In 2024 global military expenditure reached unprecedented levels reflecting shifting geopolitical dynamics and emerging security challenges. This topic provides a comprehensive analysis of military spending by country in 2024 highlighting the top spenders regional trends and the factors influencing these investments.
Global Overview of Military Spending in 2024
According to data from the Stockholm International Peace Research Institute (SIPRI) global military expenditure in 2024 saw significant increases across various nations. The top five military spenders were:
- United States: $916 billion (3.4% of GDP)
- China: $296 billion (1.7% of GDP)
- Russia: $109 billion (5.9% of GDP)
- India: $83.6 billion (2.4% of GDP)
- Saudi Arabia: $75.8 billion (7.1% of GDP)
These figures underscore the prioritization of defense in national budgets with each country’s spending influenced by its unique security concerns and strategic interests.
United States: Maintaining Global Military Dominance
The United States continued to lead in military expenditure allocating $916 billion in 2024 accounting for 37% of global military spending. This substantial investment reflects the U.S.’s commitment to maintaining its global military presence and addressing diverse security challenges worldwide.
China: Steady Growth in Defense Budget
China’s military spending reached $296 billion in 2024 representing 12% of global military expenditure. This steady growth aligns with China’s ongoing efforts to modernize its armed forces and expand its influence in the Asia-Pacific region.
Russia: High Military Spending Relative to GDP
Russia allocated $109 billion to defense in 2024 which is 5.9% of its GDP. This high percentage reflects Russia’s focus on strengthening its military capabilities amid regional tensions and its strategic objectives in Eastern Europe and beyond.
India: Significant Investment in Defense
India’s defense budget stood at $83.6 billion in 2024 accounting for 2.4% of its GDP. This investment is driven by ongoing security challenges in the region and India’s aim to enhance its military capabilities.
Saudi Arabia: Highest Defense Spending as Percentage of GDP
Saudi Arabia’s military expenditure was $75.8 billion in 2024 which is 7.1% of its GDP—the highest percentage among the top spenders. This substantial allocation underscores the kingdom’s focus on defense amid regional security concerns.
European NATO Members: Increased Defense Budgets
In 2024 European NATO members significantly increased their defense budgets in response to evolving security threats. A record 23 out of 32 NATO member states met their defense spending target of 2% of GDP. Notably Poland committed to allocating more than 4% of its GDP to defense surpassing other countries significantly. The Baltic states collectively committed to investing at least 2.5% of their GDP in defense.
United Kingdom: Commitment to Increased Defense Spending
The United Kingdom under Prime Minister Keir Starmer urged NATO allies to increase defense spending and committed to raising the UK’s defense budget to 2.5% of GDP. This commitment reflects the UK’s recognition of growing global threats and the need for enhanced military capabilities.
Germany and France: Strengthening Military Capabilities
Germany allocated $66.8 billion to defense in 2024 which is 1.5% of its GDP while France spent $61.3 billion accounting for 2.1% of its GDP. Both countries have increased their defense budgets to strengthen their military capabilities and contribute to NATO’s collective security efforts.
Japan: Enhancing Defense Posture
Japan’s military spending reached $50.2 billion in 2024 representing 1.2% of its GDP. This increase aligns with Japan’s efforts to enhance its defense posture amid regional security challenges.
South Korea: Focus on Modernization
South Korea allocated $47.9 billion to defense in 2024 which is 2.8% of its GDP. The focus remains on modernizing its military capabilities to address ongoing security concerns in the Korean Peninsula.
Australia: Strengthening Defense Alliances
Australia’s defense budget stood at $32.3 billion in 2024 accounting for 1.9% of its GDP. This investment reflects Australia’s commitment to strengthening defense alliances and enhancing its military capabilities.
Middle East and Africa: Varied Defense Expenditures
In the Middle East countries like Israel and Algeria allocated significant portions of their GDP to defense with Israel spending $27.5 billion (5.3% of GDP) and Algeria $18.3 billion (8.2% of GDP). These high percentages reflect ongoing regional security concerns.
In Africa South Africa planned to increase its defense budget by 5 billion rand ($271 million) to strengthen its military forces and support regional peacekeeping efforts particularly in eastern Congo.
Factors Influencing Military Spending in 2024
Several factors influenced the rise in military spending across various countries in 2024:
- Geopolitical Tensions: Ongoing conflicts and territorial disputes prompted countries to bolster their defense capabilities.
- Alliance Commitments: NATO members increased spending to meet alliance requirements and enhance collective security.
- Modernization Efforts: Technological advancements necessitated investments in modernizing military equipment and capabilities.
- Regional Security Concerns:
