Overview

• Global military spending rose by 9.4% in 2024 to reach $2.72 trillion, the steepest annual increase since the end of the Cold War, according to SIPRI's latest report.
• European military expenditure, including Russia, grew by 17%, surpassing Cold War-era levels, largely due to the Ukraine war and concerns over U.S. commitment to NATO.
• The United States remained the largest spender, allocating $997 billion, accounting for 37% of global spending and 66% of NATO's total defense budget.
• Israel recorded the steepest annual increase globally, with a 65% rise to $46.5 billion, driven by its conflicts in Gaza and with Hezbollah in Lebanon.
• China's military budget grew by 7% to $314 billion, marking three decades of consecutive increases, while Germany's spending rose by 28% to $88.5 billion, making it the largest in Western Europe.