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World military spending hits $2.7 trillion in record 2024

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World military spending hits $2.7 trillion in record 2024

Global military spending surged to a record $2.72 trillion in 2024, rising 9.4% from 2023—the largest annual increase since the Cold War, according to SIPRI.

Axar.az, citing Reuters, reports that spending rose sharply across all regions, especially in Europe and the Middle East.

Russia boosted its military budget by 38% to $149 billion, while Ukraine spent $64.7 billion, allocating all tax revenues to defense.

U.S. military spending grew by 5.7% to $997 billion, accounting for 37% of global military expenditure and 66% of NATO’s total.
Date
2025.04.28 / 17:13
Author
Axar.az
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