The world is arming itself at the fastest rate since near the end of the Cold War, according to a new report, as major wars rage in Ukraine and Gaza and military tensions spike from Europe to Asia.
The 9.4% year-on-year rise to $2.718 trillion in global military spending in 2024 is the highest figure ever recorded by the authoritative Stockholm International Peace Research Institute (SIPRI) in its annual report – which warned there’s no end in sight to the spiraling global arms race. That is the highest rise since 1988, the year before the Berlin Wall fell.
“Many countries have also committed to raising military spending, which will lead to further global increases in the coming years,” the report said.
The United States remains by far the world’s biggest military spender – almost a trillion dollars in 2024, the report said.
Big ticket items in the US budget included F-35 stealth fighters and their combat systems ($61.1 billion), new ships for the US Navy ($48.1 billion), modernizing the US nuclear arsenal ($37.7 billion) and missile defense ($29.8 billion).
The US budget included $48.4 billion in aid for Ukraine, almost three-quarters of Kyiv’s own defense budget of $64.8 billion.
China followed the US in overall military spending with an estimated $314 billion, just under a third of the US total, the report said.
It did not break down Beijing’s spending by weapons or command, but noted China “unveiled several improved capabilities in 2024, including new stealth combat aircraft, uncrewed aerial vehicles (UAVs) and uncrewed underwater vehicles.”
https://edition.cnn.com/2025/04/30/world/world-military-spending-report-sipri-intl-hnk-ml/index.html