Overview

• Worldwide military expenditure rose by 9.4% in 2024, reaching $2.72 trillion, marking the steepest annual increase since the end of the Cold War.
• European military spending, including Russia, surged by 17%, surpassing Cold War levels, with Germany becoming the top spender in Central and Western Europe.
• The United States accounted for 37% of global military spending, increasing its defense budget by 5.7% to $997 billion, which also represented 66% of NATO's total spending.
• Middle Eastern military budgets grew by 15%, with Israel's spending rising by 65%—the sharpest annual increase since 1967—while Iran's spending declined by 10% due to sanctions.
• China's military expenditure increased by 7% to $314 billion, marking three decades of consecutive growth and making up half of Asia and Oceania's defense spending.