Global military spending surged by nearly 10% in 2024—the largest annual increase since the Cold War—driven by ongoing wars in Ukraine and the Middle East, according to a report by the Stockholm International Peace Research Institute (SIPRI).

Total global spending reached over $2.7 trillion, with the U.S. remaining the top spender at $997 billion.

Russia’s spending jumped 38% to $149 billion, while Ukraine’s rose modestly but reached 34% of its GDP—the highest global burden.

European NATO members, especially Germany and Poland, saw sharp increases.

In the Middle East, Israel’s military budget soared 65% to $46.5 billion amid wars in Gaza and Lebanon.

China, with the second-largest defense budget, spent $314 billion, while Japan saw a 21% rise, the Responsible StateCraft has reported.

In contrast, military spending in Latin America and sub-Saharan Africa remained low or declined.

Written by B.C. Begley