World military spending has reached its highest year-on-year rise since the end of the Cold War in 2024, a new study found.
According to data compiled by the Stockholm International Peace Institute (SIPRI), the world’s largest 15 spenders all increased military spending in 2024 compared to 2023, growing particularly rapidly in Europe and the Middle East.
The top-ranking spenders in the world (US, China, Russia, Germany, India) totaled $1.635 trillion (EUR 1.437 trillion), accounting for 60% of the total global military spending.
Meanwhile, military spending increased by 9.4% over the real period, earning global total military spending of $2.718 trillion (238.9 billion euros), and the global military burden (the proportion of global economic output allocated to military spending) increased to 2.5% of GDP.
Expenses in Europe drive global spikes
Since Russia launched a full-scale invasion of Ukraine in 2022, the war has continued to drive increased military spending across the continent of Europe.
According to the report, all European countries except Malta increased their military spending in 2024. Germany broke records in 2024 by spending 778.9 billion euros ($88.5 billion) on the military, becoming the largest Spender in Central and Western Europe.
Meanwhile, Poland’s military spending rose 31% last year to $38 billion (33.4 billion euros), or 4.2% of GDP. Regarding Ukraine itself, total military spending rose 2.9% in 2024 to $64.7 billion (56.8 billion euros). This amounts to 43% of Russia’s spending, the largest proportional military burden in any country last year.
Sipri’s survey included a total of expenditures in Europe of $149 billion (€131 million) in Russia, reaching $693 billion (€60.9 billion).
What’s coming in 2025?
In 2023, the Uppsala Dispute Data Program (UCDP) recorded a record number of 59 state-based armed conflicts since data collection began in 1946.
“As governments often make military security more prioritized at the expense of other budgetary areas, economic and social trade-offs could have a major impact on society in the coming years,” said Xiao Liang, researcher of Sipri military spending and arms production programmes.
In March, European Commission President Ursula von der Leyen proposed a European plan. She said member states could mobilize up to 800 billion euros to fund large ramp-ups in defence spending.
“The latest policies adopted in Germany and many other European countries suggest that Europe has entered a period of high and increasing military spending, which is likely to continue for the near future,” said Lorenzo Surazzato, a researcher in the Sipri military spending and arms production program.
