Global Military Spending Hits Record $2.4 Trillion, Driven by Geopolitical Tensions

The Stockholm International Peace Research Institute reports unprecedented increases across all regions, with significant hikes in Europe and the Middle East.

Global military expenditure reached $2.4 trillion in 2023, marking the highest level ever recorded.
The United States, China, and Russia led the surge in spending, with the US accounting for 37% of the total.
European countries ramped up their budgets significantly due to the ongoing conflict in Ukraine, with NATO members surpassing the 2% GDP defense spending target.
Middle Eastern countries also saw a substantial increase, with Israel and Saudi Arabia leading the region in defense expenditures.
Experts warn that the current upward trend in military spending could continue unless major geopolitical conflicts are resolved.