern Lebanon.
Its military burden rose to 8.8 per cent of GDP, the second highest in the world. Lebanon’s military spending rose by 58 per cent in 2024 to US $635 million.
Iran’s military spending fell by 10 per cent in real terms to US $7.9 billion in 2024.
the world’s second largest military spender, China increased its military expenditure by 7.0 per cent to an estimated US $314 billion.
Japan’s military spending rose by 21 per cent to US $55.3 billion in 2024, the largest annual increase since 1952.
India’s military expenditure, the fifth largest globally, grew by 1.6 per cent to US $86.1 billion. Spending by Taiwan grew by 1.8 per cent in 2024 to reach $16.5 billion.
In 2024 the United Kingdom increased its military expenditure by 2.8 per cent to reach $81.8 billion, making it the sixth biggest spender worldwide.
Military expenditure by France rose by 6.1 per cent to reach US $64.7 billion, making it the ninth biggest spender.
Sweden increased its military expenditure by 34 per cent in 2024, to $12.0 billion.
Saudi Arabia was the largest military spender in the Middle East in 2024 and the seventh largest worldwide. Its military spending saw a modest increase of 1.5 per cent, reaching an estimated US $80.3 billion.
Military spending by Myanmar surged by 66 per cent in 2024 to an estimated US $5.0 billion—the highest rate of increase in Asia and Oceania—as internal conflicts intensified.
Mexico’s military spending rose by 39 per cent to US $16.7 billion in 2024.
Military expenditure in Africa totalled US $52.1 billion in 2024, a 3.0 per cent increase from 2023 and 11 per cent higher than in 2015.
