Global Military Spending Hits New Record in 2024, Led by U.S., China, and Russia
SIPRI report reveals a 9.4% surge in global military expenditures, with Europe, the Middle East, and NATO nations driving unprecedented growth.
Watan-The Stockholm International Peace Research Institute (SIPRI), a leading authority on conflict and defense, reported Monday that global military spending reached a new record high in 2024, marking the tenth consecutive year of increased expenditures. The top five spenders—United States, China, Russia, Germany, and India—accounted for 60% of total global military expenditure.
According to the report, inflation-adjusted military spending rose by 9.4% in 2024, reaching $2.72 trillion. SIPRI noted this was the largest annual increase since at least the end of the Cold War. Military expenditures rose in every region globally, with particularly rapid growth in Europe and the Middle East.
U.S. Maintains Global Military Spending Dominance
With the war in Ukraine entering its third year, military spending continued to rise across Europe, increasing by 17% to reach $693 billion, making Europe the primary contributor to the global surge in 2024. Every European country except Malta increased its defense budget.
The report found that Russian military spending reached approximately $149 billion in 2024—a 38% increase from 2023 and double the figure from 2015. Meanwhile, Ukraine’s spending grew by 2.9%, reaching $64.7 billion. Ukraine recorded the highest military burden globally, with defense expenditures amounting to 34% of its GDP.
Researcher Lorenzo Scarazzato noted it was the first time since reunification that Germany became the largest military spender in Western Europe. Germany’s military budget rose by 28% to $88.5 billion, making it the fourth-largest spender globally. Scarazzato added, “Recent policies adopted by Germany and many other European nations suggest that Europe has entered a period of sustained high military spending likely to continue for the foreseeable future.”
The United States remained the undisputed leader, spending $997 billion—over a third (37%) of global military expenditures. China, the world’s second-largest military spender, increased its defense budget by 7% to an estimated $
