Military expenses worldwide are rising rapidly - the highest level in 40 years

Military expenses worldwide are rising rapidly - the highest level in 40 years

Seoul, South Korea - according to a new report, the world is no longer upgrading as quickly as it has been since the last Cold War. In view of the constant major wars in Ukraine and in the Gaza Strip as well as the increasing military tensions from Europe to Asia, the numbers show a worrying trend.

increase in global military spending

An increase in global military spending by 9.4 % compared to the previous year is estimated for $ 2.718 trillion for 2024. This is the highest value of the renowned Stockholm International Peace Research Institute (SIPRI) in his annual report, which also warns that an end to the global armor run is not in sight. This increase is the largest since 1988, the year before the fall of the Berlin Wall.

The USA at the head of armor expenditure

The United States remain by far the largest military editor in the world, with almost a trillion dollar being estimated for 2024. The large items in the US budget include the F-35-stealth jets and their combat systems ($ 61.1 billion), new ships for the US Navy ($ 48.1 billion), the modernization of the US atomic waffs arsenal ($ 37.7 billion) ($ 29.8 billion).

Support for Ukraine and China's military spending

In the US budget, $ 48.4 billion are also planned for Ukraine, which corresponds to almost three quarters of Kiev's own defense budget of $ 64.8 billion. China follows the United States with an estimated $ 314 billion of military spending, which is almost a third of the US total. The report points out that China presented several improved skills in 2024, including new stealth fighting aircraft, unmanned aircraft (UAVS) and unmanned underwater vehicles. In addition, China quickly expanded its nuclear armed forces in 2024.

regional conflicts and increasing expenses

Especially countries that are involved in regional conflicts or are concerned about it, the greatest increases in military spending show in the year. Israel, which started an invasion of the Gaza Strip in 2023, recorded an impressive increase in military spending by 65 % in 2024. Russia, which attacked Ukraine in 2022, also shows an estimated increase of at least 38 %. However, Sipri points out that this number is probably higher due to additional funds from regional and other sources.

reinforced expenses in Europe

The over three-year conflict in Ukraine has led to NATO countries have significantly increased their defense budgets. Germany, with the fourth largest defense budget worldwide, increased its expenses by 28 %. Romania (43 %), the Netherlands (35 %), Sweden (34 %), Czech Republic (32 %), Poland (31 %), Denmark (20 %), Norway (17 %), Finland (16 %), Turkey (12 %) and Greece (11 %) are among NATO member states, which showed 2024 two-digit climbs in defense spending.

Asian military expenditure in focus

various developments in the region

The Philippines, which are involved in territorial disputes in the South China Sea, increased their defense budget by 19 %. South Korea, on the other hand, only recorded an increase of 1.4 % in 2024, but has the highest military stress in East Asia with 2.6 % of GDP. Taiwan, a democratic island with around 23 million inhabitants, which is claimed by the China Communist Party, increased his defense budget by only 1.8 % last year, but has increased by 48 % since 2015. India meanwhile had the world's five largest defense budget ($ 86.1 billion) in 2024 and recorded an increase of only 1.6 % compared to 2023, but the defense edition has increased by 42 % in the past ten years.

summary and outlook

The increasing military spending in the Asia-Pacific region and worldwide are worrying. In view of several unresolved conflicts and growing tensions, these investments risk driving the region into a dangerous spiral of the armoring competition. In Africa, military expenses rose a total of 3 % in 2024, with Algeria being the largest editor in the continent and taking 20th place worldwide. Mexico recorded an increase in military spending by 39 % in 2024 in the Americas, which reflects the government's increasingly militarized response to organized crime.