Last year global military spending reached a record $2.718 trillion, about 2.5 percent of world GDP. RBC cites the annual assessment by the Stockholm International Peace Research Institute SIPRI.
SIPRI, in its 2024 update, shows world military outlays rose 9.4 percent from the previous year, marking the strongest growth since 1988. The cost per capita stood at roughly $334.
Analysts note that 80 percent of global spending, equal to 2.185 trillion dollars, and 79 percent of the total growth occurred in 15 countries. In the lead were the United States with 997 billion dollars, about 3.4 percent of its GDP and roughly 37 percent of global military expenses, followed by China with 314 billion dollars, around 1.7 percent of its GDP and 12 percent of the world total, and the Russian Federation with a share of 7.1 percent of GDP and about 5.5 percent of global spending. Other large spenders include India, Germany, the United Kingdom, Saudi Arabia, Ukraine, France and Japan.
According to SIPRI, the year saw notable shifts with Israel and Russia posting the largest increases in military outlays, Israel up about 65 percent and Russia about 38 percent. Ukraine also shows a significant impact as a share of its GDP tied to ongoing conflict, reflecting external aid and emergency defense funding. The pattern highlights how foreign support and budget reallocation influence defense choices when security pressures rise.
Estonia projects that its military expenditures will rise to 5.4 percent of GDP in 2026, signaling a stronger emphasis on deterrence and regional defense commitments within the Baltic region.
In 2024 observers noted changes in defense procurement and weapons supply patterns. Governments reassessed procurement cycles, budget priorities and modernization plans, linking geopolitical tensions to how resources are allocated for security and future readiness.