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.
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.