Overview

• The United States remains the top military spender, accounting for 37% of global defense expenditures with a $997 billion budget in 2024, a 5.7% increase from 2023.
• Germany's military spending surged by 28% to $88.5 billion, making it the fourth-largest global spender and the top in Central and Western Europe for the first time since reunification.
• Russia increased its defense budget by 38% to $149 billion, while Ukraine allocated 34% of its GDP—$64.7 billion—to military efforts, the highest GDP share globally.
• Israel's defense spending rose by 65% to $46.5 billion, its largest annual increase since 1967, driven by the Gaza war and tensions with Hezbollah.
• Eighteen NATO members met the 2% GDP defense spending target in 2024, up from eleven in 2023, reflecting heightened concerns over security and alliance dynamics.