Global Military Spending Fact Sheet (2024)
Anadolu Agency published an article featuring the following data on Global Military Spending in 2024.
According to the source, global military spending reached an unprecedented [$2.718 trillion] in 2024, reflecting a 9.4% year-on-year increase—the steepest surge since the Cold War. The military burden (spending as a share of global GDP) rose to 2.5%, underscoring escalating geopolitical tensions and protracted conflicts worldwide.
Europe, including Russia, drove much of the growth with a 17% spending jump to [$693 billion], exceeding Cold War-era levels. Russia’s expenditure soared 38% to [$149 billion] (7.1% of GDP), while Ukraine allocated [$64.7 billion]—34% of its GDP, the world’s highest military burden. NATO members collectively spent [$1.506 trillion], accounting for 55% of global spending, with the U.S. leading at [$997 billion] (37% of the total).
The Middle East saw a 15% rise to [$243 billion], highlighted by Israel’s 65% spike ([$46.5 billion]) during its Gaza offensive. In Asia, China increased spending by 7% to [$314 billion], maintaining its position as the second-largest spender. Japan’s expenditure grew 21% ([$55.3 billion]), the largest annual increase since 1952, while India reached [$86.1 billion].
SIPRI researchers warned of long-term trade-offs, noting that prioritization of military security risks diverting resources from critical social sectors. Africa’s spending grew modestly by 3% ([$52.1 billion]), but global trends suggest deepening militarization amid unresolved conflicts.
