In 2024, global military expenditure reached a record $2.443 trillion, a significant increase from the previous year. This surge was driven by increased spending in Europe and the Middle East, with countries like the United States, France, and the UK leading in defence spending. The United States remained the largest arms exporter, while Ukraine emerged as the largest importer, largely due to the conflict in Ukraine.
Here’s a more detailed breakdown:
Global Military Expenditure:
The Stockholm International Peace Research Institute (SIPRI) reported that global military spending in 2024 reached $2.443 trillion, the highest ever recorded by SIPRI. This was a significant increase from the previous year and the steepest year-on-year rise since 2009.
Leading Exporters:
The United States was the largest exporter of major arms between 2020 and 2024, accounting for 43% of global exports. France and Russia followed, with 9.6% and 7.8% of global exports, respectively.
Leading Importers:
Ukraine became the world’s largest importer of major arms in 2020–2024, receiving 8.8% of global imports. India was the second-largest arms importer during the same period.
Regional Trends:
Europe:
Military expenditure increased significantly in European NATO states after the outbreak of the Russia–Ukraine war.
Asia and Oceania:
Countries like India, Pakistan, Japan, and Australia remained among the top arms importers, with India also experiencing a shift in its arms supply relations towards Western suppliers.
Middle East:
Saudi Arabia was the largest military spender in the Middle East, with a modest increase in spending.
Specific Countries:
United States:
Increased its share of global arms exports to 43%.
Russia:
Its arms exports decreased by 64% between 2015–19 and 2020–24.
India:
Saw a decrease in import volumes but remained a major arms importer, with its imports reflecting perceived threats from China and Pakistan.
Ukraine:
Became the largest arms importer due to the ongoing conflict, with the USA being the largest supplier.
Agencies
