1. A Historic Surge in Global Defense Budgets
Global military spending rose by 9.4% in 2024, reaching a record $2.718 trillion, according to the Stockholm International Peace Research Institute (SIPRI). This marks the sharpest annual increase since 1988, driven by escalating geopolitical conflicts, including ongoing wars in Ukraine and Gaza, and regional tensions in East Asia and Europe.
The report emphasized that many countries have pledged to increase defense expenditures in the coming years, signaling a trend of continued military investment. SIPRI warned this trend could risk long-term global stability.
2. The United States and China Lead Global Defense Spending
The United States remained the world’s largest military spender, accounting for nearly $1 trillion in 2024. Key allocations included:
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$61.1 billion for F-35 combat systems
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$48.1 billion for naval shipbuilding
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$37.7 billion for nuclear arsenal modernization
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$29.8 billion for missile defense
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$48.4 billion in military aid to Ukraine
China, the second-largest spender, allocated approximately $314 billion, marking its 30th consecutive annual increase in defense spending. Beijing invested in stealth aircraft, unmanned systems, and expanded its nuclear capabilities throughout 2024.
Together, the US and China accounted for nearly 50% of global military expenditure.
3. Regional Military Expansions and Rising Global Risks
Countries engaged in or anticipating conflict led the largest spending increases. Key developments:
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Israel increased spending by 65%, the highest global jump, following its operations in Gaza.
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Russia raised its budget by at least 38% amid continued war in Ukraine.
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European NATO members like Germany (+28%), Romania (+43%), and Sweden (+34%) expanded budgets over concerns of Russian aggression and potential US disengagement.
In Asia, countries like Japan (+21%), India ($86.1B), Taiwan, and the Philippines (+19%) ramped up military investment in response to China’s rise. Meanwhile, Myanmar recorded a staggering 66% increase, the highest in Asia-Pacific, amid ongoing internal conflict.
SIPRI researchers cautioned that while defense funding is rising, true military capability and independence require more than increased budgets—they demand long-term structural reforms and strategic planning.
