Global Military Spending Reaches $2.7 Trillion in Record 2024 Increase

Global military expenditure tops $2.7 trillion in 2024

The United States, by far the biggest spender, increased expenditure by 5.7 percent, reaching nearly a trillion dollars. Washington alone accounts for 37 percent of worldwide spending

With the war in Ukraine and the rise of global tensions, the world broke a record in 2024: $2,720 billion spent on defence.

Spike in global military spending matches Cold-war era: Report - The Tribune

India with $ 86.1 billion spend was at the fifth spot behind the US ( $997 billion), China ( $ 314 billion) Russia ( $ 149 billion) and Germany ( $ 88 billion). .

Increased geopolitical tensions have led to an increase in military spending in all regions of the world, with particularly rapid growth in Europe and the Middle East, according to a report by the Stockholm International Peace Research Institute (SIPRI).

Conflicts spur ‘unprecedented’ rise in military spending

More than 100 countries increased their military budgets in 2024, said the report. Read more at straitstimes.com.

Global Defense Budgets Surge To $2.7 Trillion As Europe And Middle East Lead Steepest Increase Since Cold War: Report

Global defense budgets hit record levels in 2024, with a 9.4% increase to $2.72 trillion. Concerns arise about prioritizing military spending over social needs.