Particle.news
Download on the App Store
4 ARTICLES
·
5mo ago

Global Military Spending Hits $2.7 Trillion in 2024, Marking Largest Annual Increase Since Cold War

A SIPRI report reveals a 9.4% surge driven by rising geopolitical tensions, with over 100 countries increasing their defense budgets and Europe and the Middle East seeing the sharpest growth.

Un soldat ukrainien s’entraîne avec des militaires français, le 25 avril 2025 en Pologne.
Dans l'usine d'armement KNDS à Bourges (Cher), le 21 mars 2025.
Image

Overview

  • The Stockholm International Peace Research Institute (SIPRI) reports a record $2.7 trillion in global military expenditures for 2024, a 9.4% increase over 2023 and the largest since the Cold War.
  • Europe, including Russia, saw the steepest regional rise with a 17% increase, totaling $693 billion, as Russia boosted its military budget by 38% to $149 billion.
  • The United States remained the top global spender, increasing its defense budget by 5.7% to $997 billion, accounting for 37% of global military spending and 66% of NATO's total.
  • Germany's defense spending surged 28% to $88.5 billion, making it the fourth-largest global spender, while Israel's military budget rose by 65% to $46.5 billion due to its ongoing Gaza conflict.
  • Economic trade-offs were significant as nations reallocated funds from social programs or took on debt to meet rising defense costs, with NATO members collectively achieving the 2% GDP target for the first time.