SIPRI Reports Unprecedented Rise in Global Military Expenditure

Global military spending surged to an all-time high in 2024, with the pace of increase reaching a level not seen since the Cold War, according to a new report by the Stockholm International Peace Research Institute (SIPRI). World defence expenditures totaled an estimated $2.72 trillion last year, up 9.4% in real terms from 2023. SIPRI characterized this jump as “unprecedented” in the post-Cold War era, driven largely by the war in Ukraine and heightened tensions in East Asia and the Middle East. Over 100 countries increased their military budgets in 2024, reflecting a global prioritization of security amid multiple conflicts. The steep rise pushed the global military burden (share of GDP spent on military) to 2.5%, its highest in many years. The SIPRI report’s findings underscore a historic inflection point: after a brief post-Cold War “peace dividend” period, the world is now investing in defence on a scale and speed unmatched in three decades.