Global military spending has reached new record levels, setting a dramatic historical maximum — by the end of 2024, it totaled over $2
7 trillion USD, indicating a significant increase and escalation of military activity worldwide. This information is reported by the Stockholm International Peace Research Institute (SIPRI), which repeatedly compiles statistics and analyzes trends in the defense sector. According to the study, in 2024, global military expenditures amounted to $2.718 trillion. This represents a 9.4% increase compared to the previous year and marks the fastest annual growth since the end of the 20th century — the period after the Cold War. The upward trend continues for the second consecutive year, and against this backdrop, it is noteworthy that over a hundred countries are allocating increasingly larger resources to military needs, often at the expense of other budget items. Analyzing the reasons for this rapid growth suggests that the global political and security context, including the war in Ukraine and tense situations in Europe, has intensified the trend toward modernization and buildup of military forces. Amid this crisis, countries are increasing defense expenditures as the importance of security is reaffirmed — it demands appropriate resources. The organization reports that in 2024, expenditures in Europe (including Russia) increased by 17%, reaching $693 billion. This exceeds the levels recorded at the end of the Cold War and indicates a renewal and deepening of military competition in the region. The only EU country that ceased to increase its military spending is Malta; others are actively modernizing their arsenals. Russia, in particular, spent about $149 billion in 2024 — 38% more than last year and twice as much as in 2015. This accounts for 7.1% of the Russian Federation’s GDP and approximately 19% of all national expenditures, reflecting a deeply military and economically oriented policy. Regarding Ukraine, researchers estimate that its military expenditures in 2024 increased by 2.9%, reaching $64.7 billion. This sum accounts for 43% of Russia’s spending — the highest effective ratio relative to GDP in the world. Moreover, the level of defense spending amounts to 34% of the country’s gross domestic product — an absolute record for a nation at war and facing economic challenges. Experts note that under current financial conditions, with such a high budget share, Ukraine will find it difficult to further enhance its military resources, as the country’s limited capabilities foreshadow possible difficulties in future periods. In the United States, which remains the world’s largest military power, there is also growth — military expenditures increased by 5.7% to $997 billion. This accounts for 37% of global military spending and confirms the US role as a global military leader. Meanwhile, in Europe, unprecedented increases in defense funding are observed, particularly in Germany (+28%), which raised its expenditures to $88.5 billion, making it the largest military actor on the continent. Poland, in turn, increased its spending by 31%, reaching $38 billion, and gained the status of one of Europe's countries with the highest military investment levels — 4.2% of GDP. The prehistory of this current surge traces back to 2023, when global defense expenditures reached a record $2.44 trillion — a 6.8% increase compared to the previous year. Thus, the global defense sector continues to demonstrate significant momentum and active resource mobilization, which many analysts associate with geopolitical tensions and new military conflicts. The situation around the war in Ukraine and the increasing global expenditures indicate that modern international politics are becoming more focused on strengthening military positions. The economic and social consequences of this are uneven — countries spend large sums, which may impact budgets, social services, and long-term strategic projects. The outcomes of such dynamics heighten concerns among experts about possible consequences of an arms race escalation and the need to rethink global security systems.