Global Military Spending Soars to Record High
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Global military spending surged by nearly 10 percent in 2024, reaching over $2.7 trillion—the largest annual increase since the end of the Cold War. The Ukraine conflict and wars in the Middle East were key drivers. The U.S. remained the top spender at $997 billion, but several other nations, including Russia (38% increase), Germany (28%), and Israel (65%), saw significantly larger percentage increases. NATO members collectively spent $1.5 trillion, with Poland experiencing the highest percentage increase (31%). Increased spending in Asia and the Pacific, particularly by China and Japan, also contributed to the global rise. Latin America and sub-Saharan Africa showed more restrained spending.
Global military spending surged by nearly 10 percent in 2024, reaching over $2.7 trillion—the largest annual increase since the end of the Cold War. The Ukraine conflict and wars in the Middle East were key drivers. The U.S. remained the top spender at $997 billion, but several other nations, including Russia (38% increase), Germany (28%), and Israel (65%), saw significantly larger percentage increases. NATO members collectively spent $1.5 trillion, with Poland experiencing the highest percentage increase (31%). Increased spending in Asia and the Pacific, particularly by China and Japan, also contributed to the global rise. Latin America and sub-Saharan Africa showed more restrained spending.
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