Global Military Expenditure Sees Unprecedented Surge in 2024
April 28, 2025, marked a pivotal moment in global military spending as the Stockholm International Peace Research Institute (SIPRI) released its findings showing that worldwide military expenditure soared to a staggering $2,718 billion in 2024. This figure represents a dramatic 9.4 percent increase in real terms compared to 2023, signaling the most significant rise in military budgets since the Cold War era. The increase in military spending was universal, with all regions showing growth, but Europe and the Middle East experienced particularly notable surges.
The Major Players in Military Spending
The top five military spenders in 2024 were the United States, China, Russia, Germany, and India, together accounting for a whopping 60 percent of global military expenditure—a sum of $1,635 billion. The United States alone contributed $997 billion, comprising 37 percent of world military spending.
Continuous Growth in Global Military Expenditure
This year’s figures mark the tenth consecutive year of rising military expenditure globally. The "military burden," defined as the percentage of global gross domestic product (GDP) allocated to military spending, has now reached 2.5 percent. "Over 100 countries raised their military spending in 2024," noted Xiao Liang, a researcher at SIPRI, emphasizing the broader implications on social and economic trade-offs that could resonate for years to come.
European Surge Fuels Global Increase
With military spending in Europe, including Russia, rising by 17 percent to $693 billion, it was a principal driver of the overall increase in military expenditure. The ongoing war in Ukraine has led to an unprecedented uptick in defense budgets across Europe, pushing expenditures beyond levels seen at the end of the Cold War. Notably, every European nation except Malta increased its military budgets in 2024.
Russia’s military expenditure reached an estimated $149 billion this year, a staggering 38 percent jump from the previous year, indicating a serious investment in military readiness amid ongoing geopolitical tensions. Conversely, Ukraine’s military spending rose 2.9 percent to reach $64.7 billion, reflective of its wartime circumstances.
NATO Members Step Up Military Budgets
A robust increase was also noted among NATO members, whose total military expenditure in 2024 was approximately $1,506 billion—55 percent of total global military spending. A noteworthy development is that 18 out of 32 NATO countries allocated at least 2 percent of their GDP to military spending, up from 11 in 2023, marking the highest compliance with NATO’s spending guidelines since its introduction in 2014.
Middle East in the Spotlight
In the Middle East, military spending increased significantly, reaching an estimated $243 billion, a 15 percent rise from 2023. Israel’s military expenditure grew by a staggering 65 percent to $46.5 billion, reflecting its ongoing military operations and heightened hostilities in the region. In contrast, Iran’s military budget saw a 10 percent decline, hindered primarily by economic sanctions.
Rising Military Budgets in Asia-Pacific
China remains a significant player, increasing its military expenditure by 7 percent to about $314 billion. This growth continues a three-decade trend of increasing military investments focused on modernization and technological advancements in warfare. Meanwhile, Japan marked its largest military budget increase since 1952, with a 21 percent rise to $55.3 billion, driven by security concerns in its region.
Noteworthy Developments Across the Globe
Several other nations also made headlines with their military spending:
- The United Kingdom raised its military budget by 2.8 percent to $81.8 billion, cementing its position as the sixth-largest spender worldwide.
- Germany saw a remarkable 28 percent increase in military expenditure, bolstered by a special defense fund.
- In Africa, total military expenditure amounted to $52.1 billion, representing a 3 percent increase from 2023.
As military budgets continue to swell globally, the ramifications for geopolitical stability and domestic social policies remain significant. Countries are prioritizing military security amid rising tensions, prompting discussions around the long-term impact on public welfare and economic balance. The future of international relations may well depend on how these shifting military priorities align with pressing social and economic needs.
