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Global Military Spending in 2024 Reaches Its Highest Level Since the End of Cold War.
In 2024, global military spending reached a historic high of $2718 billion, a 9.4 per cent increase compared to 2023, according to data published on 28 April 2025 by the Stockholm International Peace Research Institute (SIPRI). This increase, the highest observed since the end of the Cold War, continues an uninterrupted decade-long growth trend, with a 37 per cent rise between 2015 and 2024. The share of the world’s gross domestic product allocated to military expenditure rose to 2.5 per cent, while per capita military spending reached a record $334.
In 2024, China unveiled new stealth fighter jets, aerial and underwater drones, and continued the rapid expansion of its nuclear arsenal (Picture source: Chinese MoD)
This unprecedented level of spending is primarily driven by modernization efforts undertaken by major powers and ongoing conflicts, notably in Ukraine and the Middle East. The United States, China, Russia, Germany, and India alone accounted for 60 per cent of total global military expenditure, consolidating their dominant position.
The United States, remaining the world's largest military spender with $997 billion, directed a substantial share of its budget towards nuclear arsenal modernization and reinforcing integrated deterrence against Russia and China. The Department of Defense invested $61.1 billion in new systems for F-35 combat aircraft and $48.1 billion in the construction of new warships. Nuclear weapons modernization received $37.7 billion, while missile defense programs were allocated $29.8 billion. Additional aid packages included $48.4 billion in military support to Ukraine and $10.6 billion to Israel. Moreover, $1.9 billion was dedicated to strengthening Taiwan’s military capabilities.
China, with the second-largest military budget of $314 billion, increased its spending by 7 per cent to support the full modernization of its military by 2035. In 2024, China unveiled new stealth fighter jets, aerial and underwater drones, and continued the rapid expansion of its nuclear arsenal. A new military division dedicated to space and cyber operations was also established.
Russia raised its military spending to $149 billion, an increase of 38 per cent compared to 2023. A significant portion of these resources was directed towards domestic arms production, including missiles, tanks, and artillery systems used in the war against Ukraine, as well as for social support measures for military personnel. Part of the Russian defense budget remains classified, making precise estimates difficult.
In Europe, Germany increased its military expenditure by 28 per cent to reach $88.5 billion. This budget supported accelerated acquisitions of Leopard 2A8 tanks, F-35 aircraft, IRIS-T SLM air defense systems, and new research and development programs under the €100 billion special defense fund established in 2022. Germany also provided $7.7 billion in military aid to Ukraine, ranking second after the United States.
France, with a defense budget of $64.7 billion, up by 6.1 per cent, continued its modernization efforts under the 2024–2030 Military Programming Law, including orders for Rafale F4 fighter jets, Griffon and Serval armored vehicles, and enhancements to its nuclear deterrent. Paris also signed a bilateral military assistance agreement with Kyiv, offering additional support of up to €3 billion.
The United Kingdom raised its defense spending to $81.8 billion, strengthening its navy with new Type 26 destroyers and investing in its nuclear submarine fleet. London also committed to providing $3.8 billion per year in military aid to Ukraine through at least 2030.
Poland increased its military spending by 31 per cent, reaching $38 billion, financing major procurements including South Korean K2 tanks, K9 howitzers, F-35 fighter jets, and Patriot missile defense systems, while continuing the expansion of its land and air forces.
The United States, China, Russia, Germany, and India alone accounted for 60 per cent of total global military expenditure, consolidating their dominant position. (Picture source: SIPRI)
Ukraine’s military budget reached $64.7 billion, representing 34 per cent of its GDP. This expenditure was primarily allocated to salaries and support for military families (74 per cent) and to the purchase and repair of military equipment (23 per cent) to sustain forces across multiple fronts. External military assistance, estimated at $60 billion mainly from the United States and Germany, enabled Ukraine to replenish ammunition stocks, acquire new armored vehicles, and strengthen air defense capabilities.
Israel’s military spending surged by 65 per cent to $46.5 billion, driven by intensified combat in Gaza and southern Lebanon. The funds were used to purchase ammunition, infantry equipment, armored vehicles, and to enhance the Iron Dome missile defense system. In December 2024 alone, Israel spent $5.7 billion on military activities.
In Asia, Japan increased its military expenditure by 21 per cent to $55.3 billion. This funding supported the acquisition of long-range missiles and air defense systems, mainly from the United States, in line with Japan’s 2022–2027 military build-up plan. Taiwan, facing heightened tensions with China, allocated a significant portion of its defense budget to acquiring naval assets and upgrading its F-16 fighter fleet.
In the Middle East, Saudi Arabia maintained its position as the region’s largest military spender with $80.3 billion, investing mainly in the modernization of its air and ground forces. Lebanon, despite its ongoing economic crisis, significantly increased its military spending by 58 per cent to strengthen its armed forces amid regional tensions.
Regionally, the Americas accounted for 40 per cent of global military spending, followed by Europe (26 per cent), Asia and Oceania (23 per cent), the Middle East (9 per cent), and Africa (1.9 per cent). In North Africa, military spending rose by 8.8 per cent, largely driven by Algeria, where military expenditure represented 8 per cent of GDP.
According to SIPRI experts, these trends suggest a continued rise in military budgets in the coming years, as many governments have committed to long-term rearmament programs. However, the budgetary choices made, including increased reliance on debt and reductions in social spending, could have significant economic and social consequences for affected societies.