Countries by Military Expenditure 2024

About This Dataset

Global military spending hit a record $2.72 trillion in 2024, according to the Stockholm International Peace Research Institute (SIPRI), driven by the ongoing war in Ukraine, rising tensions in the Indo-Pacific, and a fundamental shift in European defence posture. The United States alone accounts for over 37% of worldwide defence spending — more than the next ten countries combined. For the first time since reunification, Germany crossed NATO's 2% of GDP defence benchmark in 2024, reflecting a dramatic strategic pivot that Chancellor Scholz called a Zeitenwende, or turning point. China's military budget has more than tripled in real terms over the past two decades as it modernises its naval and air forces. Economists have raised growing concerns about the global opportunity costs as social spending and climate investment are crowded out by defence budgets at scale.

Analysis

The disparity in military spending between the United States and other nations is striking, as the U.S. invests more than the next ten countries combined. China's significant increase to $314 billion reflects its ongoing military modernization efforts, particularly in naval and air capabilities. Meanwhile, Germany's pivot to a more robust defense posture, marked by its $88 billion expenditure, signifies a broader shift in European defense strategy. This trend raises concerns about the opportunity costs associated with such high military budgets, as vital social and climate investments may be sidelined. The growing military expenditures could indicate a long-term shift in global priorities, particularly in response to geopolitical tensions.

Source: Stockholm International Peace Research Institute

Key Findings

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United States leads in Military Expenditure (Billion USD) with 997 in 2024.

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Average Military Expenditure (Billion USD) in 2024: 231 · median: 87.

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Gap in 2024: United States is 15.6× larger than France.