Global military spending hits record high

Global military spending hit a record high last year as the war in Ukraine persisted and uncertainty grew over U.S. security commitments to its allies.

A report released Saturday by the Stockholm International Peace Research Institute, or SIPRI, found that global defense spending totaled $2.887 trillion in 2024, up 2.9 percent from a year earlier. It marked the 11th consecutive annual increase and the highest level ever recorded by the institute. Military spending accounted for 2.5 percent of global gross domestic product, edging up from 2.4 percent the previous year.

Europe saw the steepest rise. Defense spending across the region jumped 14 percent to $864 billion. Jade Guiberteau Ricard, a SIPRI researcher, said the increase reflects Europe’s continued push to strengthen its own defense capabilities as the United States presses allies to take on a greater share of the burden.

Spending in Asia and Oceania also rose sharply, climbing 8.1 percent to $681 billion, the fastest pace of growth since 2009. South Korea’s defense budget reached $47.8 billion, a 2.6 percent increase from a year earlier. Japan spent $62.2 billion, while Taiwan allocated $18.2 billion, up 9.7 percent and 14 percent, respectively.

Diego Lopes da Silva, a SIPRI researcher, said countries in Asia and Oceania are increasing defense spending as doubts grow over whether the United States will maintain its current level of security support.

The United States, China, Russia, Germany and India remained the world’s five largest military spenders, accounting for 58 percent of the global total. U.S. defense spending fell 7.5 percent to $954 billion, while China’s rose 7.4 percent to $336 billion. Ukraine ranked seventh, with $84.1 billion in military spending, less than half of Russia’s total.


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