Overview

• World military expenditure reached $2.72 trillion in 2024, marking the steepest annual rise since the Cold War, with a 9.4% increase from 2023.
• Over 100 countries increased their defense budgets, with Europe surpassing Cold War spending levels due to the war in Ukraine and NATO-related concerns.
• Russia and Israel recorded the sharpest national increases, with Russia's spending up 38% to $149 billion and Israel's up 65% to $46.5 billion, the latter being its largest rise since 1967.
• The United States remained the largest military spender at $997 billion, accounting for 37% of global spending and 66% of NATO's total.
• China's defense budget grew 7% to $314 billion, continuing its three-decade trend of military investment and modernization.