ISTANBUL

Global military expenditure soared to $2.718 trillion in 2024 in an unprecedented surge, driven by ongoing wars, rising geopolitical tensions and increased security concerns worldwide, the Stockholm International Peace Research Institute (SIPRI) said Monday.

The 9.4% real-terms increase from 2023 marks the steepest year-on-year rise since at least the end of the Cold War and the 10th consecutive year of growth, data showed.

The global military burden – military spending as a share of global gross domestic product (GDP) – climbed to 2.5% in 2024.

Europe (including Russia) was a major driver of the global trend, with spending jumping 17% to $693 billion.

This surge, largely fueled by the continuing war in Ukraine, pushed European military expenditure beyond levels seen at the end of the Cold War.

Russia’s estimated military spending surged 38% to $149 billion, double its 2015 level and constituting 7.1% of its GDP. Ukraine's spending reached $64.7 billion, equivalent to 43% of Russia's expenditure. At 34% of its GDP, Ukraine bore the world's highest military burden, according to the report.

Diego Lopes da Silva, a SIPRI senior researcher, warned that Ukraine faces challenges increasing spending further, given its tight fiscal space. Besides its own sources, Kyiv benefits from financial and military assistance from its western allies in its fight against Russia.

Several European nations saw unprecedented rises. Germany increased spending by 28% to $88.5 billion, becoming the fourth-largest spender globally and the largest in central and western Europe, boosted by a special defense fund announced in 2022.

NATO members collectively spent $1.506 trillion, 55% of the global total. The US accounted for two-thirds of alliance spending, raising its own budget 5.7% to $997 billion, or 37% of the world total.

A record 18 of 32 NATO allies met the 2% of GDP spending target in 2024. The US has been pushing its NATO allies to spend more on defense.

In the Middle East, spending grew 15% to $243 billion. Israel's expenditure leaped 65% to $46.5 billion – the sharpest rise since 1967 – amid its genocidal war in Gaza, in which it has killed more than 52,200 Palestinians.

China, the world's second-largest spender, continued its buildup, increasing expenditure by 7% to an estimated $314 billion. Japan also saw a significant 21% rise to $55.3 billion, its largest annual increase since 1952. India, the fifth-largest spender globally, spent $86.1 billion in the last year.

African countries spent $52.1 billion for military purposes in 2024, a 3% increase from 2023 and 11% higher than in 2015.

"As governments increasingly prioritize military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come,” warned Xiao Liang, a researcher with SIPRI’s Military Expenditure and Arms Production Program.