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Global Military Spending Surpasses $2.7 Trillion in 2024, Led by Europe, Middle East, and Asia Amid Conflicts and Geopolitical Tensions
The world spent more on defense in 2024 than at any other time in recent history. According to a report by the Stockholm International Peace Research Institute (Sipri), global military expenditures totaled over $2.7 trillion, representing a 9.4% increase compared to 2023. This is the largest annual jump since the end of the Cold War.
The growth was driven by more than 100 countries that raised their defense budgets. The main increases occurred in Europe and the Middle East in response to conflicts such as the war in Ukraine and the fighting in the Gaza Strip.
Germany Leads Spending in Western Europe
In Europe, Germany played a central role in increasing military investments. The country’s spending reached $88.5 billion in 2024, representing a 28% increase compared to the previous year.
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According to Sipri, this figure placed Germany as the leader in military spending in Western Europe, a position not seen since Reunification.
The increase is linked to a special fund of €100 billion created in 2022 to modernize the German Armed Forces. This resource has been used to renew outdated military equipment and structures.
Other European Countries Also Increase Defense Investments
Poland also increased its defense spending by 31%, reaching the equivalent of 4.2% of its Gross Domestic Product (GDP). This is the highest percentage among NATO countries in Europe. Meanwhile, Sweden, which joined the alliance in 2024, boosted investments by 34%, totaling $12 billion.
Military aid to Ukraine was another factor that raised spending in the region. $60 billion was allocated to the war-torn country, with significant contributions from the United States and Germany. The Germans alone provided $7.7 billion.
Ukraine itself, in the third year of conflict, allocated 34% of its GDP to defense. According to the report, all of the country’s tax revenues were used exclusively for military purposes. Non-military social and economic spending was covered by external aid.
Russia, responsible for the aggression, spent $149 billion on its armed forces in 2024. This represents a 38% increase compared to the previous year.
United States Continues Leading Global Military Spending Ranking
Despite the increase in other regions, the United States remains the world’s largest investor in defense. In 2024, the country allocated $997 billion to the sector. According to Sipri, a considerable portion of this amount was used to modernize military capabilities and update the nuclear arsenal.
The country possesses over 5,000 nuclear warheads and is heavily investing to maintain its strategic advantage over Russia and China. This modernization includes conventional weapons and nuclear systems.
China Strengthens Its Military Position
China, with plans to fully modernize its Armed Forces by 2035, spent $314 billion in 2024. The investment included the development of stealth fighters, drones, and unmanned underwater vehicles. The country also rapidly expanded its nuclear arsenal.
This movement raised alarms in Asia, with other countries accelerating their own military programs.
Increasing Tension in Asia-Pacific
Japan recorded a 21% increase in military spending, reaching $55.3 billion. Major companies in the region are investing in advanced military technologies. According to Nan Tian, director of the Sipri Military Expenditure Program, this could provoke a dangerous arms race.
He noted that the growth of military power in China and North Korea is viewed as a direct threat by other Asian countries. The response has been a continuous increase in military investments.
Middle East on the Rise Due to Conflicts
In the Middle East, Israel was the highlight. The country’s military spending surged by 65% in 2024, reaching $46.5 billion. The escalation of conflict with Hezbollah and the fighting in the Gaza Strip justified this jump.
Lebanon, which had been spending little on defense due to the internal crisis, also began to invest more. The increase reflects regional tensions and the need to strengthen its military capability.
New Global Alert
The Sipri report shows that the world is experiencing an unprecedented military expansion in recent times. The 9.4% increase in a single year signals a significant shift in international politics.
Amid regional wars and geopolitical disputes, defense budgets are taking on a central role in several countries.
With information from Unisinos.
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